Lam Research SVP Neil Fernandes Withholds Shares, Receives RSUs

What Happened Neil J. Fernandes, Senior Vice President of Lam Research (LRCX), had 17,091 shares withheld at $233.89 per share (totaling $3,997,414) to satisfy tax withholding upon vesting and was also granted a total of 18,387 restricted stock units (RSUs) on 2026-02-27. The reported disposals (code F) reflect automatic withholding of 10,694; 1,298; 1,809; and 3,290 shares at $233.89 each. The awards (code A) consist of 8,274 time-based RSUs and 10,113 derivative/performance-based RSUs, reported at $0.00 (awards).

Key Details

• Transaction date: 2026-02-27; filing date: 2026-03-02 (reporting transactions that occurred on 02/27/2026). No late filing is indicated in the provided data.
• Withheld shares: 17,091 shares disposed at $233.89 each; total value withheld = $3,997,414 (~$4.0M).
• Awards received: 8,274 time-based RSUs + 10,113 performance-based RSUs = 18,387 RSUs (reported as acquisitions at $0.00). Many of these RSUs are unvested.
• Shares owned after the transactions: exact post-transaction beneficial ownership was not specified in the supplied data; the reported amounts include unvested RSUs (see footnote F2).
• Notable footnotes:
  • F1: Time-based RSUs vest in three equal installments on 02/27/2027, 02/27/2028 and 02/27/2029.
  • F3: The disposals represent shares automatically withheld upon RSU vesting to satisfy tax withholding obligations (not an open-market sale).
  • F4: Performance-based RSUs vest between 0%–150% on 02/27/2029 based on Lam’s Total Shareholder Return percentile vs. the PHLX Semiconductor Total Return Index for the period 02/02/2026–02/01/2029.

Context

• The "disposals" were tax withholdings (code F), not voluntary open-market sales; they reduce the insider's net delivered shares to cover taxes on vesting.
• The awards include both time-vested RSUs (scheduled vesting over 2027–2029) and market/performance RSUs (payout depends on relative TSR vs. a semiconductor index, 0–150% possible).
• For retail investors: purchases or outright open-market buys are generally stronger signals than routine tax withholding or grant activity. These entries primarily reflect routine compensation and tax settlement rather than a discretionary sale or purchase.