LORD PATRICK J 4
4 · LAM RESEARCH CORP · Filed Feb 5, 2026
Research Summary
AI-generated summary of this filing
Lam Research EVP Patrick J. Lord Exercises/Converts RSUs
What Happened Patrick J. Lord, Executive Vice President of Lam Research (LRCX), reported exercise/conversion of derivative awards on Feb 3, 2026. The filing shows 63,345 shares were acquired at $0.00 (conversion/exercise) and 42,230 shares were disposed at $0.00 (reported as a derivative disposition). The dollar value reported for both transactions is $0.00, which indicates a non-cash conversion of awards rather than a market purchase or sale.
Key Details
- Transaction date: 2026-02-03; Filing date: 2026-02-05 (no late filing indicated in the report).
- Transaction code: M (exercise or conversion of a derivative instrument).
- Shares acquired: 63,345 at $0.00; shares disposed: 42,230 at $0.00.
- Shares owned after transaction: not specified in the filing.
- Notable footnotes:
- F1/F3: The 42,230 shares relate to a market‑based performance restricted stock unit (PRSU) grant made 03/01/2023 that vests (0%–150%) on 03/01/2026 based on Lam’s total shareholder return vs. the PHLX Semiconductor Sector Total Return Index (performance period 02/01/2023–01/31/2026).
- F2: Reported amounts include shares subject to unvested restricted stock units.
Context
- The $0.00 prices and the filing footnotes indicate these were conversions of company awards (market‑based PRSUs) rather than open‑market cash purchases or sales. Dispositions reported at $0 in such filings commonly reflect conversions, withholding, or treatment of shares related to awards rather than a public stock sale.
- For retail investors, award conversions and tax-withholding events are generally administrative and do not necessarily signal the insider’s view on the stock.
Insider Transaction Report
Form 4
LORD PATRICK J
Executive Vice President
Transactions
- Exercise/Conversion
Common Stock
[F1][F2]2026-02-03+63,345→ 138,803 total - Exercise/Conversion
Market-based Performance Restricted Stock Unit
[F3]2026-02-03−42,230→ 0 totalExercise: $0.00→ Common Stock (42,230 underlying)
Footnotes (3)
- [F1]On 03/01/2023, the Reporting Person received a grant of 42,230 Market-based Performance Restricted Stock Units vesting between 0% and 150% on 03/01/2026. The vesting of this award is based on the total return stock price performance of Lam Research shares (assuming reinvestment of dividends) relative to the market price performance of the PHLX Semiconductor Sector Total Return Index, comparing the 50-trading day trailing average closing price over the performance period from 02/01/2023 through 01/31/2026.
- [F2]The amount reported includes shares subject to unvested restricted stock units.
- [F3]The Market-based performance restricted stock units will vest between 0% and 150% on 03/01/2026. The performance of this award is based on the Lam Research Total Shareholder Return performance relative to the PHLX Semiconductor Total Return Index Total Shareholder Return during the performance period of 02/01/2023 through 01/31/2026.
Signature
Marta Woods by Power of Attorney|2026-02-05