LORD PATRICK J 4

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.