ARCHER TIMOTHY 4

What Happened

• Timothy Archer, President and CEO of Lam Research (LRCX), reported exercise/conversion of derivative awards on 2026-02-04. The filing shows 271,530 shares acquired at $0.00 and 181,020 derivative units reported as disposed at $0.00. Reported dollar value of the reported transactions is $0 (these reflect issuance/conversion of equity awards rather than open‑market cash trades). The 181,020 items relate to market‑based performance restricted stock units granted 03/01/2023 that vest based on relative total shareholder return.

Key Details

• Transaction date: 2026-02-04 (Form 4 filed 2026-02-05 — appears timely).
• Reported entries: 271,530 shares acquired (exercise/conversion, code M) and 181,020 derivative units disposed (code M); price reported $0.00 for both.
• Shares owned after transaction: not specified in the provided filing excerpt.
• Footnotes: The 181,020 units are Market‑based Performance RSUs granted 03/01/2023 that vest between 0%–150% on 03/01/2026 based on Lam’s TSR vs. the PHLX Semiconductor Sector Total Return Index (performance period 02/01/2023–01/31/2026). The filing also notes the reported amounts include shares subject to unvested RSUs.
• No indication in this filing of an open‑market sale, cashless exercise proceeds, or tax‑withholding share disposition (codes for those actions are not shown in the provided excerpt).

Context

• Code M transactions are exercises or conversions of derivative awards (e.g., options or performance RSUs). In this case the filing documents conversion/settlement of equity awards rather than an insider buying or selling stock in the market.
• Such conversions/vestings are a common part of executive compensation and don’t necessarily indicate a personal view to buy or sell shares. Purchases are usually a stronger signal of insider conviction; conversions/vestings primarily reflect compensation plan outcomes and formulaic settlement (including performance results).