Bettinger Douglas R 4
4 · LAM RESEARCH CORP · Filed Mar 2, 2026
Research Summary
AI-generated summary of this filing
Lam Research CFO Douglas Bettinger Receives Awards, Shares Withheld
What Happened Douglas R. Bettinger, Chief Financial Officer of Lam Research (LRCX), received equity awards and had shares withheld to satisfy tax obligations on 2026-02-27. He was granted 12,547 time‑based restricted stock units (RSUs) and 18,820 market‑based performance RSUs (total 31,367 shares acquired at $0.00). At the same time, 48,673 shares were disposed/withheld to cover tax liabilities at $233.89 per share, representing proceeds/withholding of about $11.38 million (breakdown: 38,136 @ $233.89 = $8,919,629; 2,826 @ $233.89 = $660,973; 2,186 @ $233.89 = $511,284; 5,525 @ $233.89 = $1,292,242).
Key Details
- Transaction date: 2026-02-27; Form 4 filed 2026-03-02.
- Acquisitions: 12,547 RSUs (time‑based) and 18,820 market‑based performance RSUs; acquisition price reported $0.00.
- Withheld/disposed shares for tax obligations: total 48,673 shares at $233.89 per share (~$11.38M).
- Vesting/timing notes: time‑based RSUs vest in three equal installments on 02/27/2027, 02/27/2028 and 02/27/2029 (F1). The market‑based performance RSUs vest between 0%–150% on 02/27/2029 based on Lam’s TSR vs. the PHLX Semiconductor Total Return Index for 02/02/2026–02/01/2029 (F4).
- Filing notes: F2 indicates reported amounts include shares subject to unvested RSUs; F3 confirms shares were automatically withheld upon vesting to satisfy tax withholding. The filing does not specify total shares owned after these transactions.
Context This was primarily an award/vesting event with routine tax withholding (code F) rather than an open‑market sale. The tax‑withholding disposition is a common administrative step when RSUs vest and does not necessarily indicate insider sentiment. The performance RSUs are contingent on future TSR performance and may vest at 0%–150% in 2029, so their final share count is not fixed today.
Insider Transaction Report
- Award
Common Stock
[F1][F2]2026-02-27+12,547→ 1,076,704 total - Tax Payment
Common Stock
[F3][F2]2026-02-27$233.89/sh−38,136$8,919,629→ 1,038,568 total - Tax Payment
Common Stock
[F3][F2]2026-02-27$233.89/sh−2,826$660,973→ 1,035,742 total - Tax Payment
Common Stock
[F3][F2]2026-02-27$233.89/sh−2,186$511,284→ 1,033,556 total - Tax Payment
Common Stock
[F3][F2]2026-02-27$233.89/sh−5,525$1,292,242→ 1,028,031 total - Award
Market-based Performance Restricted Stock Unit
[F4]2026-02-27+18,820→ 18,820 totalExercise: $0.00→ Common Stock (18,820 underlying)
Footnotes (4)
- [F1]The restricted stock units will vest in three equal installments on 02/27/2027, 02/27/2028, and 02/27/2029.
- [F2]The amount reported includes shares subject to unvested restricted stock units.
- [F3]Represents shares that were automatically withheld upon vesting of restricted stock units to satisfy tax withholding obligations.
- [F4]The Market-based performance restricted stock units will vest between 0% and 150% on 2/27/2029. The performance of this award is based on the percentile ranking of Lam Research's Total Shareholder Return relative to the Total Shareholder Return of the companies in the PHLX Semiconductor Total Return Index during the performance period of 02/2/2026 through 02/01/2029.