Bettinger Douglas R 4

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.