Bettinger Douglas R 4

4 · LAM RESEARCH CORP · Filed Mar 3, 2026

AI-generated summary of this filing

Updated Mar 3, 2026

Lam Research (LRCX) CFO Douglas Bettinger Exercises Options and Sells Shares

What Happened

Douglas R. Bettinger, CFO of Lam Research (LRCX), exercised stock options to acquire 66,310 shares on 2026-03-02 (16,620 @ $59.88; 37,980 @ $54.06; 11,710 @ $30.03), paying approximately $3.40M in aggregate. On the same day he sold 40,329 shares in an open-market transaction for a weighted-average price of $230.22, generating proceeds of about $9.28M. Net effect of these transactions: +25,981 shares retained (66,310 acquired minus 40,329 sold), though the filing does not list total post-transaction holdings.

Key Details

Transaction date: 2026-03-02 (reported on Form 4 filed 2026-03-03 — timely filing).
Option exercises (all reported as "M"): 16,620 @ $59.88 = $995,222; 37,980 @ $54.06 = $2,053,085; 11,710 @ $30.03 = $351,686; total cash paid ≈ $3,399,993.
Open-market sale (S): 40,329 shares @ weighted avg $230.22 = $9,284,542. Sale prices ranged about $230.07 to $230.39 per footnote.
Net share change from these entries: +25,981 shares (66,310 acquired less 40,329 sold).
Footnote: reported amounts include shares subject to unvested restricted stock units (F1). Several footnotes note prior option vesting schedules (F3–F5).
No indication of a 10% owner status or a 10b5-1 plan in the filing.

Context

These transactions are a combination of option exercises (derivative -> acquiring shares) and a partial sale of shares. Exercising options requires paying the strike price (a cash outlay here ~ $3.4M); selling shares generated larger proceeds (~ $9.3M). Such paired transactions are commonly used by insiders to exercise options and monetize part of the resulting stock, but the filing itself does not state motives.
The filing appears timely (filed the business day after the trades). The presence of unvested RSUs in reported totals means some reported holdings may remain subject to vesting restrictions.

Form 4

Period: 2026-03-02

Chief Financial Officer & EVP

Transactions

Exercise/Conversion
Common Stock
[F1]
2026-03-02$59.88/sh+16,620$995,222→ 1,044,651 total
Exercise/Conversion
Common Stock
[F1]
2026-03-02$54.06/sh+37,980$2,053,085→ 1,082,631 total
Exercise/Conversion
Common Stock
[F1]
2026-03-02$30.03/sh+11,710$351,686→ 1,094,341 total
Sale
Common Stock
[F2][F1]
2026-03-02$230.22/sh−40,329$9,284,542→ 1,054,012 total
Exercise/Conversion
Employee Stock Option (Right to Buy)
[F3]
2026-03-02−16,620→ 0 total
Exercise: $59.88Exp: 2028-03-01→ Common Stock (16,620 underlying)
Exercise/Conversion
Employee Stock Option (Right to Buy)
[F4]
2026-03-02−37,980→ 0 total
Exercise: $54.06Exp: 2029-03-01→ Common Stock (37,980 underlying)
Exercise/Conversion
Employee Stock Option (Right to Buy)
[F5]
2026-03-02−11,710→ 0 total
Exercise: $30.03Exp: 2027-03-02→ Common Stock (11,710 underlying)

Footnotes (5)

[F1]The amount reported includes shares subject to unvested restricted stock units.
[F2]The price reported in Column 4 is a weighted average sale price. These shares were sold in multiple transactions at prices ranging from $230.07 .00 to $230.39, inclusive
[F3]The stock options will become exercisable in three equal installments on 03/01/2022, 03/01/2023 and 03/01/2024.
[F4]The stock options will become exercisable in three equal installments on 03/01/2023, 03/01/2024 and 03/01/2024.
[F5]The stock options will become exercisable in three equal installments on 03/02/2021, 03/02/2022, and 03/02/2023.

Signature

Marta Woods by Power of Attorney|2026-03-03

1 file