Bettinger Douglas R 4

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.