CHEN XUN 4

What Happened Dr. Chen Xun, a non-employee member of the Applied Materials (AMAT) Board of Directors, received an automatic annual grant of 741 restricted stock units (RSUs) on 2026-03-12. The grant was reported at $0.00 per unit (award code A); there was no cash purchase or sale. These RSUs are scheduled to vest on March 1, 2027, subject to continued service as a director. Per Dr. Chen’s election to defer, any units that vest will be converted one-for-one into Applied common shares and paid to him on the date he terminates Board service.

Key Details

• Transaction date: 2026-03-12; filing date: 2026-03-13 (timely).
• Transaction type/code: Award/Grant (A); price reported $0.00 per unit.
• Vesting: Scheduled for March 1, 2027, contingent on continued Board service.
• Deferral: Dr. Chen elected to defer payout; vested units convert 1:1 to shares and are paid upon termination of Board service (Footnote F1).
• Footnote F2: The filing notes that the reported share count includes 29,130 RSUs previously reported as vested that are also deferred and will convert to shares on termination.
• This is routine director compensation (not a market purchase or sale) and does not reflect an immediate market transaction.

Context RSU awards to directors are common compensation and typically vest over time; they become actual shares only on vesting (and here are further deferred until termination). Because this is an award rather than a purchase or sale, it is generally treated as routine pay rather than a direct signal of insider buying or selling.