Lam Research (LRCX) SVP Varadarajan Seshasayee Sells Shares & Exercises Options

What Happened

• Varadarajan Seshasayee, Senior Vice President of Lam Research, executed multiple transactions on 2026-09-02. He sold three blocks of open-market shares (20,000; 12,270; 27,480) at $291.32 for total proceeds of $17,406,370. On the same day he exercised options/converted derivatives to acquire 12,270 shares at $59.88 ($734,740) and 27,480 shares at $30.03 ($825,307), totaling $1,560,047 in option exercise costs. The filing also shows derivative disposition entries of 12,270 and 27,480 shares reported at $0.00 (see Key Details).

Key Details

• Transaction date: 2026-09-02; filing date: 2026-09-03 (timely).
• Sales: 20,000 @ $291.32 = $5,826,400; 12,270 @ $291.32 = $3,574,496; 27,480 @ $291.32 = $8,005,474. Total open-market proceeds ≈ $17,406,370.
• Option/derivative exercises (acquisitions): 12,270 @ $59.88 = $734,740; 27,480 @ $30.03 = $825,307. Total exercise outlay ≈ $1,560,047.
• Two derivative disposals reported at $0.00 for 12,270 and 27,480 shares (these are reported as derivative/option-related dispositions in the filing).
• Shares owned after the transactions: not specified in the provided filing details.
• Footnotes: F1 = at least one sale was under a Rule 10b5-1 trading plan (adopted May 4, 2026); F2 = reported amount includes shares subject to unvested RSUs; F3/F4 = notes on option vesting schedules (prior vesting dates shown).
• Filing timeliness: no late filing indicated.

Context

• This filing shows both option exercises (acquiring shares by paying strike prices) and large same-day open-market sales. When exercises and sales occur together, it can reflect standard option-exercise and liquidity/tax-management activity; the 10b5-1 plan disclosure indicates at least some sales were pre-planned. The derivative entries reported at $0.00 reflect option/derivative settlements reported as dispositions rather than cash sales. As always, these transactions are factual disclosures and do not by themselves indicate a change in insider confidence.