13 unchanged sentences
We took an initial delivery of approximately 717 thousand shares, which represented 75% of the prepayment amount divided by our closing stock price on June 2, 2022.
−Removed: The total number of shares received under the June 2022 ASR will be based upon the average daily volume weighted average price of our Common Stock during the repurchase period, less an agreed upon discount.
−Removed: Final settlement of the June 2022 ASR will occur between August 18, 2022 and November 4, 2022.
−Removed: On February 15, 2022, we entered into an accelerated share repurchase agreement (the "February 2022 ASR") with two financial institutions to repurchase a total of $600 million of Common Stock.
−Removed: We took an initial delivery of approximately 758 thousand shares, which represented 75% of the prepayment amount divided by our closing stock price on February 15, 2022.
−Removed: The total number of shares received under the February 2022 ASR was based upon the average daily volume weighted average price of our Common Stock during the repurchase period, less an agreed upon discount.
−Removed: Final settlement of the February 2022 ASR occurred in May 2022, resulting in the receipt of approximately 438 thousand additional shares, which yielded a weighted-average share price of $502.06 for the transaction period.
−Removed: On August 31, 2021, we entered into an accelerated share repurchase agreement (the “August 2021 ASR") with two financial institutions to repurchase a total of $650 million of Common Stock.
−Removed: We took an initial delivery of approximately 806 thousand shares, which represented 75% of the prepayment amount divided by our closing stock price on August 31, 2021.
−Removed: The total number of shares received under the August 2021 ASR was based upon the average daily volume weighted average price of our Common Stock during the repurchase period, less an agreed upon discount.
−Removed: Final settlement of the August 2021 ASR occurred in January 2022, resulting in the receipt of approximately 265 thousand additional shares, which yielded a weighted-average share price of $606.71 for the transaction period.
−Removed: Lam Research Corporation 2022 10-K 25
+Added: The total number of shares received under the June 2022 ASR was based upon the average daily volume weighted average price of our Common Stock during the repurchase period, less an agreed upon discount.
+Added: Final settlement of the June 2022 ASR occurred in September 2022, resulting in the receipt of approximately 433 thousand additional shares, which yielded a weighted-average share price of $435.20 for the transaction period.
Share repurchases, including those under the repurchase program, were as follows:
13 unchanged sentences
March 27, 2023 - April 23, 2023 379 $ 508.62 377 4,251,363
−Removed: Board authorization, $5.0 billion, May 2022 — $ — — 6,382,287
April 24, 2023 - May 21, 2023 608 $ 535.36 603 3,928,585
3 unchanged sentences
The shares retained by us through these net share settlements are not a part of the Board-authorized repurchase program but instead are authorized under our equity compensation plan.
−Removed: (2) Average price paid per share excludes the effect of accelerated share repurchases.
+Added: (2) Average price paid per share excludes the effect of accelerated share repurchase activities.
See additional disclosure above regarding our accelerated share repurchase activity during the fiscal year.
+Added: (3) As of January 1, 2023, our net share repurchases are subject to a 1% excise tax under the Inflation Reduction Act.
+Added: Excise tax incurred reduces the amount available under repurchase programs, as applicable, and is included in the cost of shares repurchased in the Consolidated Statement of Stockholders’ Equity and the calculation of the average price paid per share.
(4) Average price paid per share presented is for the quarter ended June 25, 2023.
5 unchanged sentences
Among Lam Research Corporation, the Philadelphia Semiconductor Sector Total Return Index, the Nasdaq Composite Total Return Index, and the S&P 500 (TR) Index.
−Removed: *$100 invested on June 25, 2017 in stock or June 30, 2017 in index, including reinvestment of dividends.
−Removed: Indexes calculated on month-end basis.
−Removed: Copyright © 2022 Standard & Poor’s, a division of S&P Global.
−Removed: All rights reserved.
+Added: *$100 invested on June 24, 2018 in stock or index, including reinvestment of dividends.
June 24, 2018 June 30, 2019 June 28, 2020 June 27, 2021 June 26, 2022 June 25, 2023
5 unchanged sentences
Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.