2 unchanged sentences
Our Common Stock is traded on the Nasdaq Global Select Market SM under the symbol “LRCX.” As of August 22, 2024, we had 416 stockholders of record.
+Added: On May 21, 2024, we announced a 10-for-one stock split, which is expected to be effective after market close on October 2, 2024, for stockholders of record at that time.
+Added: Share and per share information throughout this Annual Report on Form 10-K has not been adjusted for the effects of the stock split.
Our Board of Directors has declared quarterly dividends since April 2014.
7 unchanged sentences
Accelerated Share Repurchase Agreements
−Removed: On June 2, 2022, we entered into an accelerated share repurchase agreement (the "June 2022 ASR") with two financial institutions to repurchase a total of $500 million of Common Stock.
−Removed: 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 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 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.
+Added: On February 1, 2024, we entered into accelerated share repurchase agreements (the "February 2024 ASRs") with two financial institutions to repurchase a total of $700 million of Common Stock.
+Added: We took an initial delivery of approximately 631 thousand shares, which represented 75% of the prepayment amount divided by our closing stock price on February 1, 2024.
+Added: The total number of shares received under the February 2024 ASRs 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 February 2024 ASRs occurred during April 2024, resulting in the receipt of approximately 140 thousand additional shares, which yielded a weighted-average share price of $917.38 (net of applicable excise taxes) for the transaction period.
Share repurchases, including those under the repurchase program, were as follows:
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Quarter ended March 31, 2024 951 $ 853.12 828 (4) 1,206,992
−Removed: March 27, 2023 - April 23, 2023 379 $ 508.62 377 4,251,363
+Added: April 1, 2024 - April 28, 2024 142 $ 882.88 140 (4) 1,206,729
+Added: Board authorization, $10.0 billion, May 2024 — $ — — 11,206,729
April 29, 2024 - May 26, 2024 24 $ 974.07 21 11,186,612
5 unchanged sentences
See additional disclosure above regarding our accelerated share repurchase activity during the fiscal year.
−Removed: (3) As of January 1, 2023, our net share repurchases are subject to a 1% excise tax under the Inflation Reduction Act.
+Added: Lam Research Corporation 2024 10-K 27
+Added: Table of Content
+Added: (3) Our net share repurchases are subject to a 1% excise tax under the Inflation Reduction Act.
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.
+Added: (4) Includes shares received at initial or final settlement of accelerated share repurchase agreements;
+Added: see additional disclosures above regarding our accelerated share repurchase activity during the fiscal year.
(5) Average price paid per share presented is for the quarter ended June 30, 2024.
−Removed: Lam Research Corporation 2023 10-K 26
Cumulative Five-Year Return
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*$100 invested on June 30, 2019 in stock or index, including reinvestment of dividends.
+Added: Copyright © 2024 Standard & Poor’s, a division of S&P Global.
+Added: All rights reserved.
June 30, 2019 June 28, 2020 June 27, 2021 June 26, 2022 June 25, 2023 June 30, 2024
4 unchanged sentences
Lam Research Corporation 2024 10-K 28
+Added: Table of Content
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.