2 unchanged sentences
Our Common Stock is traded on the Nasdaq Global Select Market SM under the symbol “LRCX.” As of August 7, 2025, we had 325 stockholders of record.
−Removed: 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.
−Removed: Share and per share information throughout this Annual Report on Form 10-K has not been adjusted for the effects of the stock split.
+Added: A substantially greater number of holders of our Common Stock are street name or beneficial holders, whose shares are held by banks, brokers and other financial institutions.
+Added: On October 2, 2024, the Company effected a 10-for-one stock split of its common stock and a proportional increase in the number of authorized shares.
+Added: Share and per share information throughout this Annual Report on Form 10-K have been retroactively adjusted to reflect the stock split.
Our Board of Directors has declared quarterly dividends since April 2014.
7 unchanged sentences
Accelerated Share Repurchase Agreements
−Removed: 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.
−Removed: 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.
−Removed: 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.
−Removed: 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.
+Added: On April 30, 2025, we entered into accelerated share repurchase agreements (the "April 2025 ASRs") with two financial institutions to repurchase a total of $500 million of Common Stock.
+Added: We took an initial delivery of approximately 5.2 million shares, which represented 75% of the prepayment amount divided by our closing stock price on April 30, 2025.
+Added: The total number of shares received under the April 2025 ASRs will be 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 April 2025 ASRs will occur no later than September 8, 2025.
Share repurchases, including those under the repurchase program, were as follows:
Period Total Number
−Removed: Repurchased (1)
+Added: Repurchased Average
per Share (1,2)
9 unchanged sentences
Quarter ended March 30, 2025 4,448 $ 77.91 4,448 8,824,012
−Removed: April 1, 2024 - April 28, 2024 142 $ 882.88 140 (4) 1,206,729
−Removed: Board authorization, $10.0 billion, May 2024 — $ — — 11,206,729
+Added: March 31, 2025 - April 27, 2025 4,289 (3) $ 67.06 4,289 (3) 8,536,414
April 28, 2025 - May 25, 2025 8,891 $ 77.23 8,891 7,749,275
1 unchanged sentence
40,499 $ 76.18 (4) 40,499 $ 7,517,184
−Removed: (1) During the fiscal year ended June 30, 2024, we acquired 144 thousand shares at a total cost of $135.9 million which we withheld through net share settlements to cover minimum tax withholding obligations upon the vesting of restricted stock unit awards granted under our equity compensation plans.
−Removed: 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.
(1) 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.
−Removed: Lam Research Corporation 2024 10-K 27
−Removed: Table of Content
(2) 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.
−Removed: (4) Includes shares received at initial or final settlement of accelerated share repurchase agreements;
+Added: (3) Includes shares received at initial settlement of accelerated share repurchase agreements;
see additional disclosures above regarding our accelerated share repurchase activity during the fiscal year.
(4) Average price paid per share presented is for the quarter ended June 29, 2025.
+Added: Lam Research Corporation 2025 10-K 27
Cumulative Five-Year Return
12 unchanged sentences
Lam Research Corporation 2025 10-K 28
−Removed: 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.