3 unchanged sentences
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.
−Removed: 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.
−Removed: 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
+Added: On March 11, 2026, we entered into an accelerated share repurchase agreement (the “March 2026 ASR”) with a financial institution to repurchase a total of $200.0 million of Common Stock.
+Added: We took an initial delivery of approximately 685 thousand shares, which represented 75% of the prepayment amount divided by our closing stock price on March 11, 2026.
+Added: The total number of shares received under the March 2026 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 March 2026 ASRs occurred in June 2026, resulting in the receipt of approximately 55 thousand additional shares, which yielded a weighted-average share price of $270.71 for the transaction period, including the effects of a 1% excise tax under the Inflation Reduction Act.
On April 30, 2025, we entered into accelerated share repurchase agreements (the "April 2025 ASRs") with two financial institutions to repurchase a total of $500.0 million of Common Stock.
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.
−Removed: 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.
−Removed: Final settlement of the April 2025 ASRs will occur no later than September 8, 2025.
+Added: The total number of shares received under the April 2025 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 April 2025 ASRs occurred in September 2025, resulting in the receipt of approximately 317 thousand additional shares, which yielded a weighted-average share price of $91.00 for the transaction period, including the effects of a 1% excise tax under the Inflation Reduction Act.
Share repurchases, including those under the repurchase program, were as follows:
12 unchanged sentences
Quarter ended March 29, 2026 3,516 (3) $ 210.57 3,516 (3) 4,288,665
−Removed: March 31, 2025 - April 27, 2025 4,289 (3) $ 67.06 4,289 (3) 8,536,414
April 27, 2026 - May 24, 2026 414 $ 287.93 414 4,169,403
1 unchanged sentence
23,400 $ 325.14 (4) 23,400 $ 4,042,724
+Added: There were no share repurchases in the fiscal month ending April 26, 2026.
(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.
+Added: Lam Research Corporation 2026 10-K 30
+Added: Tab le o f Content s
(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: (3) Includes shares received at initial settlement of accelerated share repurchase agreements;
+Added: (3) Includes shares received at initial or final 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 28, 2026.
−Removed: Lam Research Corporation 2025 10-K 27
Cumulative Five-Year Return
12 unchanged sentences
Lam Research Corporation 2026 10-K 31
+Added: Tab le o f Content s
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.