LAM RESEARCH CORP 10-K

Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities Stock Information Our Common Stock is traded on the Nasdaq Global Select Market SM under the symbol “LRCX.” As of August 4, 2026, we had 305 stockholders of record. 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. Dividends Our Board of Directors has declared quarterly dividends since April 2014. Our intent to continue to pay quarterly dividends is subject to capital availability and periodic determinations by our Board of Directors that cash dividends are in the best interest of our stockholders and are in compliance with all laws and agreements applicable to the declaration and payment of cash dividends by us. During fiscal year 2026, our quarterly dividend declared was $0.26 per share. Repurchases of Company Shares In May 2024, the Board of Directors authorized management to repurchase up to an additional $10.00 billion of Common Stock; this authorization supplements the remaining balance from any prior authorization. These repurchases can be conducted on the open market or as private purchases and may include the use of derivative contracts with large financial institutions, in all cases subject to compliance with applicable law. This repurchase program has no termination date and may be suspended or discontinued at any time. Accelerated Share Repurchase Agreements 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. 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. 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. 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. 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. 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: Period Total Number of Shares Repurchased Average Price Paid per Share (1,2) Total Number of Shares Purchased as Part of Publicly Announced Plans or Programs Amount Available Under Repurchase Program (in thousands, except per share data) Available balance as of June 29, 2025 $ 7,517,184 Quarter ended September 28, 2025 9,686 (3) $ 105.67 9,686 (3) 6,527,138 Quarter ended December 28, 2025 9,387 $ 153.62 9,387 5,085,043 Quarter ended March 29, 2026 3,516 (3) $ 210.57 3,516 (3) 4,288,665 April 27, 2026 - May 24, 2026 414 $ 287.93 414 4,169,403 May 25, 2026 - June 28, 2026 397 (3) $ 370.15 397 (3) 4,042,724 Total 23,400 $ 325.14 (4) 23,400 $ 4,042,724 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. Lam Research Corporation 2026 10-K 30 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. (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. Cumulative Five-Year Return The graph below compares Lam Research Corporation’s cumulative five-year total shareholder return on Common Stock with the cumulative total returns of the Philadelphia Semiconductor Sector Total Return Index, the Nasdaq Composite Total Return index, and the Standard & Poor’s (“S&P”) 500 (TR) index. The graph tracks the performance of a $100 investment in our Common Stock and in each of the indices (with the reinvestment of all dividends) for the five years ended June 28, 2026. COMPARISON OF FIVE-YEAR CUMULATIVE TOTAL RETURN* Among Lam Research Corporation, the Philadelphia Semiconductor Sector Total Return Index, the Nasdaq Composite Total Return Index, and the S&P 500 (TR) Index. *$100 invested on June 25, 2021 in stock or index, including reinvestment of dividends. Copyright © 2026 Standard & Poor’s, a division of S&P Global. All rights reserved. June 25, 2021 June 26, 2022 June 25, 2023 June 30, 2024 June 29, 2025 June 28, 2026 Lam Research Corporation $ 100.00 $ 72.20 $ 99.01 $ 174.88 $ 161.45 $ 633.13 Philadelphia Semiconductor Sector Total Return Index $ 100.00 $ 84.94 $ 111.16 $ 175.35 $ 179.32 $ 429.87 Nasdaq Composite Total Return Index $ 100.00 $ 81.39 $ 95.46 $ 126.45 $ 145.57 $ 182.76 S&P 500 (TR) Index $ 100.00 $ 93.57 $ 105.82 $ 134.93 $ 154.57 $ 186.37 Lam Research Corporation 2026 10-K 31 Tab le o f Content s Item 6. [Reserved]