Lam Research Annual Meeting: Vote on Directors, Pay, and Auditors
Ticker: LRCX · Form: DEF 14A · Filed: 2024-09-25T00:00:00.000Z
Sentiment: neutral
Topics: annual-meeting, governance, executive-compensation, auditor-ratification
Related Tickers: LRCX
TL;DR
LRCX annual meeting Nov 5th - vote on directors, exec pay, and auditors. Virtual meeting.
AI Summary
Lam Research Corporation (LRCX) is holding its 2024 Annual Meeting of Stockholders virtually on November 5, 2024, at 9:30 a.m. Pacific Time. Stockholders will vote on electing eleven director nominees, an advisory vote on executive compensation, and ratifying Ernst & Young LLP as the independent auditor.
Why It Matters
This filing outlines the key proposals shareholders will vote on, impacting the company's governance, executive compensation, and financial oversight.
Risk Assessment
Risk Level: low — This is a standard annual meeting proxy statement detailing routine corporate governance matters.
Key Numbers
- 11 — Director Nominees (Stockholders will vote to elect these individuals to the board.)
Key Players & Entities
- Lam Research Corporation (company) — Registrant
- November 5, 2024 (date) — Annual Meeting Date
- Ernst & Young LLP (company) — Independent Registered Public Accounting Firm
- eleven (number) — Number of Director Nominees
FAQ
When and where is the Lam Research 2024 Annual Meeting of Stockholders?
The meeting will be held virtually on Tuesday, November 5, 2024, at 9:30 a.m. Pacific Time.
What are the main proposals stockholders will vote on?
Stockholders will vote on electing eleven director nominees, an advisory vote to approve named executive officer compensation, and ratifying the appointment of Ernst & Young LLP as the independent registered public accounting firm.
How can stockholders attend and participate in the virtual meeting?
Stockholders can attend, vote, and submit questions by visiting virtualshareholdermeeting.com/LRCX2024 and entering their 16-digit control number.
Who is proposed as the independent registered public accounting firm for Lam Research?
Ernst & Young LLP is proposed to be ratified as the independent registered public accounting firm.
What is the term for the elected directors?
The elected directors will serve until the next annual meeting of stockholders and until their respective successors are elected and qualified.
Filing Stats: 4,353 words · 17 min read · ~15 pages · Grade level 16.4 · Accepted 2024-09-25 16:16:06
Filing Documents
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Executive Compensation Highlights
Executive Compensation Highlights 6 ESG Highlights 7 Stock Ownership 9
Security Ownership of Certain Beneficial Owners and Management
Security Ownership of Certain Beneficial Owners and Management 9 Delinquent Section 16(a) Reports 10 Governance Matters 11 Corporate Governance 11 Corporate Governance Policies 11 Our Approach to Ensuring Board Effectiveness 11 Board Nomination Policies and Procedures 14 Director Independence Policies 15 Leadership Structure of the Board 15 Other Governance Practices 15 Meeting Attendance 16 Board Committees 16 Board's Role and Engagement 18 Stockholder Engagement 21 Culture and Human Capital Management 23 Environmental, Social, and Governance Matters 24 Director Compensation 27 Compensation Matters 30
Executive Compensation and Other Information
Executive Compensation and Other Information 30 Compensation Discussion and Analysis ( see Table of Contents on page 30 ) 30 Compensation Committee Report 54 Compensation Committee Interlocks and Insider Participation 54
Executive Compensation Tables
Executive Compensation Tables 55 CEO Pay Ratio 64 Pay Versus Performance 65 Securities Authorized for Issuance under Equity Compensation Plans 69 Audit Matters 70 Audit Committee Report 70 Relationship with Independent Registered Public Accounting Firm 71 Annual Evaluation and Selection of Independent Registered Public Accounting Firm 71 Fees Billed by Ernst & Young LLP 71 Policy on Audit Committee Pre-Approval of Audit and Non-Audit Services 72 Certain Relationships and Related Party Transactions 72 Voting Proposals 73 Proposal No. 1: Election of Directors 73 2024 Nominees for Director 74 Proposal No. 2: Advisory Vote to Approve Our Named Executive Officer Compensation 85 Proposal No. 3: Ratification of the Appointment of Ernst & Young LLP as our Independent Registered Public Accounting Firm for Fiscal Year 2025 86 Other Voting Matters 86 Voting and Meeting Information 87 Information Concerning Solicitation and Voting 87 Other Meeting Information 89 Appendices 91 Appendix A - Information Regarding Non-GAAP Financial Measures 91 Table of Contents Proxy Statement Summary To assist you in reviewing the proposals to be acted upon at the annual meeting, we call your attention to the following summarized information about the Company, the proposals and voting recommendations, the Company's director nominees, highlights of the directors' key qualifications, skills and experiences, board composition, corporate governance, executive compensation, and environmental, social, and governance ("ESG") matters. For more information about these topics, please review the complete proxy statement before voting. We also encourage you to read our latest annual report on Form 10-K, which is available at investor.lamresearch.com , and our latest ESG report, which is available at lamresearch.com/company/environmental-social-and-governance/. The content of any website or report referred to in this p