Item 5.02. Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
On February 21, 2023, Lam Research Corporation (the "Company") announced that
Patrick J. Lord, Ph.D. was appointed as the Company's executive vice president
and chief operating officer, effective March 1, 2023. Dr. Lord was previously
the Company's executive vice president of Customer Support Business Group
("CSBG") and Global Operations. In addition, Christina (Tina) C. Correia was
appointed as the Company's chief accounting officer, effective March 1, 2023.
Ms. Correia also serves as the Company's corporate vice president of Corporate
Finance and Investor Relations.
Dr. Lord, age 57, has been the executive vice president of CSBG and Global
Operations since September 2020. Dr. Lord was senior vice president and general
manager of CSBG from December 2016 to September 2020. Prior to that, Dr. Lord
held the position of group vice president and deputy general manager of the
Global Products Group from September 2013 to December 2016. He served as the
head of the Direct Metals, GapFill, Surface Integrity Group, and Integrated
Metals ("DGSI") Business Units between June 2012 and September 2013. Prior to
the Company's acquisition of Novellus Systems, Inc. ("Novellus") in June 2012,
Dr. Lord was senior vice president and general manager of the DGSI Business
Units at Novellus. Additionally, Dr. Lord previously held the position of senior
vice president of Business Development and Strategic Planning. He joined
Novellus in 2001 and held a number of other positions, including senior vice
president and general manager of the CMP Business Unit, senior director of
Business Development, senior director of Strategic Marketing, and acting vice
president of Corporate Marketing. Before joining Novellus, Dr. Lord spent six
years at KLA-Tencor in various product marketing and management roles. He earned
his Ph.D., M.S., and B.S. degrees in mechanical engineering from the
Massachusetts Institute of Technology.
There are no arrangements or understandings between Dr. Lord and any other
persons pursuant to which Dr. Lord was named as executive vice president and
chief operating officer of the Company. Dr. Lord does not have any family
relationship with any of the Company's directors or executive officers or any
persons nominated or chosen by the Company to be a director or executive
officer. Dr. Lord has no direct or indirect material interest in any transaction
or proposed transaction required to be reported under Section 404(a) of
Regulation S-K or Item 5.02(c) of Form 8-K.
Ms. Correia, age 52, has been the corporate vice president of Corporate Finance
and Investor Relations since April 2020. She previously was the corporate vice
president of Corporate Communications and Investor Relations from September 2018
to April 2020 and has served in a variety of leadership positions since joining
the Company in 2002, including serving as chief of staff to the chief executive
officer, and as vice president of Business Finance. Prior to joining the
Company, she served at BroadVision, Inc., where she most recently served as the
company's vice president and corporate controller in addition to several
senior-level finance positions. She started her career at KPMG LLP, where she
worked in the firm's assurance practice. Ms. Correia earned her B.S. degree in
business administration with emphases in accounting and finance from the
University of California at Berkeley and is a licensed Certified Public
Accountant (inactive).
There are no arrangements or understandings between Ms. Correia and any other
persons pursuant to which Ms. Correia was named as corporate vice president and
chief accounting officer of the Company. Ms. Correia does not have any family
relationship with any of the Company's directors or executive officers or any
persons nominated or chosen by the Company to be a director or executive
officer. Ms. Correia has no direct or indirect material interest in any
transaction or proposed transaction required to be reported under Section 404(a)
of Regulation S-K or Item 5.02(c) of Form 8-K.
In accordance with the Company's customary practice, the Company is entering
into its standard form of indemnification agreement with Ms. Correia, which will
require the Company to indemnify her against certain liabilities that may arise
as a result of her status or service as corporate vice president and chief
accounting officer. The description of the indemnification agreement with Ms.
Correia is qualified in its entirety by the full text of the form of
indemnification agreement, which is attached to the Company's Quarterly Report
on Form 10-Q dated April 24, 2017 as Exhibit 10.1.
On February 21, 2023, the Company issued a press release announcing the
appointment of Dr. Lord. A copy of the press release is furnished as Exhibit
99.1 to this Current Report on Form 8-K.
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Item 9.01. Financial Statements and Exhibits
(d) Exhibits
99.1 Press Release dated February 21, 2023
104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within
the Inline XBRL document
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