8-KLeadership Changes

APPLIED MATERIALS INC /DE 8-K Report, Executive Changes (Jan 23, 2018)

Filed January 23, 2018For Securities:AMAT

Summary

Applied Materials, Inc. (AMAT) announced the appointment of Scott A. McGregor to its Board of Directors, effective immediately on January 22, 2018. Mr. McGregor is expected to join the Audit Committee in March 2018. This appointment is a key development for the company's governance and strategic oversight. Mr. McGregor will receive standard compensation for non-employee directors, including an annual retainer of $70,000 and a restricted stock unit grant valued at $225,000. The stock units are set to fully vest on March 1, 2018, contingent on his continued service. Investors should note this addition to the board as it may signal a focus on experienced leadership and committee participation.

Key Highlights

  • 1Scott A. McGregor appointed to Applied Materials' Board of Directors, effective January 22, 2018.
  • 2Mr. McGregor is expected to be appointed to the Audit Committee in March 2018.
  • 3Non-employee director compensation includes a $70,000 annual retainer.
  • 4Restricted stock units valued at $225,000 will be granted to Mr. McGregor.
  • 5The restricted stock units are scheduled to vest in full on March 1, 2018, subject to continued service.
  • 6This filing is an 8-K, indicating a material event has occurred.

Frequently Asked Questions

Scott A. McGregor has been appointed as a member of the Board of Directors for Applied Materials, Inc. He is expected to join the Audit Committee in March 2018.

Mr. McGregor will receive standard compensation for non-employee directors, which includes a $70,000 annual retainer and a restricted stock unit grant valued at $225,000 on the date of his appointment, prorated for the current fiscal year.

The restricted stock units granted to Mr. McGregor are scheduled to vest in full on March 1, 2018, provided he continues to serve as a director through that date.

The appointment of Mr. McGregor, a new director, can be seen as an enhancement to the company's governance and oversight. His expected role on the Audit Committee suggests a focus on financial reporting and internal controls.