Summary
Lam Research Corporation (LRCX) filed an amendment to its 8-K report on February 9, 2012, to update the frequency of advisory shareholder votes on executive compensation. Following a previous shareholder preference, the Board of Directors has determined that the company will hold an advisory "say-on-pay" vote annually. This decision aligns with the majority sentiment expressed by the company's stockholders.
Key Highlights
- 1Lam Research will hold an annual advisory shareholder vote on executive compensation.
- 2This decision was made by the Board of Directors on February 6, 2012.
- 3The company is acting on the stated preference of a majority of its stockholders.
- 4The annual "say-on-pay" vote will continue until the next required advisory vote on frequency, which is no later than the 2017 annual meeting.
- 5This filing is an amendment (8-K/A) to a previous report filed on November 9, 2011.
- 6The Vice President, General Counsel and Secretary signed the filing on behalf of the company.
Frequently Asked Questions
This filing serves to inform the public and shareholders about Lam Research's decision regarding the frequency of advisory shareholder votes on executive compensation, a requirement under SEC rules.
Lam Research will hold an advisory shareholder vote on executive compensation every year.
The Board of Directors made this decision based on the preference of a majority of the company's stockholders, as indicated in previous shareholder feedback.
The company will hold an advisory vote on the frequency of executive compensation votes no later than its annual meeting of stockholders in 2017.