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.