8-KRegulation FDExhibits & Filings

LAM RESEARCH CORP 8-K Report, Regulation FD Disclosure (Dec 11, 2017)

Filed December 11, 2017For Securities:LRCX

Summary

Lam Research Corporation (LRCX) filed a Form 8-K on December 11, 2017, to disclose important information regarding its convertible senior notes. The filing primarily concerns the adjustment of the conversion rates for its 1.25% Convertible Senior Notes due 2018 and its 2.625% Senior Convertible Notes due 2041. These adjustments were communicated to the respective noteholders through formal notices, as required by the governing indentures. While this filing does not contain new financial statements or significant operational updates, it is crucial for investors holding or considering these specific debt instruments. Changes in conversion rates can impact the potential equity dilution for common shareholders and the value proposition for convertible note holders, especially as the notes approach their maturity dates or in response to certain corporate events or stock price movements. Investors should review the attached notices for the specific details and implications of these conversion rate adjustments.

Key Highlights

  • 1Lam Research issued notices of adjustment to the conversion rates for its 1.25% Convertible Senior Notes due 2018.
  • 2Lam Research issued notices of adjustment to the conversion rates for its 2.625% Senior Convertible Notes due 2041.
  • 3The adjustments are made pursuant to the terms of the respective indentures governing these convertible notes.
  • 4These notices were distributed to the holders of the specified convertible notes.
  • 5The filing is made under Regulation FD, ensuring broad public disclosure.
  • 6The information furnished is not considered 'filed' for purposes of Section 18 of the Exchange Act, limiting liability.
  • 7Exhibits 99.1 and 99.2 contain the full text of the Notices of Adjustment of Conversion Rate.

Frequently Asked Questions

The main purpose of this 8-K filing is to publicly disclose that Lam Research Corporation has provided notices to holders of its 1.25% Convertible Senior Notes due 2018 and 2.625% Senior Convertible Notes due 2041 regarding adjustments to the conversion rates of these notes.

An adjustment to the conversion rate means that the number of shares of common stock a noteholder can receive upon converting their notes has changed. This can affect the potential dilution for existing shareholders and the economic value for the noteholders, depending on the direction and magnitude of the adjustment and the company's stock performance.

No, this specific 8-K filing (Item 7.01) does not disclose any new financial performance data, results of operations, or material business events. It is solely for the purpose of informing the public about the conversion rate adjustments to specific debt instruments.

The detailed information regarding the specific adjustments to the conversion rates for the 2018 Notes and 2041 Notes can be found in Exhibits 99.1 and 99.2, respectively, which are attached to this Form 8-K filing.