8-KRegulation FDExhibits & Filings

LAM RESEARCH CORP 8-K Report, Regulation FD Disclosure (Dec 11, 2020)

Filed December 11, 2020For Securities:LRCX

Summary

Lam Research Corporation (LRCX) filed an 8-K on December 11, 2020, to disclose an adjustment to the conversion rate of its 2.625% Senior Convertible Notes due 2041. This adjustment was made pursuant to the indenture governing these notes. While the specific reasons for the adjustment are not detailed in this filing, it's important for holders of these notes to be aware of this change as it impacts the terms under which the notes can be converted into company stock. Investors holding these convertible notes should review the "Notice of Adjustment of Conversion Rate" attached as Exhibit 99.1 to understand the precise details of the adjustment and its potential implications for their investment. The company is furnishing this information under Regulation FD and clarifies that it is not considered "filed" for purposes of liability under the Securities Exchange Act, nor is it incorporated by reference into other filings unless explicitly stated.

Key Highlights

  • 1Lam Research (LRCX) filed an 8-K on December 11, 2020.
  • 2The filing pertains to a Regulation FD disclosure.
  • 3The company announced an adjustment to the conversion rate of its 2.625% Senior Convertible Notes due 2041.
  • 4This adjustment is in accordance with the terms of the indenture dated May 10, 2011.
  • 5A "Notice of Adjustment of Conversion Rate" has been distributed to holders of the 2041 Notes.
  • 6The notice is included as Exhibit 99.1 to the 8-K filing.
  • 7Information furnished under Item 7.01 is not deemed "filed" for liability purposes under Section 18 of the Exchange Act.

Frequently Asked Questions

The main purpose of this 8-K filing is to officially disclose an adjustment to the conversion rate of Lam Research's 2.625% Senior Convertible Notes due 2041, as required by Regulation FD.

Holders of Lam Research's 2.625% Senior Convertible Notes due 2041 are directly affected by this adjustment, as it changes the number of shares of company stock they can receive upon converting their notes.

More detailed information about the specific adjustment can be found in the "Notice of Adjustment of Conversion Rate" which is attached as Exhibit 99.1 to this Form 8-K filing.

While this filing itself may not directly cause a significant stock price movement, changes in convertible note terms, especially conversion rates, can influence the perceived value and potential dilution for common shareholders. Investors should analyze the details of the adjustment and its potential impact on future share conversion.