01—Abstract
Summary
Summary of the 8-K filed September 25, 2024. Cited figures are marked; the original filing is the authoritative source.
Lam Research Corporation (LRCX) has filed an 8-K to provide investors with an update on its previously announced ten-for-one forward stock split.
The primary purpose of this filing is to announce the new CUSIP number for the company's common stock, which will be 512807306, effective after the stock split. This stock split is scheduled to become effective at 5:00 p.m. Eastern Time on October 2, 2024, with trading expected to commence on a split-adjusted basis on October 3, 2024.
Investors holding shares through a broker or electronically in book-entry form will have their shares automatically adjusted and will not need to take any action. Registered stockholders with physical certificates will need to surrender them to the transfer agent, Computershare, via a letter of transmittal to receive their post-split shares.
02—Key points
Key Highlights
- Lam Research (LRCX) announced the new CUSIP number (512807306) for its common stock following the 10-for-1 forward stock split.
- The stock split is set to become effective on October 2, 2024, at 5:00 p.m. ET.
- Trading on a split-adjusted basis is expected to begin on October 3, 2024, under the existing ticker symbol 'LRCX'.
- Registered stockholders holding physical stock certificates will need to take action by surrendering their certificates to the transfer agent, Computershare.
- Shareholders holding stock electronically or through a broker will have their shares automatically adjusted and require no action.
- The stock split was previously announced on May 21, 2024.
- Computershare Trust Company, N.A. is serving as the exchange agent for the stock split.
03—Questions
Frequently Asked Questions
What is the main purpose of this 8-K filing?
The primary purpose of this 8-K filing is to formally announce the new CUSIP number for Lam Research's common stock following its upcoming ten-for-one forward stock split and to provide procedural details for shareholders.
When will the stock split become effective, and when will trading start on a split-adjusted basis?
The stock split will become effective at 5:00 p.m. Eastern Time on October 2, 2024. Trading on a split-adjusted basis is expected to commence at the market open on October 3, 2024.
Do I need to do anything if I hold my LRCX shares through a brokerage account or electronically?
No, if you hold your shares of Lam Research common stock electronically in book-entry form or through a broker, bank, custodian, or other nominee, your shares will be automatically adjusted to reflect the stock split. You should not need to take any action, but you may wish to confirm with your broker for specific processes.
What action is required for shareholders holding physical stock certificates?
Registered stockholders holding physical stock certificates will need to contact the Company's transfer agent, Computershare, and submit a letter of transmittal to surrender their existing certificates in exchange for post-split shares in electronic, book-entry form. These old certificates will still represent ownership but must be surrendered before any transfer can occur after the split.
04—Continue