Summary
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.
Key Highlights
- 1Lam Research (LRCX) announced the new CUSIP number (512807306) for its common stock following the 10-for-1 forward stock split.
- 2The stock split is set to become effective on October 2, 2024, at 5:00 p.m. ET.
- 3Trading on a split-adjusted basis is expected to begin on October 3, 2024, under the existing ticker symbol 'LRCX'.
- 4Registered stockholders holding physical stock certificates will need to take action by surrendering their certificates to the transfer agent, Computershare.
- 5Shareholders holding stock electronically or through a broker will have their shares automatically adjusted and require no action.
- 6The stock split was previously announced on May 21, 2024.
- 7Computershare Trust Company, N.A. is serving as the exchange agent for the stock split.