EQUITY-BASED COMPENSATION PLANS

6 Months Ended

Dec. 28, 2025

Share-Based Payment Arrangement [Abstract]

The Lam Research Corporation 2015 Stock Incentive Plan, as amended, and the Lam Research Corporation 2025 Stock Incentive Plan provide for the grant of non-qualified equity-based awards of the Company’s Common Stock to eligible employees and non-employee directors, including stock options, restricted stock units (“RSUs”), and market-based performance RSUs (“market-based PRSUs”). An option is a right to purchase Common Stock at a set price. An RSU award is an agreement to issue a set number of shares of Common Stock at the time of vesting. The Company’s market-based PRSUs contain both a market condition and a service condition. The Company’s option, RSU, and market-based PRSU awards typically vest over a period of three years. The Company also has an employee stock purchase plan that allows eligible employees to purchase its Common Stock at a discount through payroll deductions.

The Company recognized the following equity-based compensation expense (including expense related to the employee stock purchase plan) in the Condensed Consolidated Statements of Operations:


	Three Months Ended				Six Months Ended
	December 28, 2025		December 29, 2024		December 28, 2025		December 29, 2024
	(in thousands)
Equity-based compensation expense	$	88,539	$	81,959	$	185,780	$	161,970