Applied Materials Inc 8-K, filed Dec 8, 2020
Applied Materials Inc (AMAT)
About this 8-K
Applied Materials Inc filed this 8-K on December 8, 2020, reporting on events of December 4, 2020.
Items reported
- Item 5.02: Director or officer change, or executive pay
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| Item 5.02. | Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. |
On December 4, 2020, the Board of Directors (the “Board”) of Applied Materials, Inc. (“Applied”) appointed Rani Borkar to serve as a member of the Board and as a member of the Strategy and Investment Committee of the Board, effective December 14, 2020.
Upon Ms. Borkar’s appointment to the Board, she will receive the standard compensation applicable to non-employee directors: (1) an annual retainer of $80,000 (prorated based on her service during the fiscal year), (2) an additional annual retainer of $10,000 for her service on the Strategy and Investment Committee (prorated based on her service during the fiscal year) and (3) an automatic grant of a number of restricted stock units equal to $225,000, divided by the market value of Applied common stock on the date of her appointment, and prorated based on the period beginning on the date of Ms. Borkar’s appointment and ending on the date of the 2021 Annual Meeting of Shareholders. The restricted stock units are scheduled to vest in full on March 1, 2021, subject to Ms. Borkar’s continued service as a director through that date.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Applied Materials, Inc. (Registrant) | ||||||
| Dated: December 8, 2020 | By: | /s/ Teri A. Little | ||||
| Teri A. Little | ||||||
| Senior Vice President, Chief Legal Officer and Corporate Secretary | ||||||