APPLIED MATERIALS INC /DE false 0000006951 0000006951 2021-03-11 2021-03-11





Washington, D.C. 20549







Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 11, 2021



Applied Materials, Inc.

(Exact name of registrant as specified in its charter)




Delaware   000-06920   94-1655526
(State or other jurisdiction
of incorporation)
File Number)
  (IRS Employer
Identification No.)

3050 Bowers Avenue

P.O. Box 58039

Santa Clara, CA 95052-8039

(Address of principal executive offices)

Registrant’s telephone number, including area code: (408) 727-5555


(Former name or former address, if changed since last report.)



Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:


Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)


Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)


Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))


Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:


Title of Each Class




Name of Each Exchange
on Which Registered

Common Stock, par value $.01 per share   AMAT   The NASDAQ Stock Market LLC

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company  

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐




Item 5.02

Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

Amended and Restated Employee Stock Incentive Plan

On March 11, 2021, at the Annual Meeting of Shareholders (the “Annual Meeting”) of Applied Materials, Inc. (“Applied” or the “Company”), the Company’s shareholders approved Applied’s amended and restated Employee Stock Incentive Plan (the “ESIP”). The ESIP became effective upon shareholder approval and was amended to, among other changes, (i) add 10 million shares to the number of shares of Applied common stock authorized for issuance, (ii) remove the fungible share provision, (iii) increase the maximum term for stock options from seven to ten years, (iv) modify the exception to minimum vesting periods for stock option and stock appreciation right awards granted to employees and consultants, and (v) remove the provisions previously included to comply with the historical performance-based compensation exemption under Section 162(m) of the Internal Revenue Code.

Omnibus Employees’ Stock Purchase Plan

At the Annual Meeting, the Company’s shareholders also approved an amendment and restatement of the Applied Employees’ Stock Purchase Plan (the “U.S. ESPP” and, as amended, the “Omnibus ESPP”). Prior to such amendment, the Company maintained the U.S. ESPP and the Applied Stock Purchase Plan for Offshore Employees (the “Offshore ESPP”). With the shareholders’ approval, the Omnibus ESPP will become effective on September 1, 2021 (the “Effective Date”) in accordance with its terms, and amends and restates the U.S. ESPP to, among other changes, (i) incorporate the Offshore ESPP as a sub-plan, and (ii) add 11.3 million shares to the number of shares of Applied common stock authorized for issuance. The Offshore ESPP will terminate as an independent plan on the Effective Date.

The amended and restated ESIP and Omnibus ESPP are each described in more detail in the Company’s definitive proxy statement for the Annual Meeting filed with the Securities and Exchange Commission on January 28, 2021 (the “Proxy Statement”). The foregoing description and the summaries contained in the Proxy Statement do not purport to be complete and are qualified in their entirety by reference to the full texts of the amended and restated ESIP and the Omnibus ESPP, respectively, which are incorporated by reference as Exhibits 10.1 and 10.2.


Item 5.07

Submission of Matters to a Vote of Security Holders.

At the Annual Meeting, the Company’s shareholders cast their votes on seven proposals, as set forth below.

Proposal 1. Election of Directors.


Name of Nominee

   For    Against    Abstain    Broker Non-

Rani Borkar

   703,803,590    725,057    961,375    87,437,701

Judy Bruner

   688,199,904    16,375,485    914,633    87,437,701

Xun (Eric) Chen

   699,555,037    4,947,175    987,810    87,437,701

Aart J. de Geus

   694,671,330    9,829,414    989,278    87,437,701

Gary E. Dickerson

   700,598,988    4,142,059    748,975    87,437,701

Thomas J. Iannotti

   663,561,862    40,707,567    1,220,593    87,437,701

Alexander A. Karsner

   678,190,709    26,295,025    1,004,288    87,437,701

Adrianna C. Ma

   703,718,685    827,965    943,372    87,437,701

Yvonne McGill

   703,355,358    1,191,719    942,945    87,437,701

Scott A. McGregor

   703,845,357    691,474    953,191    87,437,701

Each of the ten nominees was elected to serve as a director for a one-year term and until he or she is succeeded by another qualified director who has been elected, or, if earlier, until his or her death, resignation or removal.

Proposal 2. Approval, on an Advisory Basis, of the Compensation of the Company’s Named Executive Officers for Fiscal Year 2020.








Broker Non-Votes

613,925,140   89,562,559   2,002,323   87,437,701

The compensation of the Company’s named executive officers, as disclosed in the Company’s Proxy Statement for the Annual Meeting, was approved on an advisory basis.

Proposal 3. Ratification of the Appointment of KPMG LLP as the Company’s Independent Registered Public Accounting Firm for Fiscal Year 2021.







785,024,604   6,711,312   1,191,807

The appointment of KPMG LLP as the Company’s independent registered public accounting firm for fiscal year 2021 was ratified.

Proposal 4. Approval of the Amended and Restated Employee Stock Incentive Plan.








Broker Non-Votes

679,920,012   24,434,777   1,135,233   87,437,701

The amended and restated Employee Stock Incentive Plan was approved.

Proposal 5. Approval of the Omnibus Employees’ Stock Purchase Plan.








Broker Non-Votes

701,286,085   3,102,990   1,100,947   87,437,701

The Omnibus Employees’ Stock Purchase Plan was approved.

Proposal 6. Shareholder Proposal Regarding Independent Chair Policy.








Broker Non-Votes

227,181,425   476,449,231   1,859,366   87,437,701

The shareholder proposal to adopt a policy, and amend the Company’s governing documents as necessary, to require the Chairman of the Board to be independent whenever possible, including the next Chairman of the Board transition, was not approved.

Proposal 7. Shareholder Proposal Regarding Executive Compensation Program and Policy.








Broker Non-Votes

58,265,603   642,770,813   4,453,606   87,437,701

The shareholder proposal regarding executive compensation program and policy to include CEO pay ratio and other factors was not approved.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits.





10.1    Applied Materials, Inc. Employee Stock Incentive Plan, as amended and restated, effective March 11, 2021
10.2    Applied Materials, Inc. Omnibus Employees’ Stock Purchase Plan, effective September 1, 2021
104    Cover Page Interactive Data File (embedded within the Inline XBRL document).


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.


Dated: March 15, 2021      

/s/ Teri A. Little

      Teri A. Little
      Senior Vice President, Chief Legal Officer and Corporate Secretary