Applied Materials, Inc. (AMAT, Financial) has announced the election of James R. Anderson to its Board of Directors and the Board’s Strategy and Investment Committee, effective July 18, 2025. This strategic appointment is expected to bolster the company's leadership and provide valuable insights into its investment strategies.
Mr. Anderson will receive the standard compensation for non-employee directors, which includes an annual retainer of $100,000, prorated based on his service during the fiscal year. Additionally, he will receive an extra annual retainer of $10,000 for his role on the Strategy and Investment Committee, also prorated. Furthermore, Mr. Anderson will be granted restricted stock units valued at $240,000, divided by the market value of Applied Materials' common stock on the date of his appointment. These units are scheduled to vest in full on March 1, 2026, contingent upon his continued service as a director.
In alignment with company policy, Mr. Anderson will enter into Applied Materials' standard form of directors’ indemnification agreement. This agreement ensures that the company will indemnify its directors to the fullest extent permitted by law, subject to certain conditions, and advance expenses related to proceedings as outlined in the agreement.
There are no arrangements or understandings between Mr. Anderson and any other parties that influenced his election as a director. Additionally, Mr. Anderson holds no direct or indirect material interest in any transactions that require disclosure under Item 404(a) of Regulation S-K.
This appointment underscores Applied Materials' commitment to strengthening its governance and strategic oversight, positioning the company for continued growth and innovation in the semiconductor industry.
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