Item 5.02 Departure of Directors or Certain Officers; Election of Directors;
Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On September 28, 2021, Daniel J. Durn, Applied Materials, Inc.'s ("Applied" or
the "Company") Senior Vice President, Chief Financial Officer, notified the
Company he will be leaving Applied to become the CFO at Adobe Inc. Mr. Durn will
remain with the Company to support a smooth transition through October 15, 2021.
Effective immediately, Robert J. Halliday, age 67, will serve as Applied's
interim CFO while the Company conducts a search for Mr. Durn's successor.
Mr. Halliday was Applied's CFO from February 2013 to August 2017, and has been a
senior advisor to the Company in areas such as business development and
government affairs since September 2017.
In connection with his appointment as interim CFO, Mr. Halliday will receive an
annual base salary of $710,000 and will be eligible to participate in the
Company's Senior Executive Bonus Plan with a target bonus of 135% of his base
salary, prorated for his service as interim CFO. In addition, Mr. Halliday will
receive a cash bonus of $2,000,000 if he remains the Company's interim CFO
through the date on which a permanent CFO commences his or her service with the
Company (the "Completion Date") or if Mr. Halliday's employment is terminated by
the Company without cause or as a result of his death or disability prior to the
Completion Date.
Item 7.01 Regulation FD Disclosure.
On October 1, 2021, Applied issued a press release regarding the events
described in Item 5.02. A copy of the press release is furnished as Exhibit 99.1
hereto.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits.
Exhibit
No. Description
99.1 Press Release issued by Applied Materials, Inc. dated October 1, 2021
104 Cover Page Interactive Data File (formatted as inline XBRL)
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