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    Gary E. Dickerson

    President and Chief Executive Officer at Applied Materials Inc
    Since September 2013
    Age
    67 years
    Tenure
    Joined Applied Materials in 2011, was named President in June 2012, and became CEO and a Board member in September 2013.

    Also at Applied Materials Inc

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    Omkaram Nalamasu
    Senior Vice President, Chief Technology Officer
    PR
    Prabu Raja
    President, Semiconductor Products Group

    About

    At 67 years old, he began his career in the semiconductor industry with engineering and management roles at General Motors’ Delco Electronics Division and AT&T Technologies. His early professional journey laid the foundation for decades of leadership in a rapidly evolving industry.

    He built a significant portion of his career with 18 years at KLA-Tencor Corporation, eventually moving on to serve as the CEO and a director at Varian Semiconductor Equipment Associates from 2004 until its acquisition in 2011. These roles not only honed his expertise in semiconductor technologies but also established his prowess in driving business strategy and operations across global markets.

    Following the acquisition of Varian, he joined Applied Materials in 2011. At the company, he was promoted to President in June 2012 and later advanced to the role of CEO and Board member in September 2013. Under his leadership, Applied Materials has emerged as a global leader in semiconductor and display equipment, known for its focus on innovation, emerging technologies, and sustainability initiatives.

    $AMAT Performance Under Gary E. Dickerson

    Past Roles

    OrganizationRoleDate RangeDetails
    Varian Semiconductor Equipment Associates, Inc. Chief Executive Officer & Director 2004 – November 2011 Acquired by Applied Materials, Inc.
    KLA-Tencor Corporation President & Chief Operating Officer (and other roles) Approximately 18 years prior to 2004 Held various senior roles in process control and yield management
    General Motors’ Delco Electronics Division Manufacturing and Engineering Management N/A Focused on automotive electronics
    AT&T Technologies, Inc. Manufacturing and Engineering Management N/A Involved in technology and manufacturing

    External Roles

    OrganizationRoleDate RangeDetails
    U.S.-China Business Council Board Member N/A Active position outside AMAT

    Fixed Compensation

    Data from  FY 2024
    Component NameAmountPayment ScheduleAdditional Details
    Base Salary$1,030,000 AnnualFixed base salary for fiscal year 2024
    All Other Compensation$153,336 AnnualIncludes matching 401(k) contribution of $15,525, term life insurance premium payment of $1,513, PAC matching of $2,500, wellbeing reimbursement of $500, equipment monitoring and maintenance fees of $124,966, and personal security services of $8,332

    Performance Compensation

    Data from  FY 2024

    Annual Incentive Bonus

    MetricValueCondition/Details
    Base Salary$1,030,000 Used as a basis for bonus calculation
    Target Bonus Percentage150% Applied to Base Salary
    Target Bonus Amount$1,545,000 150% of Base Salary
    Actual Bonus Payout$1,754,734 113% of Target Bonus, reflecting strong performance
    Initial Performance HurdleNon-GAAP EPSThreshold: $5.55; Actual Achievement: $8.65
    Corporate Scorecard Range0.987 to 1.07 Based on Financial, Market, Products, Services, and Organization metrics
    Individual Performance Factor (IPF)1.1 Modifier based on leadership contributions and overall performance

    Long-Term Incentive Awards

    MetricValueCondition/Details
    Grant DateDecember 7, 2023 Date when equity awards were granted
    Grant Date Fair Value$24,861,142 Total fair value of the long-term incentive awards
    Grant Date Stock Price$148.39 Closing Applied Materials stock price on the grant date
    Target Award Value$22,500,000 Total target value for the long-term awards
    Vehicle Mix75% PSUs, 25% RSUs Composition of the equity awards
    PSUs Target Number113,721 Vesting scheduled on December 19, 2026 based on performance, with actual vesting ranging from 0% to 200% of the target
    RSUs Number37,907 Vesting in three equal installments: one-third on December 19, 2024, one-third on December 19, 2025, and one-third on December 19, 2026

    This performance compensation structure for fiscal 2024 ties the bonus components directly to operational performance metrics (e.g., Non-GAAP EPS and corporate scorecard), incorporates an individual performance modifier (IPF of 1.1), and includes long-term equity awards with specific vesting schedules and performance-based conditions.