Gary E. Dickerson

President and Chief Executive Officer at APPLIED MATERIALS INC /DE

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.

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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

Organization	Role	Date Range	Details
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

Organization	Role	Date Range	Details
U.S.-China Business Council	Board Member	N/A	Active position outside AMAT

Fixed Compensation

Data from FY 2024

Component Name	Amount	Payment Schedule	Additional Details
Base Salary	$1,030,000	Annual	Fixed base salary for fiscal year 2024
All Other Compensation	$153,336	Annual	Includes 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

Metric	Value	Condition/Details
Base Salary	$1,030,000	Used as a basis for bonus calculation
Target Bonus Percentage	150%	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 Hurdle	Non-GAAP EPS	Threshold: $5.55; Actual Achievement: $8.65
Corporate Scorecard Range	0.987 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

Metric	Value	Condition/Details
Grant Date	December 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 Mix	75% PSUs, 25% RSUs	Composition of the equity awards
PSUs Target Number	113,721	Vesting scheduled on December 19, 2026 based on performance, with actual vesting ranging from 0% to 200% of the target
RSUs Number	37,907	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.