Jim Anderson
APPLIED MATERIALS INC /DEAbout Jim Anderson
Jim Anderson is a non-employee director of Applied Materials, elected by the Board on July 18, 2025, and appointed to the Strategy and Investment Committee; he brings over 25 years of technology and semiconductor ecosystem experience, including CEO roles at Coherent Corp. and Lattice Semiconductor . He holds an MBA and MS in electrical engineering and computer science from MIT, an MS in electrical engineering from Purdue, and a BS in electrical engineering from the University of Minnesota . The company disclosed there are no arrangements pursuant to which he was elected and no direct or indirect material interest in related-party transactions required under Item 404(a); he will receive standard compensation for non-employee directors .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Coherent Corp. | Chief Executive Officer and Director | Since June 2024 | Leads a global photonics company for datacenter, communications and industrial markets |
| Lattice Semiconductor | President & Chief Executive Officer; Director | Since 2018 (prior role) | Led turnaround and growth; served on board |
| Advanced Micro Devices (AMD) | SVP & GM, Computing and Graphics | Not disclosed | General management leadership in computing and graphics |
| Intel, Broadcom (Avago), LSI Corporation | Various leadership roles (engineering, sales, marketing, corporate strategy) | Not disclosed | Broad operating leadership across major semiconductor companies |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| MIT Sloan School of Management | Americas Executive Board | Not disclosed | Governance/advisory role in management education |
| US-Japan Business Council | Board/Council Member | Not disclosed | Bilateral business forum participation |
Board Governance
- Appointment and committee assignments: Elected July 18, 2025; appointed to the Board’s Strategy and Investment Committee .
- Independence, conflicts, and indemnification: Non-employee director; no Item 404(a) related-party transactions disclosed; standard directors’ indemnification agreement executed .
- Board independence and committee composition: AMAT highlights a highly independent board and committees; Audit, HRCC, and Governance committees consist solely of independent directors; committee chairs are independent .
- Stock ownership guidelines: Non-employee directors must own AMAT stock equal to at least 5x the annual base retainer; all directors and executive officers were in compliance as of December 31, 2024 (Anderson joined in 2025; compliance for him will be tracked going forward) .
- Related-person transaction oversight: Audit Committee reviews and approves related-person transactions .
Fixed Compensation
| Component | Amount | Notes |
|---|---|---|
| Annual Base Retainer (Cash) | $100,000 | Standard non-employee director retainer as of Q2 FY2024 ; payable to Anderson, prorated for service |
| Strategy & Investment Committee Member Retainer (Cash) | $10,000 | Additional annual retainer; prorated for service |
| Equity Grant (RSUs) | $240,000 fair value | Prorated initial grant upon appointment; number of RSUs = $240,000 ÷ market value on grant date; scheduled to vest March 1, 2026, subject to continued service |
| Meeting Fees (Ad hoc committees) | $2,000 per meeting (if applicable) | At discretion of Board Chair for ad hoc committee service |
| Matching Contributions | Up to $3,000 annual charitable match; up to $2,500 PAC-related match | Same as employees; Foundation and PAC matching programs |
Additional director program features:
- Vesting acceleration upon death/disability; change-of-control acceleration if no longer a non-employee director of successor .
- Limit on director equity awards: ≤ $400,000 FMV per fiscal year .
Performance Compensation
- Directors do not receive performance-based equity; non-employee director grants are time-based RSUs vesting by the next annual meeting or March 1 following grant, subject to service. No PSU metrics apply to directors .
Other Directorships & Interlocks
| Company | Role | Potential Interlock Considerations |
|---|---|---|
| Coherent Corp. | CEO and Director | Coherent operates in photonics for datacenter/communications/industrial markets; potential ecosystem adjacency to AMAT customers/suppliers; AMAT disclosed no related-party transactions involving Anderson upon his election; Audit Committee oversees related-person transaction reviews |
| Lattice Semiconductor | Former CEO and Director | FPGA and low-power semiconductors; prior role could create ecosystem familiarity; no current related-party transactions disclosed by AMAT at election |
- Governance controls: AMAT’s Audit Committee pre-approves related-person transactions; Governance Committee reviews conflicts of interest for the Board .
Expertise & Qualifications
- Deep semiconductor and technology leadership across Coherent, Lattice, AMD, Intel, Broadcom (Avago), LSI; breadth in engineering, sales, marketing, and strategy .
- Educational credentials: MBA and MS (EECS) from MIT; MS (EE) from Purdue; BS (EE) from University of Minnesota .
- Strategic expertise: Innovation-driven businesses; datacenter/communications/industrial photonics; computing/graphics leadership .
Equity Ownership
| Item | Detail |
|---|---|
| Initial Equity Grant | RSUs with fair value $240,000 at appointment; prorated; vests March 1, 2026, subject to continued service |
| Ownership Guidelines | Non-employee directors must hold AMAT shares ≥ 5x annual base retainer; compliance tested annually; all directors were in compliance as of Dec 31, 2024 (Anderson joined in 2025; compliance status will be tracked) |
| Hedging/Pledging | Prohibited for directors; insider trading policy bans hedging and pledging |
Governance Assessment
-
Strengths for investor confidence
- Non-employee director with disclosed absence of Item 404(a) related-party transactions at election; standard indemnification; standard director pay structure .
- Robust governance framework: Majority independent board; independent committee chairs; clawback policy; shareholder rights (special meeting at 10%, proxy access, written consent) .
- Clear director compensation program with moderate cash retainer and standardized RSU grants; recent benchmarking and transparent changes (base retainer increased from $85,000 to $100,000 in 2024) .
-
Areas to monitor (potential conflicts and process effectiveness)
- External CEO role at Coherent Corp. may introduce ecosystem adjacency (supplier/customer dynamics) in photonics; ensure consistent recusal from any board deliberations with potential conflicts and continued Audit Committee oversight of related-person transactions .
- Strategy & Investment Committee membership: monitor for any transaction reviews or strategic initiatives involving companies linked to Anderson’s current or prior affiliations; AMAT disclosure at election states no arrangements or material interests, but ongoing monitoring remains prudent .
-
Policies mitigating risk
- No hedging/pledging permitted; Stock ownership guidelines align director incentives with shareholders .
- Audit Committee oversight of ERM and related-person transactions provides structured conflict screening .
Notes on Unavailable Disclosures
- Attendance and engagement: Anderson joined in July 2025; FY2024 attendance data pertains to prior directors; his attendance will be disclosed in the next proxy .
- Beneficial ownership: Not included in the Dec 31, 2024 beneficial ownership table; future proxy filings are expected to reflect Anderson’s holdings .