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Richard Wallace

President and Chief Executive Officer (CEO) at KLA
Board
Since January 2006
Age
64 years
Education
Earned his bachelor's degree in electrical engineering from the University of Michigan and his master's degree in engineering management from Santa Clara University.
Tenure
Joined KLA in 1988 as an applications engineer, served in leadership roles including President and Chief Operating Officer in mid-2005, and was promoted to CEO in January 2006 with an additional role as President starting November 2008.

Also at KLA

BH
Bren Higgins
Executive Vice President and Chief Financial Officer
BL
Brian Lorig
Executive Vice President, Global Support and Services

About

Richard Wallace has built a distinguished career spanning decades in the semiconductor industry, beginning his journey at KLA in 1988 as an applications engineer. Over his extensive tenure, he progressed through roles with increasing responsibility, including serving as President and Chief Operating Officer before assuming the role of Chief Executive Officer in January 2006.

Throughout his career at KLA, he has demonstrated a deep understanding of the industry and played a pivotal role in shaping company strategy. His leadership saw him take on the additional responsibilities of President in November 2008, further solidifying his impact on the firm's growth and operational excellence.

Beyond his executive roles, Wallace has contributed significantly to industry groups and academic circles, sharing his expertise through teaching at Santa Clara University and serving on various high-profile boards. His continued involvement in both professional and educational arenas underscores a commitment to advancing the semiconductor field and nurturing the next generation of industry leaders.

$KLAC Performance Under Richard Wallace

Past Roles

Organization Role Date Range Details
KLA Corporation President and Chief Operating Officer (COO) Jul 2005 - Dec 2005 Former position before becoming CEO
KLA Corporation Executive Vice President of the Customer Group May 2004 - Jul 2005 Former executive role
KLA Corporation Executive Vice President of the Wafer Inspection Group Jul 2000 - May 2004 Former leadership role
KLA Instruments Applications Engineer 1988 Began his career at KLA Instruments
Cypress Semiconductor Employee N/A Pre-KLA role with no additional details provided
Ultratech Stepper Employee N/A Pre-KLA role with no additional details provided
Santa Clara University Instructor (Strategic Marketing & Global Competitiveness) N/A Taught courses after earning his master’s in engineering management

External Roles

Organization Role Date Range
Marvell Technology, Inc. Board of Directors Since 2024

Fixed Compensation

Data from  FY 2024
Component NameAmountPayment ScheduleAdditional Details
Base Salary$1,125,000 AnnualApproved for fiscal year 2024
Company Matching Contribution to 401(k) Plan$10,036 AnnualFixed contribution for fiscal year 2024
Company-Paid Financial Planning and Tax Preparation Costs$16,910 AnnualCovered costs for fiscal year 2024
Term Life Insurance Premium$1,488 AnnualTerm policy premium for fiscal year 2024

Performance Compensation

Data from  FY 2024

Non-Equity Incentive Plan Compensation

For fiscal year 2024, the Non-Equity Incentive Plan Compensation is based on performance metrics that include Operating Margin Dollars and Balanced Scorecard measures. The established payout levels are as follows:

  • Threshold: $520,312
  • Target: $1,734,375
  • Maximum: $3,468,750

For the 2023 Bonus Plan (which was based on actual performance during calendar year 2023), the bonus achievement multiplier was 100% with a payout multiple of 118% resulting in an actual bonus payout of $1,978,769.

*Note: The detailed metrics and payouts for the 2024 Bonus Plan will be determined at the conclusion of calendar year 2024 and are not yet available. *

Equity Incentive Plan Awards

Metric (Unit/Scale)ValueAdditional Details
Performance MetricRelative Free Cash Flow MarginEvaluated over a three-year period ending June 30, 2026
Threshold Performance30th percentile
Target Performance55th percentile
Maximum Performance75th percentile
Payout (Threshold)25% of target shares
Payout (Target)100% of target shares
Payout (Maximum)150% of target shares
Grant DateAugust 3, 2023
Grant Date Fair Value$11,817,313For target performance
Grant Date Stock PriceBased on closing fair market value
Shares (Threshold)5,881 shares
Shares (Target)23,525 shares
Shares (Maximum)35,288 shares
Vesting ScheduleDetermined based on performance over the period ending June 30, 2026 and subject to service-based criteria