KLAC — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-10-29

• •Tariffs, retaliatory trade measures and other trade restrictions, as well as uncertainty regarding tariff authority, implementation and refund process;

• •Our reliance on critical information, including our enterprise resource planning system for daily operations;

• •Risks associated with our interest rate hedging activities;

• •Ongoing changes in the technology industry, including artificial intelligence (“AI”) related developments and changes in semiconductor manufacturing processes, customer investment patterns and end-market demand;

• •Risks related to the development, adoption, governance and use of AI by us, our competitors and third parties;

Text removed vs the prior filing · source: 10-Q · 2026-04-30

• •Our inability to access critical information in a timely manner due to system failures;

• •Ongoing changes in the technology industry, and the semiconductor industry in particular, including future growth rates, pricing trends in end-markets, or changes in customer capital spending patterns;

• •Availability and cost of the materials and parts used in the production of our products;

• •Our government funding for R&D is subject to audit, and potential termination or penalties;

• •We may incur significant restructuring charges or other asset impairment charges or inventory write offs;

Text added vs the prior filing · source: 10-Q · 2026-10-29

• During the first quarter of fiscal 2027, we implemented an upgraded enterprise resource planning (“ERP”) system, resulting in modifications to certain business processes and related internal controls over financial reporting. Management performed implementation testing and continues to monitor the o…

Text removed vs the prior filing · source: 10-Q · 2026-04-30

• internal control over financial reporting are included within our Disclosure Controls, they are included in the scope of our annual controls evaluation.

• There were no changes in our internal control over financial reporting identified in connection with the evaluation required by Rule 13a-15(d) and 15d-15(d) of the Exchange Act that occurred during the most recent fiscal quarter covered by this Report that have materially affected, or are reasonably…

Text added vs the prior filing · source: 10-Q · 2026-10-29

• Our success is dependent in part on our technology and other proprietary rights. If we are unable to maintain our lead or protect our proprietary technology, we may lose valuable assets.

• Our success is dependent, in part, on our technology and other proprietary rights. We own various U.S. and international patents and have additional pending patent applications relating to some of our products and technologies. The process of seeking patent protection is lengthy and expensive, and w…

• We also maintain trademarks on certain of our products and services and claim copyright protection for certain proprietary software and documentation. However, we can give no assurance that our trademarks and copyrights will be upheld or successfully deter infringement by third parties.

• While patent, copyright and trademark protection for our IP is important, we believe our future success in highly dynamic markets is most dependent upon the technical competence and creative skills of our personnel. We attempt to protect our trade secrets and other proprietary information through co…

Text removed vs the prior filing · source: 10-Q · 2026-04-30

• Over the past several years, there have been a variety of rules and regulations issued by Commerce that have had an impact on our ability to sell certain products and provide certain services to certain customers in China. These rules and regulations may significantly harm our business, results of o…

• We maintain significant operations outside the United States, and existing and evolving trade restrictions imposed by the U.S. and other governments could significantly disrupt our global operations. The U.S. government has tightened export controls for commodities, software, and technology (collect…

• In October 2022, Commerce published the 2022 BIS Rules (the “2022 BIS Rules”) that introduced restrictions related to semiconductor, semiconductor manufacturing, supercomputer, and advanced computing items and end uses. These rules impose restrictions on our ability to sell, ship and support certain…

• In December 2024 and January 2025, Commerce again issued incremental 2024 BIS Rules and 2025 BIS Rules, adding even more companies to the U.S. Entity List and revising the definition of advanced DRAM, further restricting our ability to provide certain items and services to facilities in China produc…

• In September 2025, Commerce released an interim final rule that further expands export control restrictions and licensing requirements for foreign entities 50% or more directly or indirectly owned by one or more listed parties on the U.S. Entity List, Military End-User List, and certain entities on …

Text added vs the prior filing · source: 10-Q · 2026-10-29

• During the three months ended September 30, 2026, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

Text removed vs the prior filing · source: 10-Q · 2026-04-30

• Rule 10b5-1 Trading Plans Adopted by Officers and Directors During the Third Quarter

• During the three months ended March 31, 2026, the following officers of the Company adopted trading plans, or amendments to existing trading plans, to sell and/or gift shares of our common stock that have been or will be issued upon the vesting of RSUs, or purchased in our Employee Stock Purchase Pl…

• Senior Vice President and Chief Accounting OfficerFebruary 18, 2026

• Executive Vice President, Chief Legal Officer and Corporate SecretaryFebruary 2, 2026

• (1) Due to pricing conditions in the trading plans, the number of shares actually sold under the trading plans may be less than the maximum number of shares that can be sold. Shares sold under plans upon the vesting of performance-based RSUs where the performance conditions have not been met at the …