Sanjay Mehrotra - Oct 13, 2021 Form 4 Insider Report for MICRON TECHNOLOGY INC (MU)

Role
CEO and President, Director
Signature
Rob Beard, Attorney-in-fact
Stock symbol
MU
Transactions as of
Oct 13, 2021
Transactions value $
-$4,370,494
Form type
4
Date filed
10/18/2021, 06:00 AM
Previous filing
Sep 14, 2021
Next filing
Oct 19, 2021

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction MU Common Stock Options Exercise $0 +135K +22.8% $0.00 728K Oct 13, 2021 Direct F1
transaction MU Common Stock Award $0 +176K +24.2% $0.00 904K Oct 13, 2021 Direct F2
transaction MU Common Stock Options Exercise $0 +3.58K +0.4% $0.00 907K Oct 13, 2021 Direct F1
transaction MU Common Stock Tax liability -$113K -1.69K -0.19% $66.72 906K Oct 13, 2021 Direct F3
transaction MU Common Stock Tax liability -$4.26M -63.8K -7.05% $66.72 842K Oct 13, 2021 Direct F3
holding MU Common Stock 90.4K Oct 13, 2021 GRAT F4

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
transaction MU Performance Restricted Stock Units Award $0 +73.9K $0.00 73.9K Oct 13, 2021 Common Stock 73.9K $0.00 Direct F5
transaction MU Performance Restricted Stock Units Award $0 +44K $0.00 44K Oct 13, 2021 Common Stock 44K $0.00 Direct F6
transaction MU Performance Restricted Stock Units Award $0 +44K $0.00 44K Oct 13, 2021 Common Stock 44K $0.00 Direct F7
transaction MU Performance Restricted Stock Units Options Exercise $0 -38.6K -50% $0.00 38.6K Oct 13, 2021 Common Stock 135K $0.00 Direct F1, F8
transaction MU Performance Restricted Stock Units Options Exercise $0 -30.8K -50% $0.00 30.8K Oct 13, 2021 Common Stock 3.58K $0.00 Direct F1, F9
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 The Compensation Committee certified achievement of the pre-established performance goals at a level resulting in a vest of 100% of the total target shares under the performance-based restricted stock units previously awarded on October 16, 2019. As reported at grant, the performance-based restricted stock unit could result in a payout that varies based on actual achievement of the goals, subject to a 200% aggregate limit on the payout of target shares.
F2 Restricted Stock Awards vest in 33 1/3% increments annually on the anniversary of the grant.
F3 Withholding of shares of common stock to satisfy tax withholding obligations in connection with the vesting of performance restricted stock units awarded under the Issuer's 2004 Equity Incentive Plan.
F4 Grantor retained annuity trust for the benefit of the reporting person and his family.
F5 Each performance-based restricted stock unit represents the right to receive, following vesting, a percentage of one share of common stock which percentage varies based upon the achievement of pre-established performance metrics related to relative total shareholder return over a 3-year period beginning September 3, 2021 and ending on August 29, 2024 (subject to a 200% aggregate limit on the total target shares that may be received under the performance-based restricted stock units awarded on October 13, 2021), and certification of such performance by the Compensation Committee.
F6 Each performance-based restricted stock unit represents the right to receive, following vesting, a percentage of one share of common stock which percentage varies based upon the achievement of pre-established performance metrics related to Data Center NAND delivery and solutions over a 3-year period beginning September 3, 2021 and ending on August 29, 2024 (subject to a 200% aggregate limit on the total target shares that may be received under the performance-based restricted stock units awarded on October 13, 2021), and certification of such performance by the Compensation Committee.
F7 Each performance-based restricted stock unit represents the right to receive, following vesting, a percentage of one share of common stock which percentage varies based upon the achievement of pre-established performance metrics related to High Value NAND delivery and solutions over a 3-year period beginning September 3, 2021 and ending on August 29, 2024 (subject to a 200% aggregate limit on the total target shares that may be received under the performance-based restricted stock units awarded on October 13, 2021), and certification of such performance by the Compensation Committee.
F8 Each performance-based restricted stock unit represents the right to receive, following vesting, a percentage of one share of common stock based upon the achievement of pre-established performance metrics related to NAND over a 3-year performance period beginning August 30, 2019 and ending on September 1, 2022 (subject to a 200% aggregate limit on the total target shares that may be received under the performance-based restricted stock units awarded on October 16, 2019), and certification of such performance by the Compensation Committee.
F9 Each performance-based restricted stock unit represents the right to receive, following vesting, a percentage of one share of common stock based upon the achievement of pre-established performance metrics related to relative total shareholder return over a 3-year performance period beginning August 30, 2019 and ending on September 1, 2022 (subject to a 200% aggregate limit on the total target shares that may be received under the performance-based restricted stock units awarded on October 16, 2019), and certification of such performance by the Compensation Committee.