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EQUITY-BASED COMPENSATION PLANS | 3 Months Ended
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Sep. 27, 2020
Share-based Payment Arrangement [Abstract] |
EQUITY-BASED COMPENSATION PLANS | EQUITY-BASED COMPENSATION PLANS The Lam Research Corporation 2015 Stock Incentive Plan, as amended (the “2015 Plan”), provides for the grant of non-qualified equity-based awards of the Company’s Common Stock to eligible employees and non-employee directors, including stock options, restricted stock units (“RSUs”), and market-based performance RSUs (“market-based PRSUs”). An option is a right to purchase Common Stock at a set price. An RSU award is an agreement to issue a set number of shares of Common Stock at the time of vesting. The Company’s market-based PRSUs contain both a market condition and a service condition. The Company’s option, RSU, and market-based PRSU awards typically vest over a period of three years. The Company also has an employee stock purchase plan that allows employees to purchase its Common Stock at a discount through payroll deductions. The Company recognized the following equity-based compensation expense (including expense related to the employee stock purchase plan) and related income tax benefit in the Condensed Consolidated Statements of Operations:
|  |  |  |  | Three Months Ended |  |
|  |  |  |  | September 27, 2020 |  | September 29, 2019
|  |  |  |  | (in thousands) |  |
Equity-based compensation expense |  |  |  |  | $ | 55,988 |  |  | $ | 42,905 |
Income tax benefit recognized related to equity-based compensation expense |  |  |  |  | $ | 9,877 |  |  | $ | 9,818 |

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