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EQUITY-BASED COMPENSATION PLANS
 6 Months Ended
Dec. 26, 2021
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 EndedSix Months Ended
December 26,
2021		December 27,
2020		December 26,
2021		December 27,
2020
(in thousands)
Equity-based compensation expense$62,834 $52,109 $120,933 $108,097 
Income tax benefit recognized related to equity-based compensation expense$9,014 $9,911 $17,222 $19,788