UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934

 

April 17 , 2024

Date of Report (date of earliest event reported)

 

 

MICRON TECHNOLOGY, INC.

(Exact name of registrant as specified in its charter)

 

Delaware		1-10658		75-1618004
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

8000 South Federal Way

Boise, Idaho 83716-9632

(Address of principal executive offices and Zip Code)

 

(208) 368-4000

(Registrant’s telephone number, including area code)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading symbol		Name of each exchange on which registered
Common Stock, par value $0.10 per share		MU		Nasdaq Global Select Market

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ¨

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

 

 

Item 7.01

Regulation FD Disclosure

 

On April 17, 2024, a subsidiary of Micron Technology, Inc. (“Micron”), Micron Virginia Semiconductor Manufacturing LLC, submitted a full application to the U.S. Department of Commerce’s CHIPS Program Office (“CPO”) in response to the CPO’s Notice of Funding Opportunity for semiconductor manufacturing under the U.S. CHIPS and Science Act of 2022. This application requests federal funding in the form of grants for modernization of production of long-lifecycle DRAM products at Micron’s existing semiconductor manufacturing facility in Manassas, Virginia to address future demand primarily for defense, aerospace, automotive, and industrial customers. The grants, combined with federal investment tax credits and Virginia state incentives, are necessary to enable proceeding with the project. This application for Micron’s Virginia project is in addition to previously announced applications for federal funding to build leading-edge manufacturing facilities in Boise, Idaho, and Clay, New York. The U.S. projects for which federal funding is sought are part of Micron’s strategy to increase Micron’s overall supply in line with industry demand growth.

 

Forward-Looking Statements

 

This Current Report on Form 8-K contains forward-looking statements regarding Micron’s plans for the development of manufacturing facilities. These forward-looking statements are subject to a number of risks and uncertainties that could cause actual results to differ materially. Please refer to the documents we file with the Securities and Exchange Commission, including our most recent Form 10-K and Form 10-Q. These documents contain and identify important factors that could cause our actual results to differ materially from those contained in these forward-looking statements. These certain factors can be found at investors.micron.com/risk-factor. Although we believe that the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee future results, levels of activity, performance, or achievements. We are under no duty to update any of the forward-looking statements to conform these statements to actual results.

 

The information in Item 7.01 of this Current Report on Form 8-K shall not be deemed "filed" for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that section. The information in Item 7.01 of this Current Report on Form 8-K shall not be incorporated by reference into any filing or other document pursuant to the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing or document.

 

 

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

		MICRON TECHNOLOGY, INC.
Date:	April 18, 2024	By:	/s/ Michael Ray
		Name:	Michael Ray
		Title:	Senior Vice President, Chief Legal Officer and Corporate Secretary