Micron Technology management check
MU · Information Technology · Semiconductors · CEO Sanjay Mehrotra
Filings as of
5 good · 2 to watch · 0 flagged, across the seven questions below.
- Good
Have owners done well?
Beat its chosen peers$100 invested at the start of fiscal 2021 grew to $270, against $262 for the peer group the company picked itself.
- Good
Does pay follow performance?
Pay rose and fell with returnsOver 5 years, the CEO's pay actually paid (equity valued at the share price) had a correlation of 0.86 with shareholder return. 1 means pay moved in step; below 0, the opposite way.
- Good
What does the CEO cost owners?
0.4% of net income$30.9m of reported pay in fiscal 2025, against $8.5bn of net income.
- Watch
Do they own the stock?
CEO stake ≈ 12 years of payThe CEO holds 389,584 shares, directly or through trusts (unvested awards not counted): about 12 years of pay. 9 insiders sold $279.3m in the last six months and none bought. 255 of 261 sales ran on pre-arranged 10b5-1 plans.
- Watch
Are owners being diluted?
Share count growingDiluted shares changed +1.5% a year over the last three fiscal years. Stock-based pay was 2.6% of revenue in the latest year.
- Good
Is leadership stable?
7 leadership filings in 3 yearsCEO in the pay table: Sanjay Mehrotra. 7 filings under 8-K item 5.02 (officers or directors leaving or joining, or new pay arrangements) in the last 3 years.
- Good
Are the books clean?
No red flags on fileNo restatements, auditor changes or late filings since 2021.
Against the S&P 500
Each check's score (0–100) and how it compares: the share of ranked S&P 500 companies it matches or beats, and the median in Information Technology.
| Check | Score | At or above | Sector median |
|---|---|---|---|
| Owner returns | 54 | 33 | |
| Pay for performance | 93 | 87 | |
| CEO cost | 87 | 35 | |
| Skin in the game | 70 | 47 | |
| Dilution | 32 | 56 | |
| Stable leadership | 90 | 85 | |
| Clean books | 100 | 100 |
Closest peers
Others in Semiconductors, by management score. Micron Technology is 16th of 73 in its sector.
- 20NVDANvidia86
- 101ONON Semiconductor76
- 112AVGOBroadcom75
- 117MUMicron Technology75
- 132FSLRFirst Solar73
- 235MRVLMarvell Technology66
- 236QCOMQualcomm65
- 314ADIAnalog Devices60
- 319MPWRMonolithic Power Systems60
- 373TXNTexas Instruments56
Pay versus performance
From the proxy statement filed November 25, 2025. "Actually paid" values stock awards at the share price, so it rises and falls with the stock.
| Fiscal year | CEO | CEO pay | Actually paid | Other executives (avg) | $100 became | Peers | Net income |
|---|---|---|---|---|---|---|---|
| 2025 | Sanjay Mehrotra | $30.9m | $86.6m | $11.2m | $270 | $262 | $8.5bn |
| 2024 | Sanjay Mehrotra | $30.1m | $72.8m | $10.8m | $210 | $225 | $778.0m |
| 2023 | Sanjay Mehrotra | $25.3m | $42.5m | $8.4m | $153 | $164 | −$5.8bn |
| 2022 | Sanjay Mehrotra | $28.8m | $13.5m | $10.4m | $124 | $118 | $8.7bn |
| 2021 | Sanjay Mehrotra | $25.3m | $68.0m | $7.7m | $160 | $153 | $5.9bn |
The board says pay is tied most to non-GAAP net income (loss). Its other key measures: Non-GAAP net income (loss), Non-GAAP operating margin, Relative TSR growth of the Company’s stock price versus the SOX index, Data center SSD market share or bit shipments, HBM3E+ market share or bit shipments.
Insiders and the CEO's stake
Sanjay Mehrotra (President and CEO) held 389,584 shares directly after their latest Form 4 on Oct 13, 2026, roughly $385.3m at that filing's price.
9 insiders sold $279.3m in the last six months and none bought. 255 of 261 sales ran on pre-arranged 10b5-1 plans.
- SoldSanjay MehrotraPresident and CEO · 10b5-1 plan$182.3mAug 21, 2026
- SoldApril S ArnzenEVP and Chief People Officer · 10b5-1 plan$43.4mJul 1, 2026
- SoldScott J DeboerPres. & Chief Tech & Prod Offr · 10b5-1 plan$25.7mOct 16, 2026
- SoldSumit SadanaEVP and Chief Business Officer$14.0mAug 18, 2026
Leadership and governance on file
- Aug 26, 2026Leadership change8-K 5.02
- Jun 9, 2026Leadership change8-K 5.02
- Oct 21, 2025Leadership change8-K 5.02
- Mar 5, 2025Leadership change8-K 5.02
- Jan 21, 2025Leadership change8-K 5.02
- Oct 30, 2024Leadership change8-K 5.02
- Mar 11, 2024Leadership change8-K 5.02
- Feb 9, 2023Leadership change8-K 5.02
- Apr 8, 2022Leadership change8-K 5.02
- Jan 10, 2022Leadership change8-K 5.02
Latest shareholder vote results: Jan 21, 2026, including the say-on-pay vote.
Where the money went
Over 2021–2025: $6.4bn returned to owners in buybacks and dividends, 35% of net income, and $3.3bn of pay in stock.
| Fiscal year | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Revenue | $27.7bn | $30.8bn | $15.5bn | $25.1bn | $37.4bn |
| Net income | $5.9bn | $8.7bn | −$5.8bn | $778.0m | $8.5bn |
| Stock-based pay | $378.0m | $514.0m | $596.0m | $833.0m | $972.0m |
| Buybacks | $1.2bn | $2.4bn | $425.0m | $300.0m | $0 |
| Dividends | $0 | $461.0m | $504.0m | $513.0m | $522.0m |
| Diluted shares | 1141m | 1122m | 1093m | 1118m | 1125m |
Educational only, not investment advice. Figures are as filed with the SEC: pay from the proxy's pay-versus-performance table, capital allocation from 10-K XBRL data, insider trades from Form 4s over the last six months, events from the last 5 years of filings. The peer group is the one the company chose. See the method.