Lumentum exchanges $650.4M of 2028 notes for about 5.0M shares

Lumentum disclosed on June 1, 2026 that it entered exchange agreements on May 29 to swap about $650.4 million of its 0.50% convertible notes due 2028 for roughly 5.0 million common shares. The company receives no cash and cancels the exchanged notes. About $172.2 million of 2028 notes remain outstanding on unchanged terms, and the deal adds about 0.8 million shares of dilution related to principal. Closing was expected on or about June 4, 2026.

• About $650.4M principal of 0.50% convertible notes due 2028 exchanged.
• About 5.0M common shares delivered; no cash proceeds.
• About $172.2M of 2028 notes remain outstanding on unchanged terms.
• Incremental dilution about 0.8M shares related to principal; closing expected on or about June 4, 2026.