Patricia E. Yarrington - Jul 1, 2021 Form 4 Insider Report for LOCKHEED MARTIN CORP (LMT)

Role: Director
Signature: Patricia E. Yarrington, by Kerri R. Morey, Attorney-in-fact
Stock symbol: LMT
Transactions as of: Jul 1, 2021
Transactions value $: $0
Form type: 4
Date filed: 7/6/2021, 04:42 PM
Previous filing: Jun 9, 2021
Next filing: Feb 2, 2022

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	LMT	Phantom Stock Units	Award		+249			249	Jul 1, 2021	Common Stock	249		Lockheed Martin Directors Equity Plan	F1, F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Each share of phantom stock is the economic equivalent of one share of Lockheed Martin Corporation common stock.
F2	In accordance with the Lockheed Martin Corporation Amended and Restated Directors Equity Plan, the Reporting Person received a prorated award of phantom stock units, which award is exempt under Rule 16b-3. The phantom stock units were acquired at $380.22 per share and vest on December 31 following the award date or, if earlier, upon retirement, death, disability or change in control. Settlement in cash or stock (as elected by the director) will occur upon the Reporting Person's retirement or termination of service, except that non-employee directors who have satisfied our stock ownership guidelines may elect to have the payment of awards (together with any dividend equivalents thereon) made on the first business day of April following the one-year anniversary of the grant.

Content

Each share of phantom stock is the economic equivalent of one share of Lockheed Martin Corporation common stock.

In accordance with the Lockheed Martin Corporation Amended and Restated Directors Equity Plan, the Reporting Person received a prorated award of phantom stock units, which award is exempt under Rule 16b-3. The phantom stock units were acquired at $380.22 per share and vest on December 31 following the award date or, if earlier, upon retirement, death, disability or change in control. Settlement in cash or stock (as elected by the director) will occur upon the Reporting Person's retirement or termination of service, except that non-employee directors who have satisfied our stock ownership guidelines may elect to have the payment of awards (together with any dividend equivalents thereon) made on the first business day of April following the one-year anniversary of the grant.