Debra Reed - Feb 15, 2023 Form 4 Insider Report for LOCKHEED MARTIN CORP (LMT)

Role
Director
Signature
Debra L. Reed-Klages, by Kerri R. Morey, as Attorney-in-fact
Stock symbol
LMT
Transactions as of
Feb 15, 2023
Transactions value $
$0
Form type
4
Date filed
2/17/2023, 03:47 PM
Previous filing
Jun 10, 2022
Next filing
Jun 2, 2023

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 +354 +24.64% 1.79K Feb 15, 2023 Common Stock 354 Lockheed Martin Directors Equity Plan F1, F2, F3
* 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, each non-employee director received an award of phantom stock units, which award is exempt under Rule 16b-3. The phantom stock units were acquired at $480.51 per share and vest 50% on June 30 following the award date and 50% 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 vesting of the award.
F3 End of period holdings include additional acquisitions through dividend reinvestment.