John Donovan - Feb 15, 2024 Form 4 Insider Report for LOCKHEED MARTIN CORP (LMT)

Role
Director
Signature
John M. Donovan, by John E. Stevens, Attorney-in-fact
Stock symbol
LMT
Transactions as of
Feb 15, 2024
Transactions value $
$0
Form type
4
Date filed
2/20/2024, 07:03 PM
Previous filing
Feb 9, 2024

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 +402 +45.11% 1.29K Feb 15, 2024 Common Stock 402 Lockheed Martin Directors Equity Plan F1, F2
holding LMT Phantom Stock Units 885 Feb 15, 2024 Common Stock 885 Lockheed Martin Directors Deferred Comp Plan F1, F3
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Phantom stock units convert to common stock on a one-for-one basis.
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 $423.12 per share and vest 50% on June 30 following the award date and 50% on December 31 following the award date. All unvested awards will vest in full upon retirement due to the age limitation in the bylaws, death, disability or change in control, or one-third upon failure to stand for reelection. Settlement in cash or stock (as elected by the director) will occur upon the Reporting Person's 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 The information pertains to previously acquired phantom stock units under the Lockheed Martin Corporation Directors Deferred Compensation Plan exempt under Section 16(b) which will be settled upon the Reporting Person's retirement or termination of service.