Debra L. Reed - 15 Feb 2024 Form 4 Insider Report for LOCKHEED MARTIN CORP (LMT)

Role
Director
Signature
Debra L. Reed-Klages, by John E. Stevens, Attorney-in-fact
Issuer symbol
LMT
Transactions as of
15 Feb 2024
Net transactions value
$0
Form type
4
Filing time
20 Feb 2024, 19:04:26 UTC
Previous filing
15 Jun 2023
Next filing
30 May 2024
SEC
View on sec.gov

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 +22% 2,241 15 Feb 2024 Common Stock 402 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 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 Holdings as of reportable transaction date include additional acquisitions through dividend reinvestment.

Remarks:

Exhibit 24, Substitute Power of Attorney