Lockheed Martin (NYSE: LMT) director defers fees into phantom stock
Rhea-AI Filing Summary
LOCKHEED MARTIN CORP director David B. Burritt reported routine compensation-related activity involving phantom stock units. On the reported date, he received an award of 83.4216 phantom stock units under the Lockheed Martin Corporation Directors Deferred Compensation Plan, reflecting deferral of director retainer fees.
The phantom stock units convert to common stock on a one-for-one basis but are settled in cash upon retirement or termination of service, rather than delivering actual shares at this time. Following the award, he indirectly holds 11,473.2749 phantom stock units in the deferred compensation plan and 14,183.9226 phantom stock units in aggregate plans linked to Lockheed Martin common stock.
Positive
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Insider Trade Summary
2 transactions reported
Mixed
2 txns
Insider
BURRITT DAVID B
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units | 83.4216 | $0.00 | $0.00 |
| holding | Phantom Stock Units | -- | -- | -- |
Holdings After Transaction:
Phantom Stock Units — 11,473.2749 shares (Indirect, Lockheed Martin Directors Deferred Comp Plan);
Phantom Stock Units — 14,183.9226 shares (Indirect, Lockheed Martin Directors Equity Plan)
Footnotes (4)
- F1. Phantom stock units convert to common stock on a one-for-one basis.
- F2. The information pertains to phantom stock units acquired at $509.46 per share through director retainer fee deferral under the Lockheed Martin Corporation Directors Deferred Compensation Plan exempt under Section 16(b). Units are settled in cash upon the reporting person's retirement or termination of service.
- F3. Holdings as of reportable transaction date include additional acquisitions through dividend reinvestment.
- F4. The information pertains to previously acquired stock units under the Lockheed Martin Corporation Amended and Restated Directors Equity Plan exempt under Section 16(b). 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 payment of awards granted on or after January 1, 2018 (together with any dividend equivalents thereon) made on the first business day of April following vesting of the award.
Key Figures
Phantom stock units granted: 83.4216 units
Deferred fee credit price: $509.46 per share
Deferred Comp Plan holdings: 11,473.2749 units
+2 more
5 metrics
Phantom stock units granted
83.4216 units
Award under Directors Deferred Compensation Plan on 2026-06-30
Deferred fee credit price
$509.46 per share
Director retainer fee deferral rate for new units
Deferred Comp Plan holdings
11,473.2749 units
Phantom stock units after award in Deferred Compensation Plan
Total phantom units linked to stock
14,183.9226 units
Aggregate phantom stock units indirectly held, one-for-one with common stock
Exercise price of units
$0.0000
Phantom stock units have no exercise price; settle in cash or stock per plan
Key Terms
Phantom stock units, Directors Deferred Compensation Plan, Section 16(b), dividend reinvestment, +1 more
5 terms
Phantom stock units financial
"Phantom stock units convert to common stock on a one-for-one basis."
Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.
Directors Deferred Compensation Plan financial
"through director retainer fee deferral under the Lockheed Martin Corporation Directors Deferred Compensation Plan"
A directors deferred compensation plan lets a board member postpone receiving part or all of their cash fees or stock-based pay until a future date, often retirement, allowing taxes to be delayed and payouts to be structured over time. Investors care because these plans change a company’s future cash obligations and reveal how the board’s pay is aligned with long-term performance—like choosing to take a paycheck later to tie personal reward to the company’s future results.
Section 16(b) regulatory
"exempt under Section 16(b). Units are settled in cash upon the reporting person's retirement"
A federal rule that requires company insiders—like officers, directors and large shareholders—to return any profits made from buying and selling the company’s stock within a six-month window. It matters to investors because it discourages short-term trades that could exploit non-public information and helps protect outside shareholders by creating a simple, enforceable way to recover unfair gains, much like a rule stopping someone from flipping a limited-edition item for quick profit after getting early access.
dividend reinvestment financial
"Holdings as of reportable transaction date include additional acquisitions through dividend reinvestment."
Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.
stock ownership guidelines financial
"non-employee directors who have satisfied our stock ownership guidelines may elect to have payment"
Stock ownership guidelines are company rules that require executives and board members to hold a minimum amount of the company’s shares, often expressed as a dollar value or as a multiple of their salary. They matter to investors because they align leaders’ financial incentives with long-term shareholder value—think of it as forcing managers to have “skin in the game”—and can reduce the likelihood of short-term decisions that hurt the stock.
FAQ
What did Lockheed Martin (LMT) director David B. Burritt report in this Form 4?
He reported a routine compensation-related award of phantom stock units. The filing shows an 83.4216-unit grant tied to deferred director fees and updated indirect holdings in Lockheed Martin’s director compensation plans linked to common stock performance.
How many phantom stock units did the LMT director receive in this transaction?
He received 83.4216 phantom stock units. These units were credited at a value of $509.46 per share through director retainer fee deferral, under Lockheed Martin’s Directors Deferred Compensation Plan, and represent additional deferred compensation rather than an open-market stock purchase.
How were the new phantom stock units for the LMT director priced?
The newly acquired phantom stock units were credited at $509.46 per share through director retainer fee deferral. This pricing reflects the share value used in the deferred compensation calculation and applies to units settled in cash at a future retirement or termination event.
AI-generated analysis. How Rhea-AI works. Not financial advice.
