Lockheed Martin (LMT) director updates phantom stock and equity plan holdings

Rhea-AI Filing Summary

Lockheed Martin director David B. Burritt reported equity-related holdings and a new phantom stock unit transaction. On 12/31/2025, he acquired 87.8698 phantom stock units at $483.67 per share through deferral of his director retainer fee under the Lockheed Martin Corporation Directors Deferred Compensation Plan. These phantom stock units are tied one-for-one to Lockheed Martin common stock but are settled in cash when he retires or his board service ends.

Following this transaction, he held 11,179.9822 phantom stock units in the Directors Deferred Compensation Plan and 13,749.1442 stock units under the Amended and Restated Directors Equity Plan. Awards under the equity plan may be settled in cash or stock at retirement or termination, and certain non-employee directors who meet stock ownership guidelines may elect payment for awards granted on or after January 1, 2018 on the first business day of April following vesting.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BURRITT DAVID B

(Last) (First) (Middle)

6801 ROCKLEDGE DRIVE

(Street)

BETHESDA MD 20817

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LOCKHEED MARTIN CORP [ LMT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Units	(1)	12/31/2025		A		87.8698		(2)	(2)	Common Stock	87.8698	(2)	11,179.9822(3)	I	Lockheed Martin Directors Deferred Comp Plan
Phantom Stock Units	(1)							(4)	(4)	Common Stock	13,749.1442		13,749.1442(3)	I	Lockheed Martin Directors Equity Plan

Explanation of Responses:

1. Phantom stock units convert to common stock on a one-for-one basis.

2. The information pertains to phantom stock units acquired at $483.67 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.

3. Holdings as of reportable transaction date include additional acquisitions through dividend reinvestment.

4. 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.

Remarks:

Exhibit 24, Substitute Power of Attorney

	David B. Burritt, by Lynda M. Noggle, Attorney-in-fact	01/05/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did Lockheed Martin (LMT) report for director David B. Burritt?

Director David B. Burritt reported acquiring 87.8698 phantom stock units on 12/31/2025 through deferral of his director retainer fee under the Lockheed Martin Corporation Directors Deferred Compensation Plan.

At what price were the Lockheed Martin (LMT) phantom stock units acquired by the director?

The reported phantom stock units were acquired at $483.67 per share through the director retainer fee deferral arrangement.

How many Lockheed Martin phantom stock units does the director hold after the reported transaction?

After the reported transaction, the director held 11,179.9822 phantom stock units in the Directors Deferred Compensation Plan and 13,749.1442 stock units under the Amended and Restated Directors Equity Plan.

How do Lockheed Martin (LMT) phantom stock units relate to common stock?

Phantom stock units convert to common stock on a one-for-one basis for measurement purposes, but units in the Directors Deferred Compensation Plan are settled in cash upon the director's retirement or termination of service.

When are Lockheed Martin directors’ phantom stock and equity plan units paid out?

Units in the Directors Deferred Compensation Plan are paid in cash upon retirement or termination of service. Under the Amended and Restated Directors Equity Plan, settlement in cash or stock (as elected by the director) occurs at retirement or termination, and certain non-employee directors who meet stock ownership guidelines may elect payment for awards granted on or after January 1, 2018 on the first business day of April following vesting.

Does the Lockheed Martin (LMT) director’s holding include dividend reinvestment?

Yes. The filing states that the holdings as of the reportable transaction date include additional acquisitions through dividend reinvestment.