Lockheed Martin (LMT) CEO details RSU exercise, new grant and tax share disposition
Rhea-AI Filing Summary
Lockheed Martin Chairman, President & CEO James D. Taiclet Jr. reported multiple equity transactions in connection with long-term incentive awards. He exercised 9,618 restricted stock units, converting them into the same number of shares of common stock at a stated price of $0.00 per share.
He also received a separate grant or award of 7,842 shares of common stock, bringing his directly held common stock to 51,623.855 shares before tax withholding. To cover tax obligations upon vesting and settlement of stock units, 7,661 shares of common stock were disposed to Lockheed Martin at $658.26 per share, reducing his direct common stock holdings to 43,962.855 shares.
In addition to direct ownership, the filing shows 32,831 shares of common stock held indirectly through a grantor retained annuity trust and 70.3951 shares held indirectly in the Lockheed Martin Salaried Savings Plan as of the reportable date.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Restricted Stock Units | 9,618 | $0.00 | -- |
| Exercise | Common Stock | 9,618 | $0.00 | -- |
| Grant/Award | Common Stock | 7,842 | $0.00 | -- |
| Tax Withholding | Common Stock | 7,661 | $658.26 | $5.04M |
| holding | Common Stock | -- | -- | -- |
| holding | Common Stock | -- | -- | -- |
Footnotes (1)
- Restricted stock units convert to common stock on a one-for-one basis. Shares acquired upon settlement of performance stock units granted on February 22, 2023, following the end of a three-year performance period 2023-2025 (Performance Cycle). The amount earned during the Performance Cycle is based on the satisfaction of performance against three separate financial metrics. Disposition to the Issuer of shares to satisfy the Reporting Person's tax withholding obligation upon vesting and settlement of stock units which is exempt under Rule 16b-3. Reflects the Reporting Person's contribution of 32,831 shares of Issuer common stock to a grantor retained annuity trust since the date of the Reporting Person's last filed Form 4, which contribution is exempt under Rule 16a-13. These shares were previously reported as directly beneficially owned. Holdings as of reportable transaction date include additional acquisitions and dividend reinvestment under the company's 401(k) plan. On February 22, 2023, the reporting person was granted 10,009 restricted stock units, the remaining unvested portion of which vested on the third anniversary of the grant date.
