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Lockheed Martin (LMT) director adds phantom stock units through fee deferral

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Donovan John reported acquisition or exercise transactions in this Form 4 filing.

Lockheed Martin director John Donovan reported updated holdings of phantom stock units, including a new compensation-related award. He received 96.9163 phantom stock units under the Lockheed Martin Directors Deferred Compensation Plan at a stated price of $509.46 per share through deferral of director retainer fees.

Following this grant, Donovan indirectly holds 1,558.2733 phantom stock units in the deferred compensation plan and 2,063.4834 phantom stock units under the Directors Equity Plan. Each phantom stock unit corresponds one-for-one to Lockheed Martin common stock but is settled in cash, generally upon his retirement or termination of board service, and may accumulate additional units through dividend reinvestment.

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Insider Donovan John
Role null
Type Security Shares Price Value
Grant/Award Phantom Stock Units 96.916 $0.00 --
holding Phantom Stock Units -- -- --
Holdings After Transaction: Phantom Stock Units — 1,558.273 shares (Indirect, Lockheed Martin Directors Deferred Comp Plan)
Footnotes (1)
  1. Phantom stock units convert to common stock on a one-for-one basis. 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. Holdings as of reportable transaction date include additional acquisitions through dividend reinvestment. 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.
New phantom stock units granted 96.9163 units Directors Deferred Compensation Plan award
Implied acquisition price $509.46 per unit Director retainer fee deferral into phantom units
Deferred Comp Plan phantom units after grant 1,558.2733 units Indirect holdings following reported award
Directors Equity Plan phantom units held 2,063.4834 units Indirect holdings as of reportable date
Conversion ratio 1 unit : 1 share Phantom stock units to LMT common stock value
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.
Directors Equity Plan financial
"previously acquired stock units under the Lockheed Martin Corporation Amended and Restated Directors Equity Plan"
Section 16(b) regulatory
"exempt under Section 16(b)"
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.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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
OMB Number:3235-0287
Estimated average burden
hours per response:0.5
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*
Donovan John
(Last)(First)(Middle)
6801 ROCKLEDGE DRIVE
(Street)
BETHESDA MARYLAND 20817
(City)(State)(Zip)
UNITED STATES
(Country)		2. Issuer Name and Ticker or Trading Symbol
LOCKHEED MARTIN CORP [ LMT ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
06/30/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm filed by One Reporting Person
Form filed by More than One Reporting Person
4. If Amendment, Date of Original Filed (Month/Day/Year)

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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock Units(1)06/30/2026A96.9163 (2) (2)Common Stock96.9163(2)1,558.2733(3)ILockheed Martin Directors Deferred Comp Plan
Phantom Stock Units(1) (4) (4)Common Stock2,063.48342,063.4834(3)ILockheed 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 $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.
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.
John M. Donovan, by Lynda M. Noggle, Attorney-in-fact07/02/2026
** Signature of Reporting PersonDate
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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did Lockheed Martin (LMT) director John Donovan report?

John Donovan reported an award of 96.9163 phantom stock units under a Lockheed Martin directors deferred compensation plan. This is a compensation-related acquisition, not an open-market stock trade, and forms part of his overall non-cash equity-linked board compensation package.

How many phantom stock units does John Donovan hold at Lockheed Martin (LMT)?

After the reported transactions, John Donovan indirectly holds 1,558.2733 phantom stock units in the Directors Deferred Compensation Plan and 2,063.4834 units under the Directors Equity Plan. These positions reflect his accumulated board-related equity-linked compensation at Lockheed Martin Corporation.

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

Lockheed Martin’s phantom stock units convert on a one-for-one basis with common stock for value tracking. However, they are typically settled in cash rather than shares, generally at the director’s retirement or termination of service, aligning director compensation with shareholder value performance.

At what price were John Donovan’s new Lockheed Martin (LMT) phantom units credited?

The newly reported phantom stock units were acquired at $509.46 per share through deferral of director retainer fees. This price is used to calculate the number of units credited under the Lockheed Martin Corporation Directors Deferred Compensation Plan for non-employee directors.

When are Lockheed Martin (LMT) phantom stock units settled for directors?

Phantom stock units under Lockheed Martin’s director plans are generally settled in cash upon a director’s retirement or termination of service. Certain awards may allow settlement on a specified date after vesting, subject to plan terms and the director’s elections under the applicable equity or deferred compensation plan.