[Form 4] LOCKHEED MARTIN CORP Insider Trading Activity
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Lockheed Martin director Patricia E. Yarrington received an equity award of 260.5044 phantom stock units under the company’s Directors Equity Plan. These units convert into common stock on a one-for-one basis and were acquired at $652.58 per unit. The award vests 50% on June 30 and 50% on December 31 following the grant date, with accelerated vesting in certain events such as retirement under the bylaws’ age limit, death, disability, change in control, or partial vesting upon failure to stand for reelection. Following this award and dividend reinvestment, her indirect holdings under the plan total 2,228.0546 phantom stock units, with settlement in cash or stock generally occurring upon termination of board service.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Yarrington Patricia E
Role
Director
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units | 260.504 | $0.00 | -- |
Holdings After Transaction:
Phantom Stock Units — 2,228.055 shares (Indirect, Lockheed Martin Directors Equity Plan)
Footnotes (1)
- Phantom stock units convert to common stock on a one-for-one basis. 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 $652.58 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. Holdings as of reportable transaction date include additional acquisitions through dividend reinvestment.