Director John Donovan awarded phantom stock units at Lockheed Martin (LMT)

Rhea-AI Filing Summary

Lockheed Martin director John Donovan received an award of phantom stock units under the company’s Directors Equity Plan. On February 13, 2026, he acquired 260.5044 phantom stock units, bringing his balance under that plan to 2,038.1299 units. The units were valued at $652.58 per unit for award purposes and convert to common stock on a one-for-one basis.

The award vests 50% on June 30 following the grant date and 50% on December 31 following the grant date, with accelerated vesting in certain events such as retirement due to age limits, death, disability, change in control, or partial vesting upon failure to stand for reelection. Settlement in cash or stock, at the director’s election, generally occurs upon termination of board service. Donovan also reports 1,362.1628 previously acquired phantom stock units held under the Directors Deferred Compensation Plan, which will be settled upon retirement or termination of service.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Donovan John

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	260.504	$0.00	--
holding	Phantom Stock Units	--	--	--

Holdings After Transaction: Phantom Stock Units — 2,038.13 shares (Indirect, Lockheed Martin Directors Equity Plan)

Footnotes (1)

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. The information pertains to previously acquired phantom stock units under the Lockheed Martin Corporation Directors Deferred Compensation Plan exempt under Section 16(b) which will be settled upon the Reporting Person's retirement or termination of service.

Form 4 Insider Transactions: What Each Field Means →

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

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 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)
02/13/2026

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)	02/13/2026		A		260.5044		(2)	(2)	Common Stock	260.5044	(2)	2,038.1299	I	Lockheed Martin Directors Equity Plan
Phantom Stock Units	(1)							(3)	(3)	Common Stock	1,362.1628		1,362.1628	I	Lockheed Martin Directors Deferred Comp Plan

Explanation of Responses:

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

2. 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.

3. The information pertains to previously acquired phantom stock units under the Lockheed Martin Corporation Directors Deferred Compensation Plan exempt under Section 16(b) which will be settled upon the Reporting Person's retirement or termination of service.

	John M. Donovan, by Lynda M. Noggle, Attorney-in-fact	02/18/2026
	** 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.
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FAQ

What did Lockheed Martin (LMT) director John Donovan report on this Form 4?

John Donovan reported receiving an award of phantom stock units under Lockheed Martin’s Directors Equity Plan. He acquired 260.5044 units on February 13, 2026, and now holds 2,038.1299 units in that plan, plus additional units in a deferred compensation plan.

How many phantom stock units did John Donovan acquire from Lockheed Martin (LMT)?

John Donovan acquired 260.5044 phantom stock units in this transaction. After the grant, his total phantom stock holdings under the Directors Equity Plan increased to 2,038.1299 units, separate from 1,362.1628 units reported under the Directors Deferred Compensation Plan.

At what price were John Donovan’s Lockheed Martin phantom stock units awarded?

The phantom stock units were acquired at $652.58 per unit for award purposes. This value is used to determine the size of the award under the Directors Equity Plan, with the units themselves converting into common stock on a one-for-one basis at settlement.

What is the vesting schedule for John Donovan’s new Lockheed Martin phantom stock units?

The award vests in two equal installments: 50% on June 30 following the award date and 50% on December 31 following the award date. All unvested awards vest fully upon specified events like retirement due to age limits, death, disability, or change in control.

When will John Donovan’s Lockheed Martin phantom stock units be settled?

For the Directors Equity Plan award, settlement in cash or stock occurs when John Donovan’s board service terminates, subject to elections available to certain directors. For units in the Directors Deferred Compensation Plan, settlement occurs upon his retirement or termination of service from Lockheed Martin.

Do John Donovan’s Lockheed Martin phantom stock units convert into common stock?

Yes. The phantom stock units convert into Lockheed Martin common stock on a one-for-one basis. Under the plans, the resulting value is delivered in cash or stock, depending on plan terms and the director’s elections at the time of settlement.