Lockheed Martin (LMT) grants director new phantom stock unit award

Rhea-AI Filing Summary

Lockheed Martin Corporation director John C. Aquilino reported an acquisition of phantom stock units under the company’s Directors Equity Plan. He was granted 260.5044 phantom stock units at $652.58 per unit, bringing his total indirect holdings in these units to 673.7911.

Each phantom stock unit converts to Lockheed Martin common stock on a one-for-one basis. The award vests 50% on June 30 and 50% on December 31 following the award date, with accelerated vesting upon certain events such as retirement under the age limitation, death, disability, change in control, or partial vesting upon failure to stand for reelection. Settlement in cash or stock occurs after his board service ends, with limited deferral options for directors who meet stock ownership guidelines. Holdings also reflect additional units acquired through dividend reinvestment.

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^*

Aquilino John C

(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)	673.7911(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. 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. Holdings as of reportable transaction date include additional acquisitions through dividend reinvestment.

Remarks:

Exhibits 24, Power of Attorney and Substitute Power of Attorney

	John C. Aquilino, 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.
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 John C. Aquilino report for Lockheed Martin (LMT)?

John C. Aquilino reported receiving an award of 260.5044 phantom stock units under Lockheed Martin’s Directors Equity Plan. These units are a form of deferred equity-based compensation that track the value of Lockheed Martin common stock on a one-for-one basis for non-employee directors.

How many phantom stock units does John C. Aquilino hold after this Form 4 filing for LMT?

After the reported award, John C. Aquilino indirectly holds 673.7911 phantom stock units. This total reflects the new 260.5044-unit grant plus prior holdings, including additional units accumulated through dividend reinvestment within the Lockheed Martin Directors Equity Plan structure.

At what price were John C. Aquilino’s Lockheed Martin phantom stock units acquired?

The phantom stock units were acquired at $652.58 per unit under the Directors Equity Plan. This represents the reference share price used for determining the award’s size, rather than a cash purchase by the director in the open market.

When do John C. Aquilino’s Lockheed Martin phantom stock units vest?

The phantom stock units vest in two equal installments: 50% on June 30 following the award date and 50% on December 31 following the award date. Certain events, such as retirement under age limits, death, disability, or change in control, can accelerate vesting.

How are John C. Aquilino’s Lockheed Martin phantom stock units settled?

The phantom stock units are settled in cash or stock, at the director’s election, when his service as a non-employee director ends. Directors who meet stock ownership guidelines may alternatively elect payment on the first business day of April following vesting.

Do John C. Aquilino’s phantom stock units for LMT include dividend equivalents?

Yes. The award can include dividend equivalents that are paid together with the underlying phantom stock units. Holdings reported also include additional units acquired through dividend reinvestment, which accumulate as Lockheed Martin pays dividends on its common stock.