Lockheed Martin (LMT) director awarded 260 phantom stock units under equity plan

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Rhea-AI Filing Summary

Lockheed Martin director Thomas J. Falk received an award of 260.5044 phantom stock units under the company’s Amended and Restated Directors Equity Plan. These phantom units convert to common stock on a one-for-one basis and were acquired at $652.58 per unit. They vest 50% on June 30 and 50% on December 31 following the award date, with accelerated vesting upon events such as retirement due to age limitation, death, disability, change in control, or partially upon failure to stand for reelection. Following this grant, Falk indirectly holds a total of 15,453.7516 phantom stock units, including additional units from dividend reinvestment.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider FALK THOMAS J

Role Director

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

Holdings After Transaction: Phantom Stock Units — 15,453.752 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.

Form 4 Insider Transactions: What Each Field Means →

02/18/2026 - 04:23 PM

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

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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^*

FALK THOMAS J

(Last)

(First)

(Middle)

6801 ROCKLEDGE DRIVE

(Street)

BETHESDA

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Phantom Stock Units	⁽¹⁾	02/13/2026		A		260.5044		⁽²⁾	⁽²⁾	Common Stock	260.5044	⁽²⁾	15,453.7516⁽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

	Thomas J. Falk, 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.

Source: View Original Filing on SEC EDGAR

FAQ

What did Lockheed Martin (LMT) director Thomas J. Falk report on this Form 4?

Thomas J. Falk reported acquiring 260.5044 phantom stock units under Lockheed Martin’s Directors Equity Plan. These units are a form of deferred equity compensation that track the value of common stock and settle in cash or stock upon termination of service.

How do the Lockheed Martin (LMT) phantom stock units granted to Thomas J. Falk work?

The phantom stock units convert to Lockheed Martin common stock on a one-for-one basis. They mirror the stock’s value but do not represent current shares, instead settling in cash or stock when the director’s board service ends, as allowed by the plan’s terms.

What is the vesting schedule for Thomas J. Falk’s new Lockheed Martin (LMT) phantom units?

The 260.5044 phantom stock units vest 50% on June 30 and 50% on December 31 following the award date. Unvested units can fully vest earlier upon retirement due to age limits, death, disability, change in control, or partially if he does not stand for reelection.

At what value were Thomas J. Falk’s Lockheed Martin (LMT) phantom stock units acquired?

The phantom stock units were acquired at $652.58 per unit under the Directors Equity Plan. This value is used for the award calculation and reflects the notional price for the grant, though the units themselves are a deferred compensation instrument rather than current stock.

How many Lockheed Martin (LMT) phantom stock units does Thomas J. Falk hold after this grant?

After this award, Thomas J. Falk indirectly holds a total of 15,453.7516 phantom stock units. This total includes the new 260.5044-unit grant and additional units accumulated through dividend reinvestment as of the reportable transaction date.

How and when will Thomas J. Falk’s Lockheed Martin (LMT) phantom stock units be settled?

The phantom stock units will be settled in cash or stock, as elected by Falk, upon termination of his board service. Non-employee directors meeting stock ownership guidelines may instead elect payment on the first business day of April following vesting of the award and related dividend equivalents.