Director at Lockheed (NYSE: LMT) awarded new phantom stock units

Rhea-AI Filing Summary

Lockheed Martin director Joseph F. Dunford Jr. acquired 260.5044 phantom stock units under the Lockheed Martin Directors Equity Plan. These units were granted at $652.58 per unit and each converts into one share of common stock.

The award vests 50% on June 30 and 50% on December 31 following the award date, with accelerated vesting in certain events such as retirement at the bylaw age limit, death, disability, change in control, or partial vesting upon failure to stand for reelection. After this grant, Dunford indirectly holds a total of 2,936.1622 phantom stock units, including amounts accumulated through dividend reinvestment.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Dunford Joseph F Jr

Role Director

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

Holdings After Transaction: Phantom Stock Units — 2,936.162 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. Holdings as of reportable transaction date include additional acquisitions through dividend reinvestment.

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
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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^*

Dunford Joseph F Jr

(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)	2,936.1622(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

	Joseph F. Dunford, Jr., 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 did Lockheed Martin (LMT) director Joseph F. Dunford Jr. report on this Form 4?

He reported an award of 260.5044 phantom stock units under the Lockheed Martin Directors Equity Plan. These units are a form of deferred equity compensation that convert one-for-one into common stock and are held indirectly through the company’s director equity program.

At what price were Joseph F. Dunford Jr.’s phantom stock units awarded at Lockheed Martin (LMT)?

The phantom stock units were acquired at $652.58 per unit under the directors equity plan. This grant is classified as a compensation award, not an open-market purchase, and forms part of the director’s deferred equity-based remuneration package at Lockheed Martin.

How and when do Joseph F. Dunford Jr.’s Lockheed Martin (LMT) phantom stock units vest?

The award vests 50% on June 30 and 50% on December 31 following the award date. All unvested units vest fully upon specified events like retirement at the age limit, death, disability, change in control, or partially if the director does not stand for reelection.

How many Lockheed Martin (LMT) phantom stock units does Joseph F. Dunford Jr. hold after this transaction?

Following this award, he indirectly holds a total of 2,936.1622 phantom stock units. This figure includes the newly granted units as well as additional phantom stock accumulated through dividend reinvestment within the directors equity plan structure.

How are Joseph F. Dunford Jr.’s Lockheed Martin (LMT) phantom stock units settled at the end of service?

Settlement occurs in cash or stock, at the director’s election, when service terminates. Non-employee directors meeting stock ownership guidelines may instead elect payment, including dividend equivalents, on the first business day of April following vesting of the award.

Do Joseph F. Dunford Jr.’s Lockheed Martin (LMT) phantom stock units pay dividends?

His holdings include additional phantom stock units acquired through dividend reinvestment. Dividend equivalents on these awards can be paid together with the underlying units when they are ultimately settled, either at service termination or on the deferred payment date elected by eligible directors.