Lockheed Martin (LMT) director granted 260.5 phantom stock units as equity

Rhea-AI Filing Summary

Lockheed Martin director David B. Burritt reported an award of 260.5044 phantom stock units under the Lockheed Martin Directors Equity Plan, which are treated as a grant/award acquisition. According to the plan, these units were acquired at $652.58 per share and vest 50% on June 30 and 50% on December 31 following the award date, with accelerated vesting in certain retirement, death, disability, or change-in-control situations. After this award, Burritt indirectly holds 14,009.6487 phantom stock units under the Directors Equity Plan and 11,179.9822 phantom stock units under the Directors Deferred Compensation Plan, which will be settled upon his retirement or termination of service.

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

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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^*

BURRITT DAVID B

(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)	14,009.6487	I	Lockheed Martin Directors Equity Plan
Phantom Stock Units	(1)							(3)	(3)	Common Stock	11,179.9822		11,179.9822	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.

	David B. Burritt, 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.
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FAQ

What did LMT director David B. Burritt report on this Form 4?

David B. Burritt reported receiving a grant of 260.5044 phantom stock units under Lockheed Martin’s Directors Equity Plan. These units are a form of deferred compensation that track the value of common stock and will be settled in cash or stock at a later date.

At what price were David B. Burritt’s Lockheed Martin phantom stock units granted?

The phantom stock units were acquired at $652.58 per share under the Directors Equity Plan. This price is used to determine the initial award value and links the grant’s value directly to Lockheed Martin’s share price performance over time.

How do David B. Burritt’s Lockheed Martin phantom stock units vest?

The award vests 50% on June 30 and 50% on December 31 following the award date. Unvested units vest fully upon certain events such as retirement due to age limits, death, disability, change in control, or partially if he does not stand for reelection.

How many Lockheed Martin phantom stock units does David B. Burritt now hold?

Following the grant, Burritt indirectly holds 14,009.6487 phantom stock units under the Directors Equity Plan and 11,179.9822 phantom stock units under the Directors Deferred Compensation Plan, providing a deferred, stock-linked component to his director compensation.

When will David B. Burritt’s Lockheed Martin phantom stock units be settled?

Settlement generally occurs upon Burritt’s termination of service as a director. For some awards, if stock ownership guidelines are met, he may elect payment on the first business day of April after vesting, in either cash or stock, including dividend equivalents.

Do David B. Burritt’s phantom stock units in LMT convert into common shares?

The phantom stock units convert to common stock on a one-for-one basis for settlement purposes. They function as deferred units that mirror Lockheed Martin’s stock value and can ultimately be paid in cash or shares, as provided by the applicable director plans.