Lockheed Martin director reports 100.1582 phantom stock units at $499.21 each
Rhea-AI Filing Summary
John Donovan, a Lockheed Martin director, reported acquisition of 100.1582 phantom stock units on 09/30/2025 through deferral of director retainer fees under the Lockheed Martin Directors Deferred Compensation Plan at a per‑unit value of $499.21. The filing states phantom stock units convert one‑for‑one to common stock but are settled in cash upon the reporting person’s retirement or termination. The report shows 1,249.9498 phantom shares beneficially owned under the Deferred Comp Plan (including dividend reinvestments) and 1,765.1464 previously acquired stock units under the Directors Equity Plan, which may be settled in cash or stock as elected by the director.
Positive
- Transparent disclosure of director deferral transaction including price per unit ($499.21) and settlement terms
- Details on holdings across the Directors Deferred Compensation Plan and Directors Equity Plan (1,249.9498 and 1,765.1464 units) improve investor visibility
Negative
- Deferred units under the Deferred Compensation Plan are settled in cash, so the reporting person may not receive actual shares that carry voting rights
Insights
TL;DR: Routine director compensation deferral into phantom units; holdings are disclosed and settlement is largely cash‑based.
The filing documents a standard director action: deferral of retainer fees into phantom stock units rather than an open‑market purchase. The units are recorded as phantom units that convert one‑for‑one to common stock for accounting but are explicitly settled in cash on termination or retirement for the Deferred Compensation Plan. Disclosure of dividend reinvestment and previously held equity plan units provides transparency on total director economic exposure. This is a compliance‑oriented Form 4 with no indication of unusual timing or exertion of control rights.
TL;DR: Director elected to receive compensation in deferred phantom stock units valued at $499.21 each; treatment aligns with plan rules.
The transaction reflects an administrative comp‑plan election to defer cash retainer into company‑tied phantom units. The per‑unit valuation of $499.21 is provided, and the report notes accumulation via dividend reinvestment. Important for pay‑structure analysis is that Deferred Compensation Plan units settle in cash, whereas Equity Plan units may be paid in cash or stock per director election, which affects realized equity exposure and potential dilution impact. Overall, the move is a standard compensation mechanics disclosure rather than a market signal.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Units | 100.158 | $0.00 | -- |
| holding | Phantom Stock Units | -- | -- | -- |
Footnotes (1)
- Phantom stock units convert to common stock on a one-for-one basis. The information pertains to phantom stock units acquired at $499.21 per share through director retainer fee deferral under the Lockheed Martin Corporation Directors Deferred Compensation Plan exempt under Section 16(b). Units are settled in cash upon the reporting person's retirement or termination of service. Holdings as of reportable transaction date include additional acquisitions through dividend reinvestment. The information pertains to previously acquired stock units under the Lockheed Martin Corporation Amended and Restated Directors Equity Plan exempt under Section 16(b). Settlement in cash or stock (as elected by the director) will occur upon the reporting person's retirement or termination of service, except that non-employee directors who have satisfied our stock ownership guidelines may elect to have payment of awards granted on or after January 1, 2018 (together with any dividend equivalents thereon) made on the first business day of April following vesting of the award.
