Lockheed Martin (LMT) executive awarded 2,084 restricted stock units in Form 4
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Hill Stephanie C. reported acquisition or exercise transactions in this Form 4 filing.
Lockheed Martin executive Stephanie C. Hill, President of Rotary & Mission Systems, received a grant of 2,084 restricted stock units of Lockheed Martin common stock at a price of $0.00 per unit. Each unit represents the right to receive one share of common stock if vesting conditions are met.
The award vests on the third anniversary of the grant date. For retirement-eligible executives, vesting may be accelerated as needed to cover tax withholding, with the corresponding vested shares delivered back to the company to satisfy those tax obligations under an exempt Rule 16b-3 transaction.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Hill Stephanie C.
Role
Pres. Rotary & Mission Systems
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 2,084 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Units — 2,084 shares (Direct)
Footnotes (1)
- Each restricted stock unit represents a contingent right to receive one share of LMT common stock. Award of restricted stock units which vests on the third anniversary of the grant date. Per the award agreement, vesting may be accelerated to the extent necessary to satisfy tax withholding obligations for retirement-eligible Reporting Persons and such vested shares shall be disposed to the Issuer for the purposes of satisfying the Reporting Person's tax withholding obligations, which is an exempt transaction under Rule 16b-3.
FAQ
What insider transaction did Lockheed Martin (LMT) report for Stephanie C. Hill?
Lockheed Martin reported that executive Stephanie C. Hill received 2,084 restricted stock units as an equity award. These units represent a contingent right to receive the same number of Lockheed Martin common shares, subject to future vesting conditions and potential tax-related share withholding.
How many restricted stock units did Stephanie C. Hill acquire in this Lockheed Martin Form 4?
Stephanie C. Hill acquired 2,084 restricted stock units in this transaction. Each restricted stock unit corresponds to one share of Lockheed Martin common stock, contingent on vesting, making the award equivalent to 2,084 potential shares if all vesting conditions are ultimately satisfied.
What are the vesting terms of Stephanie C. Hill’s restricted stock units at Lockheed Martin (LMT)?
The restricted stock units awarded to Stephanie C. Hill vest on the third anniversary of the grant date. For retirement-eligible executives, vesting may be accelerated as necessary to cover tax withholding obligations, with certain vested shares used specifically to satisfy those tax payments.
Does Stephanie C. Hill pay anything for the restricted stock units reported by Lockheed Martin (LMT)?
Stephanie C. Hill does not pay a purchase price for these restricted stock units, which are granted at $0.00 per unit. The award is part of her equity compensation, providing a contingent right to receive shares if the time-based vesting requirement is met.
How will taxes be handled on Stephanie C. Hill’s Lockheed Martin restricted stock units?
For retirement-eligible reporting persons, vesting of restricted stock units may be accelerated to satisfy tax withholding obligations. In that case, vested shares are transferred back to Lockheed Martin to cover taxes, in a transaction exempt from short-swing profit rules under Rule 16b-3.
What does each restricted stock unit represent in this Lockheed Martin (LMT) Form 4 filing?
Each restricted stock unit represents a contingent right to receive one share of Lockheed Martin common stock. Delivery of shares occurs only if the award satisfies its vesting terms, which include a three-year time-based vesting schedule from the grant date described in the filing.