Lockheed Martin (NYSE: LMT) director awarded new phantom stock units

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Dunford Joseph F Jr reported acquisition or exercise transactions in this Form 4 filing.

Lockheed Martin director Joseph F. Dunford Jr. received 80.6598 phantom stock units on March 31, 2026 under the Lockheed Martin Directors Deferred Compensation Plan. These units track common stock one-for-one, were credited at $604.39 per share through deferral of director retainer fees, and are settled in cash when his board service ends. He also holds 2,952.6108 phantom stock units under the Amended and Restated Directors Equity Plan, which are payable in cash or stock upon retirement or termination of service, with certain awards eligible for payment in the April following vesting. Holdings include additional units from dividend reinvestment.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Dunford Joseph F Jr

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Units	80.66	$0.00	--
holding	Phantom Stock Units	--	--	--

Holdings After Transaction: Phantom Stock Units — 80.66 shares (Indirect, Lockheed Martin Directors Deferred Comp Plan)

Footnotes (1)

Phantom stock units convert to common stock on a one-for-one basis. The information pertains to phantom stock units acquired at $604.39 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. 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. Holdings as of reportable transaction date include additional acquisitions through dividend reinvestment.

Key Figures

New phantom units granted: 80.6598 units Reference share value: $604.39 per share Directors Equity Plan units: 2,952.6108 units +1 more

4 metrics

New phantom units granted 80.6598 units Directors Deferred Compensation Plan on March 31, 2026

Reference share value $604.39 per share Director retainer fee deferral valuation

Directors Equity Plan units 2,952.6108 units Phantom stock units held after reportable date

Exercise price of units $0.0000 Phantom stock units convert one-for-one to common stock

Key Terms

Phantom stock units, Directors Deferred Compensation Plan, Amended and Restated Directors Equity Plan, dividend reinvestment

4 terms

Phantom stock units financial

"Phantom stock units convert to common stock on a one-for-one basis."

Phantom stock units are company promises that pay a cash or stock-equivalent award tied to the firm’s share price or value growth, but they do not issue actual shares. Think of them as a bonus check that moves with the stock like a mirror rather than handing over an ownership slice. Investors care because these awards can affect a company’s future cash obligations, executive incentives and reported expenses without causing share dilution.

Directors Deferred Compensation Plan financial

"through director retainer fee deferral under the Lockheed Martin Corporation Directors Deferred Compensation Plan"

Amended and Restated Directors Equity Plan financial

"previously acquired stock units under the Lockheed Martin Corporation Amended and Restated Directors Equity Plan"

dividend reinvestment financial

"Holdings as of reportable transaction date include additional acquisitions through dividend reinvestment."

Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.

Form 4 Insider Transactions: What Each Field Means →

04/02/2026 - 04:21 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

OMB Number:			3235-0287
Estimated average burden
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

MARYLAND

20817

(City)

(State)

(Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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⁾	03/31/2026		A		80.6598		⁽²⁾	⁽²⁾	Common Stock	80.6598	⁽²⁾	80.6598	I	Lockheed Martin Directors Deferred Comp Plan
Phantom Stock Units	⁽¹⁾							⁽³⁾	⁽³⁾	Common Stock	2,952.6108		2,952.6108⁽⁴⁾	I	Lockheed Martin Directors Equity Plan

Explanation of Responses:

1. Phantom stock units convert to common stock on a one-for-one basis.

2. The information pertains to phantom stock units acquired at $604.39 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.

3. 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.

4. Holdings as of reportable transaction date include additional acquisitions through dividend reinvestment.

	Joseph F. Dunford, Jr., by Lynda M. Noggle, Attorney-in-fact	04/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)

Source: View Original Filing on SEC EDGAR

FAQ

What did LMT director Joseph F. Dunford Jr. acquire in this Form 4?

Joseph F. Dunford Jr. received 80.6598 phantom stock units tied to Lockheed Martin common stock. The units were credited as part of deferred director retainer fees and represent compensation rather than an open-market stock purchase or sale.

How are Joseph F. Dunford Jr.’s LMT phantom stock units valued and credited?

The phantom stock units were acquired at a reference value of $604.39 per share through deferral of director retainer fees. Their value tracks Lockheed Martin common stock on a one-for-one basis, mirroring share performance without issuing actual shares immediately.

When will Joseph F. Dunford Jr.’s LMT phantom stock units be settled?

Phantom stock units under the Directors Deferred Compensation Plan are settled in cash when his board service ends. Units under the Directors Equity Plan are settled in cash or stock at retirement or termination, with some awards payable the first business day of April after vesting.

How many LMT phantom stock units does Joseph F. Dunford Jr. now hold?

Following the reported transactions, he holds 80.6598 phantom stock units in the Directors Deferred Compensation Plan and 2,952.6108 units in the Directors Equity Plan. These balances also reflect additional units accumulated through dividend reinvestment over time.

Are Joseph F. Dunford Jr.’s LMT phantom stock units settled in cash or stock?

Units under the Directors Deferred Compensation Plan are settled in cash at retirement or termination. Under the Directors Equity Plan, he may elect settlement in cash or stock, with some awards payable in early April following vesting once stock ownership guidelines are satisfied.