Lockheed Martin (LMT) CEO granted 8,803 restricted stock units as equity pay
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
TAICLET JAMES D JR reported acquisition or exercise transactions in this Form 4 filing.
LOCKHEED MARTIN CORP Chairman, President & CEO James D. Taiclet Jr. reported an equity compensation award of 8,803 restricted stock units. Each unit represents a contingent right to receive one share of Lockheed Martin common stock.
The award of restricted stock units vests on the third anniversary of the grant date. For retirement-eligible executives, vesting can be accelerated as needed to cover tax withholding, with the related vested shares disposed back to the company to satisfy those tax obligations.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
TAICLET JAMES D JR
Role
Chairman, President & CEO
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Restricted Stock Units | 8,803 | $0.00 | -- |
Holdings After Transaction:
Restricted Stock Units — 8,803 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 LMT CEO James Taiclet report on this Form 4?
James D. Taiclet Jr. reported receiving an award of 8,803 restricted stock units. These units are a form of equity compensation that can convert into the same number of Lockheed Martin common shares if vesting conditions are met.
How many restricted stock units were granted to the LMT CEO?
The CEO was granted 8,803 restricted stock units. Each restricted stock unit represents a contingent right to receive one share of Lockheed Martin common stock, subject to vesting and other conditions described in the award agreement.
When do the granted LMT restricted stock units vest for the CEO?
The restricted stock units vest on the third anniversary of the grant date. This means the CEO must remain eligible through that three-year period before the units convert into shares, except for certain tax-related accelerations described in the award.
Can vesting of the LMT CEO’s restricted stock units be accelerated?
Yes, vesting may be accelerated to the extent necessary to satisfy tax withholding obligations for retirement-eligible reporting persons. In that case, vested shares are disposed to Lockheed Martin to cover the executive’s tax withholding requirements under the award terms.
Does the CEO pay a purchase price for the 8,803 LMT restricted stock units?
No, the reported transaction price per restricted stock unit is 0.0000. This indicates the units were granted as equity compensation rather than purchased in an open-market transaction, consistent with a standard executive award structure.
How many restricted stock units does the LMT CEO hold after this award?
After this transaction, the CEO is shown holding 8,803 restricted stock units directly. This reflects the total reported derivative holdings following the grant, assuming no other derivative transactions are included in the same report.