Aquilino John C 4

What Happened
John C. Aquilino, a non-employee director of Lockheed Martin (LMT), was granted 260.504 phantom stock units on 2026-02-13. Each unit converts one-for-one into common stock and the award was valued at $652.58 per unit (total value ≈ $169,998). This was a grant of derivative awards (phantom shares), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-02-13; Form 4 filed: 2026-02-18.
• Award: 260.504 phantom stock units; per-unit value: $652.58; approximate total value: $169,998.
• Vesting: 50% vests on the June 30 following the award date and 50% on the December 31 following the award date. Unvested awards vest in full upon retirement due to age rules, death, disability, change in control, or partially if the director fails to stand for reelection.
• Conversion/settlement: Phantom units convert 1-for-1 into common shares; settlement may be in cash or stock as elected by the director (special timing rules apply for directors meeting stock ownership guidelines).
• Exemption: Award granted under the Lockheed Martin Amended and Restated Directors Equity Plan and is exempt under Rule 16b-3.
• Holdings note: Reported holdings as of the transaction date include additional acquisitions via dividend reinvestment (per filer footnote).

Context
Phantom stock unit grants are a common form of director compensation and do not involve an immediate cash purchase by the insider. They represent a future right to receive company stock (or cash equivalent) and are typically used to align director interests with shareholders. This filing documents the grant and the vesting/settlement mechanics; it does not indicate an open-market buy or sell.