Hollub Vicki A. 4

What Happened

• Vicki A. Hollub, a director of Lockheed Martin Corporation (LMT), was granted 260.504 phantom stock units on 2026-02-13 (reported on Form 4 filed 2026-02-18). The grant value was determined at $652.58 per unit, totaling roughly $170,000.
• These are derivative phantom stock units (an award), not an open-market purchase or sale. They convert one-for-one into common shares upon settlement and are generally considered routine director compensation rather than a direct market bet.

Key Details

• Transaction date: 2026-02-13; Form 4 filed: 2026-02-18 (5 days later).
• Award: 260.504 phantom stock units at $652.58 per unit (total ≈ $170,000).
• Vesting: 50% vests June 30 following the award date and 50% vests December 31 following the award date; accelerated vesting on retirement (age limit), death, disability, change in control, or partial upon failure to stand for reelection.
• Conversion/settlement: Phantom units convert 1-for-1 into common stock; settlement in cash or stock upon termination (directors meeting ownership guidelines may elect delayed payment).
• Exempt status: Award made under the Lockheed Martin Amended & Restated Directors Equity Plan and is reported as exempt under Rule 16b-3.
• Holdings: The filing notes holdings include additional acquisitions via dividend reinvestment; the Form 4 does not disclose total post-transaction ownership in this summary.
• Exhibits: Power of Attorney and Substitute Power of Attorney attached.

Context

• Phantom stock units are a form of deferred compensation for non-employee directors; they do not represent immediate sale or purchase of common stock and are typically granted as routine director pay.
• Because this is an award (derivative grant) rather than a purchase, it’s informational about compensation structure rather than a clear bullish or bearish signal from the insider.