Wilson Heather A 4

What Happened

• Heather A. Wilson, a non-employee director of Lockheed Martin (LMT), was granted 260.504 phantom stock units on Feb 13, 2026.
• The phantom units were issued at $652.58 per share (total value ≈ $170,000) and are derivative awards that convert one-for-one into common stock (F1). This is an award/grant (transaction code A), not a market purchase or sale.

Key Details

• Transaction date: 2026-02-13; Form 4 filed: 2026-02-18 (filed within the required two business days).
• Award size and price: 260.504 phantom units at $652.58 per unit (≈ $169,999.70).
• Vesting: 50% vests on June 30 following the award date and 50% on December 31 following the award date. Unvested awards vest in full on retirement (age limit), death, disability, or change in control; one-third vests if the director fails to stand for reelection (F2).
• Settlement: Units convert to shares one-for-one on settlement; payment may be made in cash or stock as elected by the director. Directors meeting ownership guidelines can elect payment on the first business day of April following vesting (F2).
• Exemption and compliance: Award is exempt under Rule 16b-3 per the Directors Equity Plan (F2).
• Holdings after transaction: The filing does not list a post-transaction total; it notes holdings as of the reportable date include additional acquisitions via dividend reinvestment (F3).

Context

• This is routine director compensation (phantom stock award) rather than an open-market buy or sale; such awards are common and typically reflect compensation policy rather than an insider trading signal.
• Because these are derivative phantom units with standard vesting and settlement provisions, the grant should not be interpreted as an immediate purchase of shares.