Yarrington Patricia E 4

What Happened

• Patricia E. Yarrington, a non-employee director of Lockheed Martin (LMT), received an award of 260.504 phantom stock units on February 13, 2026. The award is reported at $652.58 per share, totaling roughly $170,000. This is an equity award (grant), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-02-13; Filing date: 2026-02-18 (filed within the Form 4 two-business-day window given the Presidents’ Day holiday).
• Security: Phantom stock units (derivative award that convert one-for-one into common stock). Reported acquisition code: A (award/grant).
• Grant price used in filing: $652.58 per share; 260.504 units × $652.58 ≈ $170,000.
• Vesting: 50% vests June 30 following the award and 50% vests December 31 following the award; accelerated vesting on retirement (due to age limit), death, disability, change in control, or partial vesting if director fails reelection (per plan).
• Settlement: Units settle in cash or stock at termination of service (director may elect stock if stock ownership guidelines are met and choose delayed payment).
• Exemption: Award granted under the Lockheed Martin Amended and Restated Directors Equity Plan and is exempt under Rule 16b-3.
• Holdings after transaction: Not specified in the summary; footnote notes holdings include additional acquisitions via dividend reinvestment.
• Filing attachments: Exhibits include Power of Attorney and Substitute Power of Attorney.

Context

• This is a routine director compensation grant (phantom stock units), not an open-market trade; such awards compensate directors and do not necessarily reflect trading sentiment. Phantom units are a derivative that convert one-for-one into common shares on settlement, subject to the plan’s vesting and payment rules.