O'Connor Kevin J. 4

What Happened
Kevin J. O'Connor, Senior Vice President & General Counsel of Lockheed Martin (LMT), exercised/converted 5,285 derivative units into common shares on 2026-02-26. To satisfy the tax withholding on the settlement, 2,566 shares were surrendered to the issuer at an implied value of $641.63 per share, totaling $1,646,423. On 2026-02-25 he was also granted 1,992 restricted stock units (RSUs).

Key Details

• Transaction dates: Grant of 1,992 RSUs on 2026-02-25; conversion/exercise on 2026-02-26. Form filed 2026-02-27 (timely).
• Exercise/conversion: 5,285 derivative units converted to shares (reported as acquired at $0.00).
• Tax withholding/disposition: 2,566 shares surrendered at $641.63/share for $1,646,423 (exempt under Rule 16b-3 per footnote).
• Net increase from the conversion after withholding: +2,719 shares (5,285 acquired − 2,566 surrendered).
• Holdings after transaction: not explicitly stated on the form; footnote notes holdings include other acquisitions and 401(k) dividend reinvestment.
• Relevant footnotes: RSUs represent contingent rights to one share and convert one-for-one; certain RSUs granted Feb 26, 2025 referenced as economic equivalents; tax withholding disposition is routine and exempt under Rule 16b-3.

Context
This was not an open-market sale — shares were surrendered to the company to cover tax liabilities associated with a derivative settlement (a typical “sell-to-cover”/tax withholding event). The filing shows an award/grant of RSUs and a conversion; it does not indicate broader market intent. The Form 4 was filed promptly.