BURRITT DAVID B 4

What Happened

• David B. Burritt, a director of Lockheed Martin Corporation (LMT), was granted 70.319 phantom stock units on March 31, 2026. The units were awarded as part of director compensation/fee deferral and were valued at $604.39 per share in the filing, implying an aggregate value of about $42,500. These are derivative awards (phantom units), not open-market purchases or sales.

Key Details

• Transaction date: 2026-03-31 (Form 4 filed 2026-04-02).
• Transaction type/code: Award/Grant (A) — phantom stock units (derivative).
• Units granted: 70.319 phantom stock units; per-footnote acquisition price: $604.39 per share (total ≈ $42,500).
• Conversion/settlement: Phantom units convert on a one-for-one basis to common stock but, per the plan, are settled in cash upon the director’s retirement or termination of service (director may elect stock/cash for certain awards per plan rules).
• Holdings after transaction: Not specified on the face of the filing; the filing notes holdings include additional acquisitions through dividend reinvestment.
• Timeliness: Filing was submitted on 2026-04-02 for a 2026-03-31 transaction (appears timely).

Context

• These phantom units are part of Lockheed Martin’s director compensation and deferral plans and are typically routine, non-market transactions that provide deferred value rather than an immediate equity position. Because they are settled in cash upon retirement/termination (unless the director elects otherwise under plan rules), they do not represent an immediate purchase of stock and should be viewed as compensation rather than a direct bullish or bearish insider trade.