Donovan John 4

What Happened

• John Donovan, a director of Lockheed Martin (LMT), was granted 81.694 phantom stock units on 2026-03-31. The units are reported as a derivative award (code A) and were recorded at $604.39 per unit, representing an aggregate value of about $49,375.
• This was an award via director compensation deferral (not an open-market purchase or sale) and does not represent an immediate transfer of tradable common shares.

Key Details

• Transaction date: 2026-03-31; per-unit reference value: $604.39; total value ≈ $49,375.
• Reported as 81.694 derivative units (phantom stock); Form 4 lists the transaction as a grant/award (A).
• Footnotes:
  • F1: Phantom stock units convert to common stock on a one-for-one basis.
  • F2: These particular units were acquired through director retainer fee deferral under the Directors Deferred Compensation Plan and are settled in cash upon the director’s retirement or termination.
  • F3: Holdings as of the reportable date include additional acquisitions through dividend reinvestment.
  • F4: Some prior director awards may be settled in cash or stock per plan election; post-2018 awards may be paid the April after vesting if ownership guidelines are met.
• Shares owned after the transaction are not specified on the filing; the grant appears to be routine director compensation rather than a market trade.
• Filing appears timely (transaction 2026-03-31; Form 4 filed 2026-04-02).

Context

• These phantom units are derivative compensation tied to LMT’s stock value; they are not immediately tradable shares and are typically settled in cash for awards under the deferral plan.
• Awards to non-employee directors are common and generally reflect routine compensation rather than a directional insider bet on the stock.