BURRITT DAVID B 4

What Happened
David B. Burritt, a director of Lockheed Martin Corporation (LMT), was credited with 83.422 phantom stock units on 2026-06-30 as an acquisition/award through a director retainer fee deferral. The units are valued at $509.46 each (per filing), totaling approximately $42,500. This was a compensation/deferral transaction (award), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-30; Form 4 filed 2026-07-02.
• Units received: 83.422 phantom stock units; price used for valuation: $509.46/unit; total ≈ $42,500.
• Instrument: Phantom stock units (derivative), not immediate common shares. Footnote F1: units convert to common stock on a one-for-one basis.
• Plan & settlement: Units were acquired under the Directors Deferred Compensation Plan (exempt under Section 16(b)); units are generally settled in cash upon the director’s retirement or termination of service (F2). Some previously granted director stock units under the Directors Equity Plan may be settled in cash or stock per the director’s election (F4).
• Holdings after transaction: Not explicitly stated in the filing; the filing notes holdings include additional acquisitions via dividend reinvestment (F3).
• Timeliness: Filing appears timely (transaction 6/30, filed 7/2); this is routine director compensation rather than a market trade.

Context
Phantom stock units are a form of deferred compensation that track share value but are typically settled in cash (or converted to stock per plan rules) at a later date. Such awards are common for non-employee directors and reflect compensation/retainer deferral choices rather than an insider expressing a buy/sell market view.