Lockheed Martin (LMT) Director John Donovan Receives Award

What Happened

• John Donovan, a director of Lockheed Martin Corporation (LMT), was granted 96.916 phantom stock units (reported as a derivative award) on 2026-06-30. The units were valued at $509.46 each, giving a notional value of roughly $49,375. This was an award/compensation grant (transaction code A), not an open-market purchase or sale.

Key Details

• Transaction date: 2026-06-30; Form 4 filed 2026-07-02 (appears timely under the SEC two-business-day rule).
• Grant: 96.916 phantom stock units at $509.46 per unit (notional ≈ $49.4K).
• Instrument: Phantom stock units / derivative award (convertible one-for-one to common stock per footnote F1, but these units under the director retainer deferral are settled in cash upon retirement or termination per F2).
• Holdings after transaction: Filing does not list a total post-transaction share count; footnote F3 indicates reported holdings include dividend reinvestment.
• Additional plan detail: Previously acquired director stock units under the Directors Equity Plan may be settled in cash or stock at retirement/termination (director election) and non-employee directors meeting ownership guidelines may elect an April payment timing for awards granted on/after Jan 1, 2018 (see F4).

Context

• These phantom stock units are a form of deferred director compensation rather than an equity purchase — they typically reflect routine pay and are settled in cash (or, depending on the plan and election, cash or stock) when the director leaves service. Such awards are common for non-employee directors and do not, by themselves, indicate a buy or sell signal in the market.