Lockheed Martin (LMT) Director John Donovan Receives 96.956 Phantom Units

What Happened John Donovan, a non-employee director of Lockheed Martin Corporation (LMT), was granted 96.956 phantom stock units on 2026-09-30 (transaction code A — award/grant). The units were credited under a director retainer fee deferral arrangement and, per the filing, are valued at $509.25 per unit — roughly $49,375 in aggregate. These are derivative awards (phantom units) rather than open-market purchases or sales.

Key Details

• Transaction date: 2026-09-30; Form 4 filed: 2026-10-01 (timely filing).
• Instrument: 96.956 phantom stock units (derivative award, code A).
• Per-unit reference value in filing: $509.25, aggregate ≈ $49,375 (footnote F2).
• Conversion/settlement: Phantom units convert one-for-one to common stock (F1) but, under the director fee deferral plan, units are settled in cash upon the director’s retirement or termination (F2).
• Holdings after transaction: not explicitly stated in total; filing notes holdings include additional acquisitions through dividend reinvestment (F3).
• Plan details: some previously granted director stock units (Amended and Restated Directors Equity Plan) may be settled in cash or stock depending on elections and ownership guideline status (F4).

Context This was a compensation-related grant (phantom units) to a director, not a market buy or sale — such awards are routine for non-employee directors and do not by themselves signal a trading decision. Because these phantom units are generally paid in cash upon exit, they function differently than immediately vested common shares. The filing appears timely and contains standard disclosure about settlement and plan mechanics.