Form 4: Lockheed Martin CFO Jesus Malave Jr. Reports Changes in Beneficial Ownership
SEC Form 4 Filing
Jesus Malave Jr., CFO of Lockheed Martin, reports acquisition and disposal of common stock and restricted stock units.
Summary
- On February 23, 2025, Jesus Malave Jr., Chief Financial Officer of Lockheed Martin, reported changes in beneficial ownership of the company's stock.
- Malave acquired 12,364 shares of common stock upon settlement of performance stock units granted on February 23, 2022, at a price of $0 per share.
- He also acquired 6,171 shares of common stock upon conversion of restricted stock units at $0 per share.
- Additionally, 8,953 shares were disposed of to satisfy tax withholding obligations at a price of $440.72 per share.
- Following these transactions, Malave directly owns 15,035.003 shares of common stock and indirectly owns 86.5353 shares through the Lockheed Martin Salaried Savings Plan.
- The reported transactions also involved restricted stock units that convert to common stock on a one-for-one basis, with 6,171 units vesting on February 23, 2025.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The transactions are part of standard compensation practices. There is no indication of significant positive or negative sentiment.
Positives
- The acquisition of shares indicates confidence in the company's performance.
Negatives
- The disposition of shares to cover tax obligations, while routine, reduces the overall holdings.
Risks
- There are no specific risks mentioned in this document.
Industry Context
Form 4 filings are standard practice for corporate insiders to report changes in their ownership of company stock, providing transparency to investors.
Comparison to Industry Standards
- Monitoring insider transactions is a common practice in financial analysis to gauge management's sentiment and potential future performance.
- Comparing the CFO's transactions with those of peers at companies like Boeing (BA) or General Dynamics (GD) can provide insights into relative valuation and outlook.
- The vesting of restricted stock units and performance stock units is a typical component of executive compensation packages in the aerospace and defense industry, aligning management's interests with shareholder value.
Stakeholder Impact
- The transactions have a minor impact on shareholders as they reflect routine compensation and tax-related activities.
Key Dates
| Date | Description |
|---|---|
| November 1, 2019 | Date of Power of Attorney for Debra L. Reed-Klages |
| January 16, 2020 | Date of Power of Attorney for Frank A. St. John |
| January 24, 2020 | Date of Power of Attorney for David B. Burritt, Bruce A. Carlson, Thomas J. Falk, Vicki A. Hollub, and James D. Taiclet |
| February 10, 2020 | Date of Power of Attorney for Joseph F. Dunford, Jr. |
| November 29, 2020 | Date of Power of Attorney for Gregory M. Ulmer |
| October 26, 2021 | Date of Power of Attorney for John M. Donovan |
| December 15, 2021 | Date of Power of Attorney for Robert M. Lightfoot, Jr. |
| February 2, 2022 | Date of Power of Attorney for Jesus Malave |
| September 30, 2022 | Date of Power of Attorney for Timothy S. Cahill |
| June 6, 2022 | Date of Power of Attorney for H. Edward Paul III |
| June 3, 2021 | Date of Power of Attorney for Patricia E. Yarrington |
| June 11, 2020 | Date of Power of Attorney for Stephanie C. Hill |
| June 27, 2023 | Date of Substitute Power of Attorney from Maryanne R. Lavan |
| June 4, 2024 | Date of Power of Attorney for Heather Wilson |
| December 11, 2024 | Date of Power of Attorney for John C. Aquilino |
| February 18, 2025 | Date of Substitute Power of Attorney execution by John E. Stevens |
| February 23, 2022 | Date of grant for 6,171 restricted stock units that vested on the third anniversary of the grant date. |
| February 23, 2025 | Date of reported transactions: acquisition of common stock from performance stock units and restricted stock units, and disposition of shares for tax obligations. |
| February 25, 2025 | Date of signature for the report. |
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