Form 4: Lockheed Martin COO Frank St John Reports Stock Transactions
SEC Form 4 Filing
Lockheed Martin's Chief Operating Officer, Frank St John, reports the acquisition and disposal of company stock and restricted stock units on February 25, 2024.
Summary
- Frank St John, Chief Operating Officer of Lockheed Martin, reported transactions involving Lockheed Martin common stock and restricted stock units on February 25, 2024.
- He acquired 7,084 shares of common stock upon settlement of performance stock units granted on February 25, 2021, at a price of $0.
- He also acquired 4,629 shares of common stock upon conversion of restricted stock units at a price of $0.
- St John disposed of 5,174 shares to cover tax obligations related to the vesting of stock units at a price of $431.12.
- Following these transactions, St John directly owns 6,648.054 shares of common stock and indirectly owns 8.2701 shares through the Lockheed Martin Salaried Savings Plan.
- He also converted 4,629 restricted stock units into common stock.
Sentiment
Score: 5
Explanation: The document is a standard regulatory filing detailing stock transactions, with no inherent positive or negative sentiment. It's a factual report of insider trading activity.
Industry Context
This Form 4 filing is a routine disclosure of insider transactions, providing transparency into the trading activities of Lockheed Martin's top executives. It's a standard practice for publicly traded companies and their officers.
Comparison to Industry Standards
- Form 4 filings are standard practice across all publicly traded companies, including Lockheed Martin's competitors such as Boeing, Northrop Grumman, and General Dynamics.
- The transactions reported are typical for executive compensation, involving the vesting of stock units and subsequent tax-related dispositions, similar to what is seen with executive compensation packages at Raytheon Technologies and L3Harris Technologies.
Stakeholder Impact
- The transactions have a minimal direct impact on shareholders, employees, customers, suppliers, and creditors.
- The filing provides transparency to shareholders regarding executive compensation and stock ownership.
Key Dates
| Date | Description |
|---|---|
| 02/25/2021 | Grant date of performance stock units and restricted stock units. |
| 02/25/2024 | Date of stock transactions and vesting of restricted stock units. |
| 02/27/2024 | Date of signature by attorney-in-fact. |
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