Form 4: Lockheed Martin COO Transfers Funds Within Savings Plan

Frank A. St John, Lockheed Martin's Chief Operating Officer, executed an intra-plan transfer within the company's salaried savings plan on April 25, 2024.

Summary

• On April 25, 2024, Frank A. St John, the Chief Operating Officer of Lockheed Martin, executed an intra-plan transfer of funds held in the company stock fund to another investment option within the Lockheed Martin Salaried Savings Plan.
• This transaction is exempt under Rule 16b-3(f) as a discretionary transaction.
• The disposition was valued at $464.78, the closing price of LMT on the date of transfer.
• St John also holds phantom stock units in the Lockheed Martin Supplemental Savings Plan and the Deferred Management Incentive Compensation Plan, which convert to common stock on a one-for-one basis and will be settled in cash or stock upon retirement or termination of service.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing related to an executive's investment activity within the company's savings plan. It doesn't convey any particularly positive or negative sentiment.

Future Outlook

The phantom stock units will be settled in cash or stock upon the Reporting Person's retirement or termination of service.

Industry Context

This filing is a routine disclosure related to executive compensation and investment activity, and it doesn't necessarily indicate a significant trend within the aerospace and defense industry.

Comparison to Industry Standards

• Executive compensation packages often include phantom stock units as a way to align management's interests with those of shareholders.
• Companies like Boeing, General Dynamics, and Northrop Grumman also utilize similar deferred compensation plans for their executives.
• These plans are designed to incentivize long-term performance and retention.

Stakeholder Impact

• The transaction has minimal direct impact on shareholders, employees, customers, suppliers, or creditors, as it is a personal financial decision of the COO within the scope of his compensation package.

Key Dates