Form 4: Lockheed Martin Director Aquilino Receives Phantom Stock Units
SEC Form 4 Filing
Director John C. Aquilino received phantom stock units in Lockheed Martin Corporation under the company's Amended and Restated Directors Equity Plan.
Summary
- John C. Aquilino, a director of Lockheed Martin Corporation, reported a transaction involving phantom stock units.
- The transaction occurred on February 14, 2025.
- Aquilino acquired 401.7108 phantom stock units.
- These units were awarded under the Lockheed Martin Corporation Amended and Restated Directors Equity Plan and are exempt under Rule 16b-3.
- The phantom stock units were acquired at $423.19 per share.
- The units vest 50% on June 30 following the award date and 50% on December 31 following the award date.
- Settlement in cash or stock (as elected by the director) will occur upon the Reporting Person's termination of service.
- Peter A. Christou is acting as attorney-in-fact for John C. Aquilino.
Sentiment
Score: 7
Explanation: The document reflects a routine director compensation matter, which is generally viewed neutrally to positively as it aligns director interests with shareholder value. The sentiment is moderately positive.
Positives
- The award of phantom stock units aligns the director's interests with those of the shareholders.
- The vesting schedule encourages long-term commitment from the director.
Future Outlook
The phantom stock units will vest over time, aligning the director's compensation with the company's long-term performance.
Industry Context
Granting equity to directors is a common practice to align their interests with those of shareholders and incentivize long-term value creation.
Comparison to Industry Standards
- Lockheed Martin's director compensation practices, including the use of phantom stock units, are generally in line with those of other large publicly traded companies in the aerospace and defense industry.
- Companies like Boeing, Northrop Grumman, and General Dynamics also utilize equity-based compensation to incentivize their directors.
- The specific terms of the equity grants, such as vesting schedules and performance metrics, can vary depending on the company's specific circumstances and compensation philosophy.
Stakeholder Impact
- The award of phantom stock units to a director can positively impact shareholders by aligning the director's interests with the company's long-term success.
Key Dates
| Date | Description |
|---|---|
| January 24, 2020 | Date of Power of Attorney for David B. Burritt, Bruce A. Carlson, Thomas J. Falk, Vicki A. Hollub, James D. Taiclet, Frank A. St. John |
| February 10, 2020 | Date of Power of Attorney for Joseph F. Dunford, Jr. |
| June 11, 2020 | Date of Power of Attorney for Stephanie C. Hill |
| November 29, 2020 | Date of Power of Attorney for Gregory M. Ulmer |
| June 3, 2021 | Date of Power of Attorney for Patricia E. Yarrington |
| 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 |
| June 6, 2022 | Date of Power of Attorney for H. Edward Paul III |
| September 30, 2022 | Date of Power of Attorney for Timothy S. Cahill |
| June 27, 2023 | Date of the Stevens 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 14, 2025 | Transaction date for the acquisition of phantom stock units. |
| February 18, 2025 | Date of Substitute Power of Attorney execution. |
| February 19, 2025 | Date of signature for the Form 4 filing. |
Keywords
Lockheed Martin, Director, Aquilino, Phantom Stock Units, Equity Plan, Form 4, LMT, Beneficial Ownership
Disclaimer:The information provided here is for general informational purposes only and does not constitute financial advice, recommendation, or endorsement of any kind. It may contain errors or omissions. You should not rely on this information to make financial decisions. Always seek the advice of a qualified financial professional before making any investment or financial decisions. Use of this information is at your own risk.