Form 4: Lockheed Martin Director David B. Burritt Reports Changes in Beneficial Ownership

Director David B. Burritt reports acquisition of phantom stock units through director fee deferral and holdings in deferred compensation and equity plans.

Summary

• David B. Burritt, a director at Lockheed Martin, filed a Form 4 detailing changes in his beneficial ownership of company securities.
• The report indicates the acquisition of 93.4333 phantom stock units at $454.87 per share through director retainer fee deferral under the Lockheed Martin Corporation Directors Deferred Compensation Plan.
• Burritt also holds 10,000.0414 phantom stock units in the Lockheed Martin Directors Deferred Comp Plan and 12,632.4992 phantom stock units in the Lockheed Martin Directors Equity Plan.
• These phantom stock units convert to common stock on a one-for-one basis and are settled in cash or stock upon the director's retirement or termination of service.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects a director's continued investment in the company, indicating confidence. However, it's a routine filing and doesn't necessarily signal a major shift in the company's prospects.

Positives

• The director's continued investment in phantom stock units demonstrates confidence in the company's future performance.

Future Outlook

Settlement of phantom stock units in cash or stock upon retirement or termination of service.

Industry Context

This filing is a routine disclosure related to executive compensation and stock ownership, common in publicly traded companies.

Comparison to Industry Standards

• Director compensation structures involving phantom stock units are common among large publicly traded companies like Lockheed Martin.
• These plans are designed to align the interests of directors with those of shareholders by providing them with a stake in the company's long-term performance.
• Companies such as Boeing, General Dynamics, and Northrop Grumman also utilize similar equity-based compensation plans for their directors.

Stakeholder Impact

• The filing provides transparency to shareholders regarding the director's stake in the company.
• It assures stakeholders that directors' interests are aligned with shareholders.

Key Dates