Form 4: Lockheed Martin Director Hollub Acquires Phantom Stock Units Through Deferred Compensation
SEC Form 4 Filing
Director Vicki A. Hollub acquired phantom stock units in Lockheed Martin through a director retainer fee deferral plan.
Summary
- Vicki A. Hollub, a director at Lockheed Martin, reported changes in beneficial ownership on April 2, 2024.
- The transactions involved the acquisition of phantom stock units through the Lockheed Martin Corporation Directors Deferred Compensation Plan.
- 93.4333 phantom stock units were acquired at $454.87 per share on March 28, 2024.
- Hollub also holds 2,133.1354 phantom stock units through the Lockheed Martin Directors Deferred Comp Plan and 3,053.983 phantom stock units through the Lockheed Martin Directors Equity Plan.
- These units convert to common stock on a one-for-one basis and are settled in cash or stock upon retirement or termination of service.
Sentiment
Score: 6
Explanation: The document is a routine regulatory filing, indicating standard executive compensation practices. It doesn't contain information that would significantly sway investor sentiment positively or negatively.
Positives
- The director's continued investment in phantom stock units may signal confidence in the company's future performance.
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 packages often include stock or stock-based awards to align executive interests with shareholder value.
- Deferred compensation plans are a common tool for executives to manage their tax liabilities and retirement savings.
- Lockheed Martin's executive compensation practices are likely benchmarked against those of its peers in the aerospace and defense industry, such as Boeing, Northrop Grumman, and General Dynamics.
Stakeholder Impact
- The transaction has a minimal direct impact on stakeholders.
- It reflects the company's compensation policies for directors.
Key Dates
| Date | Description |
|---|---|
| 03/28/2024 | Transaction date for the acquisition of phantom stock units. |
| 04/02/2024 | Date of the Form 4 filing. |
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.