LMT.NYSELockheed Martin CORP
Form 4: Lockheed Martin Executive Gregory Ulmer Reports Stock Transactions
Sentiment:
SEC Form 4
Gregory Ulmer, President of Aeronautics at Lockheed Martin, reports acquisition and disposition of common stock and restricted stock units.
Summary
- Gregory M. Ulmer, President of Aeronautics at Lockheed Martin, filed a Form 4 detailing changes in beneficial ownership of company stock.
- On February 23, 2025, Ulmer acquired 6,184 shares of common stock upon settlement of performance stock units and 2,974 shares upon conversion of restricted stock units.
- He also disposed of 3,538 shares to cover tax obligations related to the vesting of stock units at a price of $440.72 per share.
- Following these transactions, Ulmer directly owns 5,620 shares of common stock and indirectly owns 88.1829 shares through the Lockheed Martin Salaried Savings Plan.
- He also holds 0.0000 derivative securities.
- The transactions were executed pursuant to Rule 16b-3, which exempts dispositions to the issuer for tax withholding purposes.
Sentiment
Score: 6
Explanation: The sentiment is neutral. The transactions are part of a standard compensation plan and do not indicate any significant positive or negative outlook.
Positives
- Ulmer's acquisition of shares through performance and restricted stock units indicates confidence in the company's performance.
- The vesting of restricted stock units is part of a pre-determined compensation plan.
Negatives
- The disposition of shares to cover tax obligations, while routine, slightly reduces Ulmer's direct holdings.
Risks
- There are no specific risks highlighted in this document.
- However, executive stock transactions can sometimes be interpreted as a reflection of the executive's sentiment about the company's future prospects.
Industry Context
Executive stock transactions are common in publicly traded companies and are closely monitored by investors for insights into management's view of the company's prospects.
Comparison to Industry Standards
- Executive compensation packages at Lockheed Martin, like those at other large defense contractors such as Boeing, Northrop Grumman, and General Dynamics, typically include a mix of salary, stock options, restricted stock units, and performance-based incentives.
- The vesting of restricted stock units and settlement of performance stock units are standard components of executive compensation plans designed to align management's interests with those of shareholders.
- Tax-related dispositions of shares are a routine part of these transactions and are generally handled in accordance with Rule 16b-3 to ensure compliance with insider trading regulations.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders.
- They reflect the ongoing compensation arrangements for company executives.
Key Dates
| Date | Description |
|---|---|
| 2019-11-01 | Date of Power of Attorney for Debra L. Reed-Klages |
| 2020-01-16 | Date of Power of Attorney for Frank A. St. John |
| 2020-01-24 | Date of Power of Attorney for David B. Burritt, Bruce A. Carlson, Thomas J. Falk, Vicki A. Hollub, and James D. Taiclet |
| 2020-02-10 | Date of Power of Attorney for Joseph F. Dunford, Jr. |
| 2020-06-03 | Date of Power of Attorney for Patricia E. Yarrington |
| 2020-06-04 | Date of Power of Attorney for Heather Wilson |
| 2020-06-11 | Date of Power of Attorney for Stephanie C. Hill |
| 2020-11-29 | Date of Power of Attorney for Gregory M. Ulmer |
| 2021-10-26 | Date of Power of Attorney for John M. Donovan |
| 2021-12-15 | Date of Power of Attorney for Robert M. Lightfoot, Jr. |
| 2022-02-02 | Date of Power of Attorney for Jesus Malave |
| 2022-02-23 | Grant date of 3,085 restricted stock units, the remaining unvested portion of which vested on the third anniversary of the grant date. |
| 2022-06-06 | Date of Power of Attorney for H. Edward Paul III |
| 2022-09-30 | Date of Power of Attorney for Timothy S. Cahill |
| 2023-06-27 | Date of the Stevens Substitute Power of Attorney from Maryanne R. Lavan |
| 2024-12-11 | Date of Power of Attorney for John C. Aquilino |
| 2025-02-18 | Date of execution of the Substitute Power of Attorney by John E. Stevens |
| 2025-02-23 | Date of transactions: acquisition of common stock and restricted stock units, disposition of shares for tax obligations. |
| 2025-02-25 | Date of signature for the report. |
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