Form 4: Lockheed Martin Executive Robert M. Lightfoot Jr. Reports Stock Transactions
SEC Form 4 Filing
Robert M. Lightfoot Jr., President Space at Lockheed Martin, reports acquisition and disposition of common stock and restricted stock units on February 23, 2025.
Summary
- On February 23, 2025, Robert M. Lightfoot Jr., President Space at Lockheed Martin, reported transactions involving Lockheed Martin common stock.
- Lightfoot acquired 6,184 shares of common stock upon settlement of performance stock units granted on February 23, 2022, at a price of $0.
- He also acquired 3,085 shares of common stock upon conversion of restricted stock units at $0.
- Lightfoot disposed of 4,056 shares to cover tax obligations at a price of $440.72 per share.
- Following these transactions, Lightfoot directly owns 5,213 shares of common stock and indirectly owns 197.0536 shares through the Lockheed Martin Salaried Savings Plan.
- The restricted stock units were granted on February 23, 2022, and vested on February 23, 2025.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing detailing stock transactions. It doesn't inherently convey positive or negative sentiment, but rather provides factual information.
Positives
- The acquisition of shares through performance stock units indicates that performance metrics were met during the performance cycle.
Negatives
- The disposition of shares to cover tax obligations reduces Lightfoot's overall holdings.
Industry Context
Executive stock transactions are a normal part of corporate governance and are routinely disclosed to the SEC. These transactions can be influenced by factors such as vesting schedules, performance-based compensation, and personal financial planning.
Comparison to Industry Standards
- Executive compensation packages in the aerospace and defense industry often include stock options, restricted stock units, and performance-based equity awards.
- Companies like Boeing, Northrop Grumman, and General Dynamics also have similar reporting requirements for executive stock transactions.
- The vesting schedules and performance metrics associated with these equity awards are typically aligned with the company's long-term strategic goals.
Stakeholder Impact
- The transactions have a minimal direct impact on stakeholders, as they represent routine executive compensation activities.
Key Dates
| Date | Description |
|---|---|
| 2019-11-01 | Debra L. Reed-Klages Power of Attorney date |
| 2020-01-16 | Frank A. St. John Power of Attorney date |
| 2020-01-24 | David B. Burritt, Bruce A. Carlson, Thomas J. Falk, Vicki A. Hollub, James D. Taiclet Power of Attorney date |
| 2020-02-10 | Joseph F. Dunford, Jr. Power of Attorney date |
| 2020-06-04 | Heather Wilson Power of Attorney date |
| 2020-06-11 | Stephanie C. Hill Power of Attorney date |
| 2020-11-29 | Gregory M. Ulmer Power of Attorney date |
| 2021-06-03 | Patricia E. Yarrington Power of Attorney date |
| 2021-10-26 | John M. Donovan Power of Attorney date |
| 2021-12-15 | Robert M. Lightfoot, Jr. Power of Attorney date |
| 2022-02-02 | Jesus Malave Power of Attorney date |
| 2022-02-23 | Grant date of 3,085 restricted stock units to Robert M. Lightfoot, Jr. |
| 2022-06-06 | H. Edward Paul III Power of Attorney date |
| 2022-09-30 | Timothy S. Cahill Power of Attorney date |
| 2023-06-27 | Maryanne R. Lavan Substitute Power of Attorney date |
| 2024-06-04 | Heather Wilson Power of Attorney date |
| 2024-12-11 | John C. Aquilino Power of Attorney date |
| 2025-02-18 | Date of Substitute Power of Attorney executed by John E. Stevens appointing Peter A. Christou as substitute attorney-in-fact. |
| 2025-02-23 | Date of stock transactions: acquisition of common stock from performance stock units and restricted stock units, disposition of shares for tax obligations. |
| 2025-02-23 | Vesting date of 3,085 restricted stock units granted on February 23, 2022. |
| 2025-02-25 | Date of signature for the report. |
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.