SEC Form 4 · accession 0001225208-16-025380
LOCKHEED MARTIN CORP · LMT
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Brian P Colan
Officer — VP & Controller
Period of report
Jan 28, 2016
Accepted (ET)
Feb 2, 2016 · 6:29 am EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000936468
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Jan 28, 2016 | M | 1,260 | $0.00 | A | 1,260 | D | |
| Common StockF2 | Jan 28, 2016 | A | 568 | $0.00 | A | 1,828 | D | |
| Common StockF3 | Jan 28, 2016 | F | 624 | $206.66 | D | 1,204 | D | |
| Common StockF4 | holding | — | — | — | 314 | I | Lockheed Martin Salaried Savings Plan |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitsF5 | — | Jan 28, 2016 | M | 1,260 | D | — | Jan 28, 2016 | Common Stock | 1,260 | 0 | D |
| Restricted Stock UnitsF5,F6 | — | Jan 28, 2016 | A | 1,453 | A | — | Jan 28, 2019 | Common Stock | 1,453 | 1,453 | D |
Explanation of responses
- F1Each restricted stock unit granted on January 28, 2013 was the economic equivalent of one share of LMT common stock.
- F2Represents shares acquired upon settlement of performance stock units (PSUs) granted on January 28, 2013 following the end of a three-year performance period 2013-2015 (Performance Cycle). The amount earned during the Performance Cycle is based on the satisfaction of performance against three separate financial metrics. The shares of common stock were acquired at $206.66 per share based on the LMT closing price on January 28, 2016.
- F3Disposition to the Issuer of shares to satisfy the Reporting Person's tax withholding obligation upon vesting of restricted stock units which is exempt under Rule 16b-3.
- F4End of period holdings include additional shares acquired through dividend reinvestment.
- F5Each restricted stock unit represents a contingent right to receive one share of LMT common stock.
- F6Award of restricted stock units which vests on the third anniversary of the grant date. In accordance with the award agreement, vesting will be accelerated to the extent necessary to satisfy tax withholding obligations for retirement-eligible Reporting Persons and such vested shares shall be disposed to the Issuer for the purposes of satisfying the Reporting Person's tax withholding obligations, which is an exempt transaction under Rule 16b-3. Tax withholding is required following certification of a one-year performance goal for a retirement-eligible Reporting Person or when the Reporting Person becomes retirement-eligible, if later.