X0306 4 2016-02-01 0000936468 LOCKHEED MARTIN CORP LMT 0001083217 KING GWENDOLYN S 6801 ROCKLEDGE DRIVE BETHESDA MD 20817 1 Phantom Stock Units 2016-02-01 4 A 0 230.3782 A Common Stock 230.3782 30431.3823 I Lockheed Martin Directors Equity Plan Phantom Stock Units Common Stock 1530.1518 1530.1518 I Lockheed Martin Directors Deferred Stock Plan The phantom stock units convert on a 1-for-1 basis. Under the Lockheed Martin Corporation 2009 Directors' Equity Plan, each non-employee director elects to receive an award of phantom stock units in accordance with the plan, which award is exempt under Rule 16b-3. The phantom stock units were acquired at $209.80 per share and vest 50% on June 30 following the award date and 50% on December 31 following the award date or, if earlier, upon retirement, death, disability or change in control. Settlement in cash or stock (as elected by the director) will occur upon the Reporting Person's retirement or termination of service. End of period holdings include phantom stock units acquired through dividend reinvestment. Phantom stock units previously acquired under the Plan exempt under Section 16(b). Units are settled upon the Reporting Person's retirement or termination of service. Gwendolyn S. King, by Marian S. Block, Attorney-in-fact 2016-02-03