X0303 4 2011-01-27 0000936468 LOCKHEED MARTIN CORP LMT 0001411075 Tanner Bruce L 6801 ROCKLEDGE DRIVE BETHESDA MD 20817 1 Executive VP & CFO Phantom Stock Units 2011-01-27 4 A 0 4577.3137 A Common Stock 4577.3137 5834.5729 I Lockheed Martin LTIP Phantom Stock Units Common Stock 1915.9897 1915.9897 I LM Supplemental SSP Phantom Stock Units Common Stock 4834.4994 4834.4994 I Lockheed Martin DMICP The phantom stock units convert on a 1-for-1 basis. Phantom stock units acquired and subject to mandatory deferral under the Lockheed Martin Long Term Incentive Plan exempt under Section 16(b) at $69.91 which will be settled in cash after two years subject to continued employment, unless voluntarily deferred (in which case, the units will be settled in stock upon the reporting person's retirement or termination of service). End of period holdings include additonal phantom stock units acquired through dividend reinvestment under the Plan. Phantom stock units previously acquired under the Lockheed Martin Supplemental Salaried Savings Plan exempt under Section 16(b) and will be settled upon the reporting person's retirement or termination of service. Phantom stock units previously acquired under the Lockheed Martin Deferred Management Incentive Compensation Plan exempt under Section 16(b) which will be settled in stock upon the reporting person's retirement or termination of service. Bruce L. Tanner, by David A. Dedman, Attorney-in-Fact 2011-01-31