X0306 4 2019-12-02 0000936468 LOCKHEED MARTIN CORP LMT 0001225947 REED DEBRA L 6801 ROCKLEDGE DRIVE BETHESDA MD 20817 1 Phantom Stock Units 2019-12-02 4 A 0 67.3410 A Common Stock 67.3410 67.3410 I Lockheed Martin Directors Equity Plan Each share of phantom stock is the economic equivalent of one share of Lockheed Martin Corporation common stock. In accordance with the Lockheed Martin Corporation Directors' Equity Plan, the Reporting Person received a prorated award of phantom stock units, which award is exempt under Rule 16b-3. The phantom stock units were acquired at $383.62 per share and vest on December 31, 2019, 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, except that non-employee directors who have satisfied our stock ownership guidelines may elect to have payment begin on March 30 following vesting of the award. Debra L. Reed-Klages, by Kerri R. Morey, as Attorney-in-fact 2019-12-04