X0202 4 2008-01-15 0000936468 LOCKHEED MARTIN CORP LMT 0001335013 Loy James M 6801 ROCKLEDGE DRIVE BETHESDA MD 20817 1 0 0 0 Phantom Stock Units 2008-01-15 4 A 0 1029.8662 106.81 A Common Stock 1029.8662 4108.4817 I Lockheed Martin Directors Equity Plan The phantom stock units convert on a 1 for 1 basis. Under the Lockheed Martin Corporation Directors Equity Plan, each non-employee director elects to receive an award of stock options or phantom stock units or a combination of stock options and phantom stock units in accordance with the plan, which awards are exempt transactions under Rule 16b-3. The phantom stock units vest on the first anniversary of the grant date or, if earlier, upon retirement, death or disability. Settlement in cash or stock (as elected by the director) occurs upon the reporting person's retirement or termination of service. End of period holdings include phantom stock units acquired through dividend reinvestment. James M. Loy, by David A. Dedman, Attorney-in-fact 2008-01-17