LMT Filings — Lockheed Martin Corporation - FilingSpy
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Lockheed Martin Corporation
A maker of fighter jets like the F-35 and F-16, missile-defense systems such as THAAD, Sikorsky helicopters, and the Orion spacecraft for NASA astronauts. Created in 1995 from the merger of Lockheed Corporation and Martin Marietta, the company's name traces to brothers Allan and Malcolm Loughead, who changed the spelling to match how people mispronounced their surname. Its secretive Skunk Works division got its name from the foul-smelling plastics factory beside its workshop, a joke drawn from the comic strip Li'l Abner.
Lockheed Martin enters $2.25B 364-day credit facility and extends 5-year revolver to 2031
On August 24, 2026, Lockheed Martin entered into a new $2.25 billion 364-day unsecured revolving credit facility, replacing its prior 364-day facility dated December 5, 2025, with no early termination penalties.
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The new 364-day facility matures on August 23, 2027, with an option to convert outstanding borrowings to non-revolving term loans for one additional year, payable August 23, 2028, subject to a 0.50% conversion fee.
Borrowings under the 364-day facility bear interest based on Base Rate, Term SOFR, Daily Simple SOFR, or a competitive bid process, with a Term SOFR Margin ranging from 0.585% to 1.085% per annum depending on credit ratings, and a facility fee of 0.04%.
Lockheed Martin also entered into an Extension Agreement extending its existing $3.0 billion 5-year revolving credit agreement's expiration date by one year, from August 24, 2030 to August 24, 2031.
The 364-day facility is for general corporate purposes, including supporting commercial paper borrowings, and no borrowings were made at closing.
1.01 Entry into a Material Definitive Agreement · 9.01 Financial Statements and Exhibits
Lockheed Martin stockholders elected 9 directors and approved say-on-pay and auditor ratification at the May 12, 2026 annual meeting.
At the May 12, 2026 annual meeting, 199,144,407 shares were represented, an 86.41% quorum of 230,462,118 outstanding shares.
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All nine director nominees were elected, including James D. Taiclet and Heather A. Wilson, with votes for each ranging from 143.0 million to 158.6 million.
Stockholders approved the advisory say-on-pay proposal with 148,179,585 votes for and 13,335,167 against.
Stockholders ratified Ernst & Young LLP as independent auditors for 2026 with 189,689,064 votes for.
A stockholder proposal requiring an independent board chairman was not approved, with 57,816,372 for and 103,555,181 against.
The report was filed under Item 5.07 to disclose the final voting results of these matters.
5.07 Submission of Matters to a Vote of Security Holders
Lockheed Martin reports Q4 2025 sales of $20.3B, full-year sales up 6% to $75.0B
Fourth quarter 2025 sales were $20.3 billion, up from $18.6 billion in Q4 2024; net earnings were $1.3 billion ($5.80 per share) versus $527 million ($2.22 per share) a year earlier.
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Full-year 2025 sales rose 6% to $75.0 billion; net earnings were $5.0 billion ($21.49 per share), including a $479 million pension settlement charge.
Cash from operations was $8.6 billion and free cash flow was $6.9 billion in 2025, after a $860 million pension contribution.
Lockheed Martin transfers ~$900M pension obligations to insurers, expects $480M charge
On December 16, 2025, Lockheed Martin executed buy-out conversions of group annuity contracts, transferring approximately $900 million of gross pension obligations to insurance companies.
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The conversions cover about 9,000 U.S. retirees and beneficiaries, with no change to the nature, amount, or timing of benefit payments.
No additional costs or funding contributions are required from Lockheed Martin as a result of the conversions.
The company expects to recognize a non-cash, non-operating pretax settlement charge of approximately $480 million in Q4 2025, reflecting accelerated recognition of actuarial losses.
The estimated charge was not included in the company's prior 2025 financial outlook released on October 21, 2025.
Lockheed Martin enters $3.0 billion 364-day revolving credit facility
The facility matures on December 4, 2026, with an option to extend outstanding borrowings as non-revolving term loans for one additional year to December 4, 2027.
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On December 5, 2025, Lockheed Martin entered into a $3.0 billion 364-day unsecured revolving credit agreement.
Borrowings bear interest at rates based on Base Rate, Term SOFR, Daily Simple SOFR, or a competitive bid process, with a Term SOFR Margin ranging from 0.585% to 1.085% per annum depending on credit ratings.
A facility fee of 0.04% per annum accrues on aggregate commitments, payable quarterly.
The facility supports general corporate purposes, including commercial paper borrowings; no borrowings were made at closing.
1.01 Entry into a Material Definitive Agreement · 9.01 Financial Statements and Exhibits