LMT 10-K Annual Report Dec. 31, 2020 | Alphaminr
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LMT 10-K Fiscal year ended Dec. 31, 2020

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LOCKHEED MARTIN CORP
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TABLE OF CONTENTS
Part IItem 1. BusinessItem 1A. Risk FactorsItem 1B. Unresolved Staff CommentsItem 2. PropertiesItem 3. Legal ProceedingsItem 4. Mine Safety DisclosuresItem 4(a). Information About Our Executive OfficersPart IIItem 5. Market For Registrant S Common Equity, Related Stockholder Matters and Issuer Purchases Of Equity SecuritiesItem 6. Selected Financial DataItem 7. Management S Discussion and Analysis Of Financial Condition and Results Of OperationsItem 7A. Quantitative and Qualitative Disclosures About Market RiskItem 8. Financial Statements and Supplementary DataNote 1 Significant Accounting PoliciesNote 2 Strategic ActionNote 3 Earnings Per ShareNote 4 Goodwill and Acquired IntangiblesNote 5 Information on Business SegmentsNote 6 Receivables, Net, Contract Assets and Contract LiabilitiesNote 7 InventoriesNote 8 Property, Plant and Equipment, NetNote 9 LeasesNote 10 Income TaxesNote 11 DebtNote 12 Postretirement Benefit PlansNote 13 Stockholders EquityNote 14 Stock-based CompensationNote 15 Legal Proceedings, Commitments and ContingenciesNote 16 Severance ChargesNote 17 Fair Value MeasurementsNote 18 Summary Of Quarterly Information (unaudited)Item 9. Changes in and Disagreements with Accountants on Accounting and Financial DisclosureItem 9A. Controls and ProceduresItem 9B. Other InformationPart IIIItem 10. Directors, Executive Officers and Corporate GovernanceItem 11. Executive CompensationItem 12. Security Ownership Of Certain Beneficial Owners and Management and Related Stockholder MattersItem 13. Certain Relationships and Related Transactions, and Director IndependenceItem 14. Principal Accounting Fees and ServicesPart IVItem 15. Exhibits and Financial Statement SchedulesItem 16. Form 10-k Summary

Exhibits

2.1 Agreement and Plan of Merger by and among Lockheed Martin Corporation, Mizar Sub, Inc. and Aerojet Rocketdyne Holdings, Inc., dated as of December 20, 2020 (incorporated by reference to Exhibit 2.1 to Lockheed Martin Corporations Current Report on Form 8-K filed with the SEC on December 21, 2020).The schedules and exhibits to the Merger Agreement have been omitted pursuant to Item 601(a)(5) of Regulation S-K, and such schedules and exhibits will be furnished to the SEC upon request. 3.1 Charter of Lockheed Martin Corporation, as amended by Articles of Amendment dated April23, 2009 (incorporated by reference to Exhibit 3.1 to Lockheed Martin Corporations Annual Report on Form 10-K for the year ended December 31, 2010). 3.2 Bylaws of Lockheed Martin Corporation, as amended and restated effective April 8, 2020 (incorporated by reference to Exhibit 3.1 to Lockheed Martin Corporations Current Report on Form 8-K filed with the SEC on April 9, 2020). 4.1 Description of Lockheed Martin Corporation Common Stock (incorporated by reference to Exhibit 4.1 to Lockheed Martin Corporations Annual Report on Form 10-K for the year ended December 31, 2019). 4.2 Indenture, dated May 15, 1996, among Lockheed Martin Corporation, Lockheed Martin Tactical Systems, Inc. and First Trust of Illinois, National Association as Trustee (incorporated by reference to Exhibit 4.1 to Lockheed Martin Corporations Annual Report on Form 10-K for the year ended December 31, 2017). 4.3 Indenture, dated as of August 30, 2006, between Lockheed Martin Corporation and The Bank of New York (incorporated by reference to Exhibit 99.1 to Lockheed Martin Corporations Current Report on Form 8-K filed with the SEC on August 31, 2006). 4.4 Indenture, dated as of March 11, 2008, between Lockheed Martin Corporation and The Bank of New York (incorporated by reference to Exhibit 4.1 to Lockheed Martin Corporations Current Report on Form 8-K filed with the SEC on March 12, 2008). 4.5 Indenture, dated as of May 25, 2010, between Lockheed Martin Corporation and U.S. Bank National Association (incorporated by reference to Exhibit 99.1 to Lockheed Martin Corporations Current Report on Form 8-K filed with the SEC on May 25, 2010). 4.6 Indenture, dated as of September6, 2011, between Lockheed Martin Corporation and U.S. Bank National Association (incorporated by reference to Exhibit 4.1 to Lockheed Martin Corporations Registration Statement on Form S-3 filed with the SEC on April 24, 2020). 4.7 Indenture, dated as of December 14, 2012, between Lockheed Martin Corporation and U.S. Bank National Association (incorporated by reference to Exhibit 99.1 to Lockheed Martin Corporations Current Report on Form 8-K filed with the SEC on December 17, 2012). 4.8 Indenture dated as of September 7, 2017, between Lockheed Martin Corporation and U.S. Bank National Association, as trustee (incorporated by reference to Exhibit 99.1 of Lockheed Martin's Current Report on Form 8-K filed with the SEC on September 7, 2012). 10.1 Five-Year Credit Agreement dated as of August 24, 2018, among Lockheed Martin Corporation, the lenders listed therein, and Bank of America, N.A., as administrative agent (incorporated by reference to Exhibit 10.1 to Lockheed Martin Corporations Current Report on Form 8-K filed with the SEC on August 24, 2018). 10.2 Extension Agreement dated as of August 24, 2019 by among Lockheed Martin Corporation, the lenders listed therein, and Bank of America, N.A., as administrative agent (incorporated by reference to Exhibit 10.1 to Lockheed Martin Corporations Current Report on Form 8-K filed with the SEC on August 26, 2019). 10.3 Non-Employee Director Compensation Summary (incorporated by reference to Exhibit 10.1 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended September 29, 2019). 10.4 Lockheed Martin Corporation Directors Deferred Compensation Plan, as amended (incorporated by reference to Exhibit 10.2 to Lockheed Martin Corporations Annual Report on Form 10-K for the year ended December31,2008). 10.5 Lockheed Martin Corporation Directors Equity Plan, as amended (incorporated by reference to Exhibit 10.1 to Lockheed Martin Corporations Current Report on Form 8-K filed with the SEC on November 2, 2006). 10.6 Lockheed Martin Corporation Amended and Restated Directors Equity Plan (incorporated by reference to Exhibit 10.1 to Lockheed Martin Corporations Current Report on Form 8-K filed with the SEC on April 26, 2018). 10.7 Form of Indemnification Agreement (incorporated by reference to Exhibit 10.34 to Lockheed Martin Corporations Annual Report on Form 10-K for the year ended December 31, 2009). 10.8 Lockheed Martin Corporation Supplemental Savings Plan, as amended and restated effective January 1, 2015 (incorporated by reference to Exhibit 10.4 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended March 29, 2015). 10.9 Lockheed Martin Corporation Nonqualified Capital Accumulation Plan, as amended and restated generally effective as of December 18, 2015 (incorporated by reference to Exhibit 10.22 to Lockheed Martin Corporations Annual Report on Form 10-K for the year ended December 31, 2015). 10.10 Amendment to Lockheed Martin Corporation Supplemental Savings Plan and Lockheed Martin Corporation Nonqualified Capital Accumulation Program, dated December 18, 2019 (incorporated by reference to Exhibit 10.31 to Lockheed Martin Corporations Annual Report on Form 10-K for the year ended December 31, 2019). 10.11 Lockheed Martin Corporation Deferred Management Incentive Compensation Plan, as amended and restated effective January 1, 2020 (incorporated by reference to Exhibit 10.8 to Lockheed Martin Corporations Annual Report on Form 10-K for the year ended December 31, 2019). 10.12 Amendment No.1 to Lockheed Martin Corporation Deferred Management Incentive Compensation Plan, as amended and restated effective January 1, 2020. 10.13 Lockheed Martin Corporation Amended and Restated 2006 Management Incentive Compensation Plan (Performance Based), amended and restated effective January 1, 2019 (incorporated by reference to Exhibit 10.4 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended March 31, 2019). 10.14 Lockheed Martin Corporation Amended and Restated 2003 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.17 to Lockheed Martin Corporations Annual Report on Form 10-K for the year ended December 31, 2008). 10.15 Form of Stock Option Award Agreement under the Lockheed Martin Corporation 2003 Incentive Performance Award Plan (incorporated by reference to Exhibit 99.3 of Lockheed Martin Corporations Current Report on Form 8-K filed with the SEC on February 3, 2011). 10.16 Lockheed Martin Corporation 2011 Incentive Performance Award Plan, as amended and restated January 24, 2019 (incorporated by reference to Exhibit 10.13 to Lockheed Martin Corporations Annual Report on Form 10-K for the year ended December 31, 2018). 10.17 Forms of Stock Option Award Agreements under the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.39 of Lockheed Martin Corporations Annual Report on Form 10-K for the year ended December 31, 2011). 10.18 Form of 2018 Annual Restricted Stock Unit Award Agreement under Lockheed Martin Corporation 2011 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.1 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended March 25, 2018). 10.19 Form of Performance Stock Unit Award Agreement (2018 - 2020 Performance Period) under Lockheed Martin Corporation 2011 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.2 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended March 25, 2018). 10.20 Form of Long-Term Incentive Performance Award Agreement (2018 - 2020 Performance Period) under Lockheed Martin Corporation 2011 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.3 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended March 25, 2018). 10.21 Form of 2019 Annual Restricted Stock Unit Award Agreement under the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.1 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended March 31, 2019). 10.22 Form of Performance Stock Unit Award Agreement (2019 - 2021 Performance Period) under the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.2 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended March 31, 2019). 10.23 Form of Long Term Incentive Performance Award Agreement (2019 - 2021 Performance Period) under the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.3 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended March 31, 2019). 10.24 Form of Retention Restricted Stock Unit Award Agreement under the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.4 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended March 29, 2020). 10.25 Form of 2020 Annual Restricted Stock Unit Award Agreement under the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.1 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended March 29, 2020). 10.26 Form of Performance Stock Unit Award Agreement (2020 - 2022 Performance Period) under the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.2 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended March 29, 2020). 10.27 Form of Long Term Incentive Performance Award Agreement (2020 - 2022 Performance Period) under the Lockheed Martin Corporation 2011 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.3 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended March 29, 2020). 10.28 Lockheed Martin Corporation 2020 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.1 to Lockheed Martin Corporations Current Report on Form 8-K filed with the SEC on April 23, 2020). 10.29 Form of 2020 Annual Restricted Stock Unit Award Agreement under the Lockheed Martin Corporation 2020 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.2 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended June 28, 2020). 10.30 Form of Performance Stock Unit Award Agreement (2020 - 2022 Performance Period) under the Lockheed Martin Corporation 2020 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.3 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended June 28, 2020). 10.31 Form of Long Term Incentive Performance Award Agreement (2020 - 2022 Performance Period) under the Lockheed Martin Corporation 2020 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.4 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended June 28, 2020). 10.32 CEO New Hire Restricted Stock Unit Award Agreement under the Lockheed Martin Corporation 2020 Incentive Performance Award Plan (incorporated by reference to Exhibit 10.5 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended June 28, 2020). 10.33 Amendment to Outstanding Long-Term Incentive Performance and Performance Stock Unit Award Agreements (incorporated by reference to Exhibit 10.2 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended September 27, 2020). 10.34 Lockheed Martin Corporation Consolidated Supplemental Retirement Benefit Plan, as amended and restated effective October 5, 2018 (incorporated by reference to Exhibit 10.26 to Lockheed Martin Corporations Annual Report on Form 10-K for the year ended December 31, 2018). 10.35 Lockheed Martin Corporation Executive Severance Plan, as amended and restated effective December 1, 2016 (incorporated by reference to Exhibit 10.26 to Lockheed Martin Corporations Annual Report on Form 10-K for the year ended December 31, 2016). 10.36 Amendment No. 1 to Lockheed Martin Corporation Executive Severance Plan, as amended and restated effective December 1, 2016 (incorporated by reference to Exhibit 10.1 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended June 24, 2018). 10.37 Amendment No. 2 to Lockheed Martin Corporation Executive Severance Plan, as amended and restated effective December 1, 2016 (incorporated by reference to Exhibit 10.6 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended June 28, 2020). 10.38 Amendment No. 3 to Lockheed Martin Corporation Executive Severance Plan, as amended and restated effective December 1, 2016 (incorporated by reference to Exhibit 10.1 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended September 27, 2020). 10.39 Offer Letter dated March 12, 2020 to James D. Taiclet, Jr. (incorporated by reference to Exhibit 10.5 to Lockheed Martin Corporations Quarterly Report on Form 10-Q for the quarter ended March 29, 2020). 21 Subsidiaries of Lockheed Martin Corporation. 23 Consent of Independent Registered Public Accounting Firm. 24 Powers of Attorney. 31.1 Certification of James D. Taiclet pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 31.2 Certification of Kenneth R. Possenriede pursuant to Section 302 of the Sarbanes-Oxley Act of 2002. 32 Certification of James D. Taiclet and Kenneth R. Possenriede Pursuant to 18 U.S.C. Section 1350, as adopted pursuant to Section 906 of the Sarbanes-Oxley Act of 2002.