What changed in this filing

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Item 3. Legal Proceedings

2025-01-28 compared with 2024-01-23 · 23 added, 33 removed, 33 unchanged (63% of the section changed)

7 unchanged sentences

The extent of our financial exposure cannot in all cases be reasonably estimated at this time.

For information regarding the matters discussed above, including current estimates of the amounts that we believe are required for remediation or clean-up to the extent estimable, see “Critical Accounting Policies - Environmental Matters” in “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Note 14 – Legal Proceedings, Commitments and Contingencies” included in our Notes to Consolidated Financial Statements.

Mine Safety Disclosures

2 unchanged sentences

Our executive officers as of January 28, 2025 are listed below, with their ages on that date, positions and offices currently held, and principal occupation and business experience during at least the last five years.

Effective February 21, 2024, the titles of our business segment executive officers were changed from Executive Vice President to President, with no changes to their duties or responsibilities.

There are no family relationships among any of our executive officers and directors.

All executive officers serve at the discretion of the Board of Directors.

Cahill (age 58), Executive Vice President – Missiles and Fire Control

Cahill has served as Executive Vice President for the Missiles and Fire Control (MFC) business segment, since November 2022.

Cahill previously served as Senior Vice President of Global Business Development & Strategy (GBD&S) from March 2021 to October 2022.

Cahill (age 59), President – Missiles and Fire Control

Cahill has served as President for the Missiles and Fire Control (MFC) business segment since November 2022.

Cahill previously served as Senior Vice President Global Business Development & Strategy (GBD&S) from March 2021 to October 2022.

Prior to that, Mr.

Cahill served as Senior Vice President Lockheed Martin International from October 2019 to March 2021.

and as Vice President, Integrated Air and Missile Defense (IAMD) Systems for MFC from January 2016 to October 2019.

Hill (age 58), Executive Vice President – Rotary and Mission Systems

Hill has served as Executive Vice President of the Rotary and Mission Systems (RMS) business segment since June 2020.

Hill (age 60), President – Rotary and Mission Systems

Hill has served as President for the Rotary and Mission Systems (RMS) business segment since June 2020.

She previously served as Senior Vice President, Enterprise Business Transformation from June 2019 to June 2020.

Prior to that, she was Deputy Executive Vice President of RMS from October 2018 to June 2019;

and Senior Vice President for Corporate Strategy and Business Development from September 2017 to October 2018.

Lavan (age 64), Senior Vice President, General Counsel and Corporate Secretary

Lavan has served as Senior Vice President, General Counsel and Corporate Secretary since September 2010.

Lightfoot, Jr.

(age 60), Executive Vice President – Space

Lightfoot has served as Executive Vice President of the Space business segment since January 2022.

(age 61), President – Space

Lightfoot has served as President for the Space business segment since January 2022.

He previously served as Vice President, Operations for the Space business segment from June 2021 to December 2021.

Prior to that, he served as Vice President, Strategy and Business Development of Space from May 2019 to June 2021.

Prior to joining Lockheed Martin in 2019, Mr.

Lightfoot served as President, LSINC Corporation, a provider of product development and engineering services, from May 2018 to May 2019.

Prior to that, he was Associate Administrator at the National Aeronautics & Space Administration (NASA), the agency’s highest-ranking civil service position, from March 2012 to April 2018.

Prior to that, he served as Vice President, Strategy and Business Development for Space from May 2019 to June 2021.

Jesus Malave (age 56), Chief Financial Officer

Malave has served as Chief Financial Officer since January 2022.

Prior to joining Lockheed Martin in 2022, Mr.

Prior to joining Lockheed Martin Corporation in 2022, Mr.

Malave served as Senior Vice President and Chief Financial Officer of L3Harris Technologies, Inc.

(L3Harris) from June 2019 to January 2022.

Before joining L3Harris, Mr.

Malave worked at United Technologies Corporation (UTC) as Vice President and Chief Financial Officer of UTC’s Carrier Corporation from April 2018 to June 2019;

and as Chief Financial Officer of UTC’s Aerospace Systems from January 2015 to April 2018.

O’Connor (age 57), Senior Vice President, General Counsel and Corporate Secretary

O’Connor has served as Senior Vice President, General Counsel and Corporate Secretary since January 2025.

Prior to joining Lockheed Martin Corporation he served as the Senior Vice President and Chief Legal Officer of Carrier Corporation from January 2020 until January 2025, prior to which he served as Chief Legal Officer of Point72 Asset Management from June 2015 until January 2020.

Edward Paul, III (age 49), Vice President and Controller

Paul has served as Vice President and Controller since June 2022.

Previously, he served as Vice President, Accounting from March 2015 to July 2023.

Previously, he served as Vice President, Accounting from March 2015 to June 2022.

Ricciardone (age 49), Vice President, Treasurer and Investor Relations

1 unchanged sentence

She previously served as Vice President, Investor Relations from October 2022 to December 2023.

Prior to joining Lockheed Martin in October 2022, she served as Vice President, Finance – FP&A and Global Components for Arrow Electronics from June 2019 to October 2022.

Prior to that, she served as Vice President, Strategy and Investor Relations at Hubbell Incorporated from March 2015 to June 2019.

Prior to joining Lockheed Martin Corporation in October 2022, she served as Vice President, Finance – FP&A and Global Components of Arrow Electronics from June 2019 to October 2022.

Prior to that, she served as Treasurer and Vice President, Strategy and Investor Relations for Hubbell Incorporated from January 2016 to June 2019.

John (age 58), Chief Operating Officer

John has served as Chief Operating Officer since June 2020.

He previously served as Executive Vice President of RMS from August 2019 to June 2020.

Prior to that, he served as Executive Vice President of MFC from January 2018 to August 2019;

and as Executive Vice President and Deputy Programs for MFC from June 2017 to January 2018.

He previously served as Executive Vice President for RMS from August 2019 to June 2020.

Taiclet (age 64), Chairman, President and Chief Executive Officer

Taiclet has served as Chairman since March 2021 and as President and Chief Executive Officer (CEO) of Lockheed Martin since June 2020.

He has served on the Lockheed Martin Board of Directors since January 2018.

Taiclet has served as Chairman since March 2021 and as President and Chief Executive Officer (CEO) of Lockheed Martin Corporation since June 2020.

He has served on the Lockheed Martin Corporation Board of Directors since January 2018.

Previously, he was Chairman, President and CEO of American Tower Corporation from February 2004 to March 2020;

and Executive Chairman from March 2020 to May 2020.

Ulmer (age 59), Executive Vice President – Aeronautics

Ulmer has served as Executive Vice President for the Aeronautics business segment since February 2021.

He served as Vice President and General Manager, F-35 Lightning II Program from March 2018 to January 2021.

Prior to that, he served as Vice President, F-35 Aircraft Production business unit from March 2016 to March 2018.

Ulmer (age 60), President – Aeronautics

Ulmer has served as President for the Aeronautics business segment since February 2021.

He previously served as Vice President and General Manager, F-35 Lightning II Program from March 2018 to January 2021.

Compared sentence by sentence after normalising whitespace, quotation marks, case and digits, so re-formatting and restated figures do not read as changed language. Wording changes appear as one removal and one addition. The current filing and the prior one are authoritative.

What changed 10-K

Item 3. Legal Proceedings