Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Election of
On
The Board of Directors determined thatMs. Yarrington is an "independent director" in accordance with theNew York Stock Exchange listing standards, the rules and regulations of theSecurities and Exchange Commission ("SEC") and the Corporation's corporate governance guidelines and thatMs. Yarrington meets theSEC's criteria of an "audit committee financial expert."Ms. Yarrington , age 65, served as Vice President and Chief Financial Officer of Chevron Corporation fromJanuary 2009 until her retirement inMarch 2019 . Having served 38 years atChevron ,Ms. Yarrington served as Vice President and Treasurer from 2007 through 2008, Vice President, Policy, Government and Public Affairs from 2002 to 2007 and Vice President, Strategic Planning from 2000 to 2002. For her service on the Board of Directors,Ms. Yarrington will receive the Corporation's standard compensation for non-employee directors. A description of such standard compensation arrangement is filed as Exhibit 10. 1 to the Corporation's Quarterly Report on Form 10-Q for the quarter endedSeptember 29, 2019 and incorporated herein by reference. Equity grants toMs. Yarrington will be made in accordance with theLockheed Martin Corporation Amended and Restated Directors Equity Plan, a copy of which is filed as Exhibit 10.1 to the Corporation's Current Report on Form 8-K filed with theSEC onApril 26, 2018 and incorporated herein by reference.Ms. Yarrington is also eligible to defer up to 100% of her cash fees into theLockheed Martin Corporation Directors Deferred Compensation Plan, as amended, a copy of which is filed as Exhibit 10.2 to the Corporation's Annual Report on Form 10-K for the year endedDecember 31, 2008 and is incorporated herein by reference. Deferred amounts track the performance of investment options available under the Corporation's employee deferred compensation plans or the Corporation's common stock (with dividends reinvested), at the director's election.
Exhibit 10.34 to the Corporation's Annual Report on Form 10-K for the year
ended
A copy of the press release announcing the election of
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits Exhibit No. Description 99.1 Press Release ofLockheed Martin Corporation datedJune 1, 2021 . 104 Cover Page Interactive Data File (embedded within
the Inline XBRL document).
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