Lockheed Martin Corporation filed SEC Form 8-K: Leadership Update, Financial Statements and Exhibits
$LMT
Military/Government/Technical
Industrials
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of The Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): April 16, 2025
(Exact name of registrant as specified in its charter)
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(301 ) 897-6000
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On April 17, 2025, Lockheed Martin Corporation (“Lockheed Martin” or the “Company”) announced that Jay Malave, its Chief Financial Officer, advised the Company of his intention to pursue other opportunities outside of the Company. Mr. Malave’s departure is not related to any financial or accounting issue or any disagreement with the Company on any matter relating to the Company’s operations, policies or practices.
On April 17, 2025, Lockheed Martin also announced that Evan T. Scott has been appointed Chief Financial Officer to replace Mr. Malave effective April 17, 2025.
Mr. Scott, age 48, has served as Vice President and Chief Financial Officer of the Missiles and Fire Control business segment of the Company since January 1, 2024. He previously served in a number of other capacities at Lockheed Martin, including as Vice President and Treasurer from June 2022 through December 2023; Vice President, Finance and Business Operations of the Space business segment from March 2019 to August 2021; and Vice President and Controller of the Missiles and Fire Control business segment from March 2015 to March 2019.
In connection with Mr. Scott’s election as Chief Financial Officer, the Company made the following changes to Mr. Scott’s compensation arrangements, effective April 21, 2025:
In connection with Mr. Scott’s election as Chief Financial Officer, the Company approved increases in Mr. Scott’s base salary to $850,000 and his target annual incentive award under the Lockheed Martin Corporation Management Incentive Compensation Plan to 125% of base salary. Mr. Scott will be eligible for a long-term incentive award in 2026 commensurate with his new role, subject to approval by the Company’s Management Development and Compensation Committee. Mr. Scott’s compensation was established based on the Company’s executive compensation philosophy, which takes into account the “market rate” of the Company’s comparator group of companies as described in the Company’s proxy statement for the 2025 annual meeting filed with the Securities and Exchange Commission on March 27, 2025.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit No. Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL document).
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| Lockheed Martin Corporation | |||||||||||
| (Registrant) | |||||||||||
| Date: April 17, 2025 | By: | /s/ John E. Stevens | |||||||||
John E. Stevens | |||||||||||
| Vice President and Associate General Counsel | |||||||||||