Summary
This 10-K filing for Lockheed Martin Corporation (LMT) as of December 31, 2009, primarily details administrative and corporate governance updates, with a significant focus on the amendments to the company's bylaws and the introduction of standard indemnification agreements for directors. These changes, effective February 25, 2010, clarify and enhance the indemnification rights and expense advancement procedures for covered persons, ensuring continued protection for directors and officers against legal actions related to their service. While the filing incorporates extensive information by reference from the definitive Proxy Statement for the company's 2010 annual meeting (covering topics such as directors, executive officers, compensation, security ownership, and related transactions), the core disclosures within this Form 10-K itself are procedural and governance-related. Investors should note that this report does not contain substantial new financial performance data or strategic operational updates beyond what would be found in the referenced financial statements and accompanying Management's Discussion and Analysis.
Financial Highlights
51 data points| Revenue | $43.87B |
| Cost of Revenue | $39.72B |
| Gross Profit | $4.15B |
| R&D Expenses | $717.00M |
| Operating Income | $4.37B |
| Interest Expense | $308.00M |
| Net Income | $2.97B |
| EPS (Basic) | $7.73 |
| EPS (Diluted) | $7.64 |
| Shares Outstanding (Basic) | 384.80M |
| Shares Outstanding (Diluted) | 388.90M |
Key Highlights
- 1Significant updates to Lockheed Martin's bylaws regarding indemnification of directors, officers, and employees, effective February 25, 2010.
- 2Introduction of standard indemnification agreements for directors, further solidifying protections and expense advancement.
- 3Clarification of circumstances under which indemnification is granted and when expense advancement may terminate (e.g., criminal conviction).
- 4Confirmation that rights to indemnification vest upon commencement of service and continue thereafter for actions taken during service.
- 5The filing incorporates by reference extensive details on directors, executive officers, compensation, and security ownership from the company's 2010 Proxy Statement.
- 6Lockheed Martin maintains a Code of Ethics and Business Conduct applicable to all employees and directors, available on its investor relations website.