What is the primary purpose of this 8-K filing?

The primary purpose of this 8-K filing is to inform the Securities and Exchange Commission (SEC) and the public about proposed amendments to Lockheed Martin's internal corporate policy statements regarding international consultants (CPS-704) and compliance with the Foreign Corrupt Practices Act (FCPA) (CPS-730). This filing is a continuation of a historical commitment made by the former Lockheed Corporation to the SEC.

Why is Lockheed Martin filing this on behalf of its former subsidiary, Lockheed?

Lockheed Martin is filing on behalf of its former subsidiary, Lockheed, to maintain consistency with a consent judgment entered into by Lockheed Aircraft Corporation with the SEC in 1976. This judgment required Lockheed to report changes to its policies on international payments and FCPA compliance. Although Lockheed is no longer a separately registered entity, Lockheed Martin is continuing this reporting obligation as per its historical commitments.

Are there any immediate financial impacts or changes for investors in this filing?

This filing pertains to internal corporate policy updates and historical reporting requirements. It does not announce any new financial results, material contracts, or immediate changes to the company's financial performance or structure that would directly impact investors. Its significance lies in demonstrating the company's commitment to regulatory compliance and ethical business practices.

LMT 8-K SEC Disclosure — Aug 21, 2002

Q: What are the Foreign Corrupt Practices Act (FCPA) and its relevance here?

The Foreign Corrupt Practices Act (FCPA) is a U.S. federal law that prohibits U.S. citizens and U.S.-based companies from bribing foreign government officials. The inclusion of CPS-730 (Compliance with the Foreign Corrupt Practices Act) in this filing highlights Lockheed Martin's ongoing commitment to adhering to these U.S. laws in its international business dealings, aiming to prevent bribery and corruption.

Summary

This 8-K filing from Lockheed Martin Corporation (LMT) on August 20, 2002, announces proposed amendments to two internal corporate policy statements: CPS-704 (International Consultants) and CPS-730 (Compliance with the Foreign Corrupt Practices Act), effective September 3, 2002. The filing is made on behalf of its former subsidiary, Lockheed, to adhere to historical commitments made to the Securities and Exchange Commission (SEC) regarding compliance with the Foreign Corrupt Practices Act (FCPA). These amendments are a continuation of Lockheed Martin's established practice of maintaining and updating policies related to international dealings and anti-corruption measures, tracing back to a 1976 consent judgment involving the former Lockheed Aircraft Corporation. The filing ensures continued transparency and compliance reporting to the SEC, even though the former subsidiary's securities are no longer directly registered.

Key Highlights

1Lockheed Martin is updating its internal policies on international consultants (CPS-704) and compliance with the Foreign Corrupt Practices Act (FCPA) (CPS-730).
2The amendments are proposed to be effective September 3, 2002.
3The filing is made on behalf of the former Lockheed Corporation to fulfill prior SEC commitments dating back to a 1976 consent judgment.
4The update maintains the company's commitment to policies regarding payments to foreign government officials and entities.
5This action demonstrates a continued focus on ethical business practices and anti-corruption measures.
6The company is ensuring ongoing compliance with regulatory reporting requirements related to these critical policy areas.

LOCKHEED MARTIN CORP 8-K Report (Aug 21, 2002)

Summary

Key Highlights

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