8-KShareholder Matters

LOCKHEED MARTIN CORP 8-K Report, Shareholder Vote Results (Apr 25, 2019)

Filed April 25, 2019For Securities:LMT

Summary

This 8-K filing reports on the outcomes of Lockheed Martin Corporation's (LMT) Annual Meeting of Stockholders held on April 25, 2019. The meeting saw a high quorum of 92.98% of outstanding shares represented, indicating strong shareholder engagement. All key proposals presented to the stockholders passed with significant majority support, including the election of ten directors, the ratification of Ernst & Young LLP as independent auditors for 2019, and an advisory vote to approve executive compensation (Say-on-Pay).

Key Highlights

  • 1High shareholder participation with 92.98% quorum at the Annual Meeting.
  • 2All ten incumbent directors were overwhelmingly elected to serve until the 2020 Annual Meeting.
  • 3Ernst & Young LLP was ratified as the independent auditor for the fiscal year ending December 31, 2019.
  • 4Shareholders approved, on an advisory basis, the compensation of the Named Executive Officers (Say-on-Pay).
  • 5A stockholder proposal to amend the proxy access bylaw was rejected by a substantial margin.

Frequently Asked Questions

This 8-K filing's primary purpose was to report the final voting results from Lockheed Martin Corporation's Annual Meeting of Stockholders held on April 25, 2019. It details the outcomes of proposals related to director elections, auditor ratification, executive compensation, and a stockholder proposal.

Yes, all ten incumbent directors were overwhelmingly elected by shareholders to serve until the 2020 Annual Meeting of Stockholders. The 'Votes For' significantly outweighed 'Votes Against' for each director.

Yes, shareholders ratified the appointment of Ernst & Young LLP as Lockheed Martin's independent auditor for the fiscal year ending December 31, 2019. This proposal received a very high number of 'Votes For'.

Shareholders approved, on an advisory basis (meaning it is non-binding), the compensation of the Corporation’s named executive officers. The 'Votes For' exceeded the 'Votes Against'.

The stockholder proposal to amend the proxy access bylaw was rejected. The 'Votes Against' significantly outnumbered the 'Votes For', indicating shareholder opposition to this particular proposal.