Summary
Lockheed Martin Corporation (LMT) has announced a significant addition to its Board of Directors with the election of Admiral John C. Aquilino, U.S. Navy, Retired. This appointment, effective December 11, 2024, brings a highly decorated military leader with extensive experience in global command and strategic operations to the company's governance. Admiral Aquilino's background, particularly his recent role as Commander of the U.S. Indo-Pacific Command, is expected to provide valuable insights into geopolitical dynamics and national security, which are critical to Lockheed Martin's defense contracting business. The company has confirmed Admiral Aquilino meets all independence requirements according to NYSE listing standards, SEC regulations, and LMT's corporate governance guidelines. He will serve on the Board's Classified Business and Security Committee. Investors should note that Admiral Aquilino will receive the standard compensation for non-employee directors, with details on equity grants and deferred compensation plans incorporated by reference from prior filings.
Key Highlights
- 1Admiral John C. Aquilino, U.S. Navy Retired, has been elected to Lockheed Martin's Board of Directors.
- 2Admiral Aquilino brings extensive military leadership experience, including his most recent role as Commander of U.S. Indo-Pacific Command.
- 3The appointment is effective December 11, 2024, and Admiral Aquilino will serve on the Classified Business and Security Committee.
- 4The Board has determined Admiral Aquilino is an independent director under all applicable standards.
- 5Compensation for Admiral Aquilino will align with the company's standard arrangements for non-employee directors.
- 6Equity grants will follow the Lockheed Martin Corporation Amended and Restated Directors Equity Plan, with a 2024 amendment noted.
- 7Admiral Aquilino is eligible for deferred compensation plans, with options to track investment performance or company stock.