On May 9, 2025, Lockheed Martin Corporation held its Annual Meeting of Stockholders, where key shareholder resolutions shaping the company’s governance and strategic direction were decided. With an 86.47% quorum representing 202,834,756 of the 234,573,049 outstanding shares as of February 28, 2025, the meeting delivered decisive votes on critical matters.
Investors re-elected 10 directors to serve through 2026, including Chair Jim Taiclet and other prominent leaders, reinforcing stability and leadership continuity. Key votes included: - Approval of executive compensation (Say-on-Pay) with over 151 million votes in favor. - Ratification of Ernst & Young LLP as independent auditors for 2025 supported by nearly 196 million votes. - Rejection of proposals seeking shareholder approval on excessive golden parachutes and political alignment reports, reflecting strategic preferences of the majority.
The meeting took place at the corporate headquarters in Bethesda, Maryland, coinciding with Lockheed Martin’s consistent commitment to shareholder engagement during its fiscal year ending December 31, 2024.
Looking back at fiscal year 2024, Lockheed Martin reported robust financial results with \(71 billion in sales, marking a 5% growth driven by enhanced backlog conversion and increased throughput across the production value chain. The company generated \)5.3 billion in free cash flow, including pension prefunding, and returned an impressive $6.8 billion to shareholders via dividends and buybacks, underpinning shareholder value creation.
Total debt to capitalization stood at approximately 76.2% for FY 2024, reflecting substantial leverage but supported by strong cash flow and strategic capital deployment. The company invested $3.3 billion in research and development and capital expenditures, advancing its technological and operational capacities to maintain competitive leadership.
This annual meeting and vote outcome align closely with themes from Lockheed Martin’s recent earnings calls, where executives emphasized ongoing capital deployment, technology innovation (notably in aerospace and missile defense), and disciplined shareholder returns amidst evolving defense budgets. The fiscal 2024 backlog hit a record $176 billion, pointing to sustained demand and operational resilience.
Looking ahead, Lockheed Martin projects continued growth and strategic investment in advanced defense technologies, including F-35 aircraft production, space systems expansion, and hypersonic weaponry development. These plans are supported by the U.S. Department of Defense budget increases and international demand, particularly from allied partnerships.
Lockheed Martin’s 2025 Annual Meeting results underscore shareholder confidence in leadership, compensation policies, and strategic direction. Supported by solid FY 2024 financial performance and proactive capital deployment, the company is well-positioned to capitalize on defense sector opportunities in a complex geopolitical environment.
For those interested, the full 8-K report detailing these meeting outcomes is available here: Lockheed Martin 8-K May 9 2025.
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