Lockheed Martin (LMT) Appoints Thomas Falk to its Board, Declares Q2 Dividend

The Lockheed Martin (NYSE: LMT) board of directors has authorized a second quarter 2024 dividend of $3.15 per share. The dividend is payable on June 28, 2024, to holders of record as of the close of business on June 3, 2024.

The independent members of Lockheed Martin's board of directors also unanimously elected Thomas J. Falk as independent lead director of the board effective today, succeeding Daniel F. Akerson who, along with James O. Ellis, Jr., retired from the board this morning following the company's annual stockholders meeting.

"We are pleased to announce Tom's election as our next independent lead director. His demonstrated independent judgement, integrity, and in-depth knowledge of the company allows for a smooth transition and will enable Tom to offer the kind of independent oversight that the role calls for," said Lockheed Martin Chairman, President and CEO Jim Taiclet. "On behalf of the entire board, we thank Dan for his tireless work as our independent lead director since 2019 and for his dedication to Lockheed Martin and the board since 2014. We also extend our thanks to Jim Ellis, who retired from the board today after 20 years, for his service to our company and efforts to advance 21st Century Security."

Falk has served on Lockheed Martin's board of directors since 2010 and as Audit Committee chair since 2015. As independent lead director, Falk will assume all duties and responsibilities of that position, including presiding over executive sessions of independent directors, approving agendas for board meetings and providing feedback to management. He will also chair the board's Nominating and Corporate Governance Committee and serve as ex officio member of each of the other committees. In connection with Falk's election as independent lead director, Patricia E. Yarrington has been appointed Chair of the board's Audit Committee.

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