Item 5.07. Submission of Matters to a Vote of Security Holders.
Lockheed Martin Corporation held its Annual Meeting of Stockholders on April 28, 2016. Of the 304,774,508 shares outstanding and entitled to vote (as of
the February 26, 2016 record date), 283,746,920 shares were represented at the meeting, or a 93.1% quorum. The final results of voting for each matter submitted to a vote of stockholders at the meeting are as follows:
Proposal 1 Election of Directors
Elected the
following eleven individuals to the Board of Directors to serve as directors until the Annual Meeting of Stockholders in 2017 and until their successors have been duly elected and qualified:
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Votes Cast
For
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Votes Cast
Against
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Votes Cast
Abstain
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Broker Non-
Votes
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Daniel F. Akerson
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246,711,073
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3,850,638
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2,198,287
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30,986,922
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Nolan D. Archibald
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243,863,259
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6,170,715
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2,726,024
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30,986,922
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Rosalind G. Brewer
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245,735,434
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4,774,267
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2,250,228
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30,986,922
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David B. Burritt
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247,088,039
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3,532,174
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2,139,785
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30,986,922
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Bruce A. Carlson
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247,405,090
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3,274,572
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2,080,040
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30,986,922
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James O. Ellis, Jr.
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246,049,338
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4,616,521
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2,093,841
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30,986,922
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Thomas J. Falk
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245,998,381
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4,365,049
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2,396,240
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30,986,922
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Marillyn A. Hewson
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242,491,189
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7,590,985
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2,677,459
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30,986,922
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James M. Loy
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242,139,398
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8,431,746
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2,185,642
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30,986,922
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Joseph W. Ralston
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243,789,093
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6,885,844
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2,085,061
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30,986,922
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Anne Stevens
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245,344,058
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5,230,703
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2,185,237
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30,986,922
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Proposal 2 Ratification of Appointment of Independent Auditors
Ratified the appointment of Ernst & Young LLP as the Corporations independent auditors for the year ending December 31, 2016.
There were 278,557,856 votes for the appointment, 3,649,429 votes against the appointment, and 1,539,359 abstentions.
Proposal 3
Advisory Vote to Approve the Compensation of our Named Executive Officers (Say-on-Pay)
Approved, on an advisory basis (non-binding), the
compensation of the Corporations named executive officers as described in the Compensation Discussion and Analysis and the accompanying tables in our 2016 proxy statement. There were 235,910,778 votes for the proposal,
13,371,847 votes against the proposal, 3,477,373 abstentions, and 30,986,922 broker non-votes.
Proposal 4 Management Proposal to
Re-Approve the Performance Goals for the 2011 Incentive Performance Award Plan
Approved a management proposal re-approving the performance-based goals
applicable to certain awards under the Lockheed Martin Corporation 2011 Incentive Perfomance Award Plan for an additional five years so as to preserve, to the extent possible, Lockheed Martins tax deduction for those awards in accordance
with Section 162(m) of the Internal Revenue Code of 1986. There were 237,463,230 votes for the proposal, 12,138,719 votes against the proposal, 3,158,049 abstentions and 30,986,922 broker non-votes.
Proposal 5 Stockholder Proposal by John Chevedden
Rejected a stockholder proposal requesting that the Board of Directors undertake the steps necessary (unilaterally if possible) to amend Lockheed Martins
bylaws and each appropriate governing document to give holders in the aggregate of 15% of Lockheed Martins outstanding common stock the power to call a special meeting of stockholders. There were 105,731,368 votes for the proposal,
141,827,984 votes against the proposal, 5,199,991 abstentions and 30,986,922 broker non-votes.