secwatch.observer — SEC 8-K summary
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Issuer:     LOCKHEED MARTIN CORP (LMT)
CIK:        0000936468
Form:       8-K
Filed at:   2022-06-27T23:59:59+00:00
Accession:  0000936468-22-000084
Event type: other_material
Sentiment:  neutral
Materiality: 0.85
Item codes: 2.02, 7.01, 8.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lockheed transfers $4.3B pension obligations to Athene; expects $1.5B settlement charge
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- Lockheed transferred ~$4.3B in pension obligations and assets to Athene for ~13,600 retirees.
- No additional funding was required; retiree benefits remain unchanged.
- Expects non-cash settlement charge of ~$1.5B ($1.2B after-tax, $4.50/sh) in Q2 2022.
- Prior 2022 outlook excluded the charge; updated outlook will accompany Q2 earnings release.
- Athene will begin paying and administering benefits on Jan. 1, 2023.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/936468/000093646822000084/0000936468-22-000084-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/936468/000093646822000084/lmt-20220624.htm
  HTML page:      https://secwatch.observer/filing/0000936468-22-000084

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