Lockheed Martin discloses December2025 pension annuity buy-out conversions

Lockheed Martin’s 2025 Form 10-K discloses December 2025 buy-out conversions of previously purchased group annuity contracts, transferring USD 943 million of pension obligations and related plan assets. The company recognized a USD 479 million noncash pretax settlement charge. This was a 2025 transaction disclosed in 2026, not an additional 2026 transfer.