Ownership Submission
FORM 3
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
  McCarthy John C
2. Date of Event Requiring Statement (Month/Day/Year)
01/22/2009
3. Issuer Name and Ticker or Trading Symbol
LOCKHEED MARTIN CORP [LMT]
(Last)
(First)
(Middle)
6801 ROCKLEDGE DRIVE
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Vice President & Treasurer
5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

BETHESDA, MD 20817
6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)
2. Amount of Securities Beneficially Owned
(Instr. 4)
3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)
4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Common Stock 4,693.5969
I
Lockheed Martin Salaried Savings Plan

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
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Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)
2. Date Exercisable and Expiration Date
(Month/Day/Year)
3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)
4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)
6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy) 01/29/2005(1) 01/29/2014 Common Stock 9,000 $ 49.27 D  
Employee Stock Option (Right to Buy) 01/31/2006(2) 01/31/2015 Common Stock 11,500 $ 57.81 D  
Employee Stock Option (Right to Buy) 02/01/2007(3) 02/01/2016 Common Stock 15,000 $ 67.97 D  
Employee Stock Option (Right to Buy) 01/29/2008(4) 01/29/2017 Common Stock 12,000 $ 96.06 D  
Employee Stock Option (Right to Buy) 01/28/2009(5) 01/26/2018 Common Stock 13,700 $ 106.87 D  
Restricted Stock Units   (6)   (6) Common Stock 2,000 $ 0 D  
Restricted Stock Units   (7)   (7) Common Stock 1,200 $ 0 D  
Restricted Stock Units   (8)   (8) Common Stock 1,000 $ 0 D  
Phantom Stock Units   (9)   (9) Common Stock 1,044.8988 $ 0 I Lockheed Martin DMICP
Phantom Stock Units   (10)   (10) Common Stock 3,071.197 $ 0 I Lockheed Martin Supplemental SSP
Phantom Stock Units   (11)   (11) Common Stock 2,685.7102 $ 0 I Lockheed Martin LTIP

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
McCarthy John C
6801 ROCKLEDGE DRIVE
BETHESDA, MD 20817
      Vice President & Treasurer  

Signatures

John C. McCarthy, by David A. Dedman, Attorney-in-fact 01/26/2009
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) The options vest over three years, one-third on each of the first, second and third anniversaries of the grant date, beginning on January 29, 2005.
(2) The options vest over three years, one-third on each of the first, second and third anniversaries of the grant date, beginning on January 31,2006.
(3) The options vest over three years, one-third on each of the first, second and third anniversaries of the grant date, beginning on February 1, 2007.
(4) The options vest over three years, one-third on each of the first, second and third anniversaries of the grant date, beginning on January 29, 2008.
(5) The options vest over three years, one-third on each of the first, second and third anniversaries of the grant date, beginning on January 28, 2009.
(6) Each RSU represents a contingent right to receive one share of LMT common stock. The RSUs are subject to a one-year performance period. If the value of the RSUs on the date of grant exceeds the performance goal specified in the award agreement, a number of RSUs equal in value to the performance shortfall is forfeited. Subject to the performance goal, the RSUs vest on February 1, 2009, the third anniversary of the date of the grant.
(7) Each RSU represents a contingent right to receive one share of LMT common stock. The RSUs are subject to a one-year performance period. If the value of the RSUs on the date of grant exceeds the performance goal specified in the award agreement, a number of RSUs equal in value to the performance shortfall is forfeited. Subject to the performance goal, the RSUs vest on January 29, 2010, the third anniversary of the date of the grant.
(8) Each RSU represents a contingent right to receive one share of LMT common stock. The RSUs are subject to a one-year performance period. If the value of the RSUs on the date of grant exceeds the performance goal specified in the award agreement, a number of RSUs equal in value to the performance shortfall is forfeited. Subject to the performance goal, the RSUs vest on January 28, 2011, the third anniversary of the date of the grant.
(9) Phantom stock units acquired under the Lockheed Martin Deferred Management Incentive Compensation Plan exempt under Section 16(b) and will be settled in stock upon the reporting person's retirement or termination of service. The phantom stock units convert on a one-for-basis.
(10) Phantom stock units acquired under the Lockheed Martin Supplemental Salaried Savings Plan exempt under Section 16(b) which will be settled upon the reporting person's retirement or termination of service. The phantom stock units convert on a one-for-one basis.
(11) Phantom stock units acquired under the Lockheed Martin Long Term Incentive Plan exempt under Section 16(b) which will be settled in cash after two years subject to continued employment, unless voluntarily deferred (in which case the units will be settled in stock upon the reporting person's retirement or termination of service. The phantom stock units convert on a one-for-one basis.

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