Lockheed Martin 2013 CEO's Compensation More Than Double Last Year To $25.2 Mln

(RTTNews) - Defense contractor Lockheed Martin Corp. (LMT) said Friday in its regulatory filing, that its Chief Executive Marilly Hewson received total compensation of $25.2 million, more than doubled from last year's $11.4 million, as she completed her first 12 months in charge of the world's largest defense contractor by revenue.

Hewson's base salary jumped to about $1.4 million from $738 thousand last year. Her stock awards rose to about $8.2 million from about $877 thousand in the prior year, the defense contractor said in a definitive proxy statement filed with the U.S. Securities and Exchange Commission.

The 2013 compensation also includes non-equity incentive plan compensation of $5.98 million, and all other compensations of $238 thousand and change in Pension Value and Nonqualified Deferred Compensation Earnings of $9.4 million.

Additionally, the company specified that its Executive Vice President and Chief Financial Officer Bruce Tanner got total compensation of $8.11 million, up from the previous year's $7.88 million. The total compensation received by Tanner in 2013 includes $839 thousand as base salary, $2.95 million as stock grants, non-equity incentive plan compensation of $3.38 million, and all other compensations of $75 thousand.