Hello, welcome to the 2021 Annual Meeting of Stockholders of Lockheed Martin Corporation. Please note that today's meeting is being recorded. At the conclusion of the business of the meeting, we will have a discussion period. You can submit questions or comments at any time by clicking the message icon, typing it into the Ask a Question field on your screen, and clicking Submit. It is now my pleasure to turn the meeting over to today's speaker, Jim Taiclet, Chairman, President, and Chief Executive Officer of Lockheed Martin. Mr. Taiclet, the floor is yours. Thank you, and good morning, everyone. I'm Jim Taiclet, Chairman, President, and CEO of Lockheed Martin. Welcome to Lockheed Martin's 2021 Annual Meeting of Stockholders. As described in our proxy materials, this annual meeting is being conducted exclusively online. We have adopted this virtual format to assist in protecting the health and safety of our stockholders and employees in light of the ongoing COVID-19 pandemic and to enable stockholders to participate fully and equally, regardless of physical location. Before I turn to the official business of this meeting, I want to take a moment to personally thank our employees, many of whom are stockholders, for remaining dedicated in these challenging times to performing and delivering on our mission-critical commitments to our customers that are vital to national security. Despite the challenges of 2020, we were able to accomplish strong financial and operational performance in 2020 and bring forward a strategic vision of how we will support our nation and allies to meet the heightened threats of the 21st century. We appreciate those stockholders who have taken the time to join our meeting today, and we appreciate your continued investment in Lockheed Martin. We hope that you and your families are all safe and well. Now, turning to the meeting. To be deemed present and to have the ability to vote during the meeting, you must have accessed the meeting by entering the control number previously provided to you in your proxy materials. Holders of our common stock as of the close of business on February 26, 2021, the annual meeting record date, will be able to vote and submit questions during the meeting. Those who have logged in as guests are in listen-only mode and will not be able to submit questions. We have two stockholder proponents who will present proposals four and five. This meeting is now called to order. Let me first advise everyone that some of our remarks today may be considered forward-looking statements which cover future events. Please be aware that the corporation's actual results may vary from what we believe or anticipate. Please refer to our SEC filings, including our 2020 Form 10-K and first quarter 2021 Form 10-Q, for information on factors that could cause our actual results to differ materially from our forward-looking statements. These filings are available on Lockheed Martin's website and on the SEC's website. Joining us for this meeting are Maryanne Lavan, our Senior Vice President, General Counsel, and Corporate Secretary, who will act as Secretary of the meeting, and representatives of Computershare Trust Company, who've been appointed to serve as the Inspectors of Election at the meeting. Members of our management team, including Kenneth Possenriede, our Chief Financial Officer, Frank St. John, our Chief Operating Officer, Greg Karol, our Chief Human Resources Officer, Leo Mackay, our Senior Vice President of Ethics and Enterprise Assurance, Greg Gardner, our Vice President of Investor Relations, and all of our directors, including Dan Akerson, our Independent Lead Director. I want to thank each of our board members for joining the meeting and for their dedication and willingness to serve on the board. Lastly, representatives from Ernst & Young LLP, our independent auditors, are also present at the meeting. During the discussion period that follows the meeting, they'll be able to answer appropriate questions. Before proceeding to the official business of the meeting, I'd like to advise you that the agenda and the meeting rules and procedures that we will be following today are posted on the virtual meeting site for your review. If you wish to submit a question for consideration at the discussion period at the conclusion of the meeting, you may do so by clicking the messages icon, typing it into the Ask a Question field on your screen, and clicking Submit. Please limit yourself to one question so that we can answer as many pertinent stockholder questions as time permits. Maryanne Lavan has advised me that the notice of this meeting, the proxy statement, and the annual report were duly and properly distributed to all stockholders of record as of February 26, 2021, and that the affidavit to that effect will be filed with the records of this meeting. The inspector's preliminary report shows that more than 246 million shares, or more than 88% of the shares outstanding and entitled to vote, are represented here today. This meets the quorum requirement of our bylaw, and we may proceed with today's meeting. Today's meeting will focus on five proposals described in the proxy statement. The proposals are the election of 11 directors, the ratification of the appointment of Ernst & Young LLP as the corporation's independent auditors, an advisory vote to approve the compensation of our named executive officers in the proxy statement, and two stockholder proposals. Three members of our management team, Maryanne Lavan, Kenneth Possenriede, and myself, have been appointed proxies by holders of at least 246 million shares, and we have voted these shares in accordance with the instructions of those stockholders. Stockholders who wish to vote during the meeting may do so throughout the meeting until I announce that the polls have been closed. If you have already voted by proxy, there's no need to vote during the meeting unless you wish to change your vote. We'll turn now to the official business of the meeting. Proposal one, the nomination of 11 directors to serve on the board of directors. The detailed biographies of all of our director nominees are presented on pages 13 through 16 of the proxy statement. Proposal two is a ratification of the appointment of Ernst & Young LLP as our independent auditors for 2021. Proposal three is the advisory vote to approve the compensation of our named executive officers. Proposal four is a stockholder proposal offered by John Chevedden. The proposal requests that the corporation adopt stockholder action by written consent. Stockholder proposal four and the board's opposition statement are presented on pages 81 and 82 of the proxy statement. Proposal five is a stockholder proposal offered by the Sisters of Charity of Saint Elizabeth, the Sisters of St. Francis of Philadelphia and the School Sisters of Notre Dame Cooperative Investment Fund. Proposal five requests that the corporation issue a report on our human rights due diligence. Stockholder proposal five and the board's opposition statement are presented on pages 83 and 84 of the proxy statement. Mr. Chevedden and Sister Nora Nash, a Sister of St. Francis of Philadelphia, are on the phone today to present their respective proposals. Operator, we are ready for Mr. Chevedden. Mr. Chevedden's line is active. Hello, this is John Chevedden. Can you hear me okay? Yes, Mr. Chevedden. Would you please introduce proposal four? Just as a point of order, it's not possible to get into this meeting with a 16-digit control number following instructions at the beginning of the meeting. That is all the more reason to vote for proposal four, Shareholder Right to Act by Written Consent. Shareholders request that our board of directors take the necessary steps to permit written consent by shareholders entitled to cast the minimum number of votes that would be necessary to authorize an action at a meeting at which all shareholders entitled to vote thereon were present and voting. Taking action by written consent in place of a meeting is a means shareholders can use to raise important matters outside the normal annual meeting cycle, like the election of a new director. This proposal will give shareholders the safeguard that management will elect the best directors because it gives shareholders an opportunity to elect a replacement director for a bad apple director on our board. It is also more important than ever to be able to replace a director through written consent because it is now almost impossible to remove a Lockheed Martin director otherwise, because a director can be removed only for cause. Removal only for cause is a euphemistic way to say that a director has near immunity to being removed. This proposal topic won outstanding 47% support at the 2020 Lockheed Martin Annual Meeting. This 47% support represented a majority vote from the shares that have access to objective proxy voting advice. The negative management reaction to this 47% support was to circle the wagons and oppose it all the more. Management now has a campaign to get out the vote from the shareholders who do not have access to objective proxy voting advice because shareholders who lack good relevant information vote according to the management recommendation. The management reaction to a near majority shareholder vote is like the Amazon reaction to employees trying to form a union. This shoots a big hole in the management claim that in the annual meeting materials, the management has genuine shareholder engagement. At Lockheed Martin, shareholder engagement seems to be a sales program to get shareholders to agree with management in lockstep. The so-called deliberations of the Lockheed Martin board on this topic in 2020 with Mr. Daniel Akerson as the governance committee chairman, apparently completely overlooked the safeguards that can be built into granting shareholders a right to act by written consent. Plus, the 2020 shareholder proposal on this topic could not foresee that the pandemic would severely restrict a future special shareholder meeting, which could simply be a bare bones online meeting with restricted interaction, as is the case today. The governance committee under Mr. Akerson rested a lot of its argument on the outdated notion of what could be accomplished at a special shareholder meeting. This is evidence that Mr. Akerson is not effective as lead director. Shareholders now need to have the option to vote more than ever to take action outside of a shareholder meeting, since online shareholder meetings are a shareholder engagement wasteland. If you voted against this proposal, please change your vote. Shareholder right to act by written consent, proposal four. Thank you, Mr. Chevedden. Operator, you may now put Mr. Chevedden's line back on mute. Mr. Chevedden's line is muted. Thank you, operator. We're ready now for Sister Nash. Sister Nash's line is active. Yes. Good morning, Mr. Chairman. Can you hear me? Yes. Good morning, Sister Nash. Would you please introduce proposal five? Yes. Thank you, and happy Earth Day to all. I speak to the members of the board, shareholders, and guests. I am Sister Nora Nash. I represent the Sisters of St. Francis of Philadelphia. I am here today to move the shareholder proposal number five, calling for human rights due diligence, which my congregation filed in collaboration with the Sisters of Charity of Saint Elizabeth and the School Sisters of Notre Dame Cooperative Investment Fund. We encourage all shareholders to support this proposal. Over the past 15 years, we have had numerous communications with Lockheed Martin on a variety of topics. We are grateful for impactful engagements on EEO, diversity and inclusion, and water. However, our engagement on impact related to human rights have fallen short of the norms for global peace and justice. As Catholic religious institutions in a society struggling with excessive violence, we assert that there is a clear moral responsibility for Lockheed Martin and its investors to acknowledge the direct role that the defense industry plays in perpetuating human rights harms in war and conflict, and that all actors must contribute to appropriate remedies. The most severe human rights impacts of Lockheed Martin's defense industry are irremediable and result in the loss of life. We therefore offer this proposal, supported by strong legal and financial risk assessments, to Lockheed Martin and its shareholders as an invitation to deeply examine the business model in the context of its human rights responsibilities so that leadership and vision be advanced to reduce the company's business activities that cause death and destruction, and that Lockheed Martin may instead have a purpose to contribute to a more positive vision of society. The company's history and current practice of pursuing contracts with clear human rights risks signals a disconnect between policy and practice and a failure to address the company's human rights responsibilities to its business practices. The company's weapons, defense technologies, and surveillance systems are used by governments in time of war and conflict and also contribute to increased militarization of our nation's borders and surveillance that disproportionately harms immigrants and people of color. Lockheed Martin has a responsibility to assess how its products may contribute to adverse human rights impacts and to take steps to prevent harm. If Lockheed Martin's products and services were used by a government customer to commit human rights violations, the company may face serious legal, reputational, and financial risks. The company has come under scrutiny for pursuing contracts that put your business at risk of contributing to human rights abuses. On behalf of all the proponents, I again urge all Lockheed Martin shareholders to support the proposal on human rights due diligence and encourage the company to implement the request of the proposal. We remain ready to continue our engagement with you, and will continue to urge you to make progress on these very, very important issues. Thank you. Thank you, Sister Nash. Operator, you may now put Sister Nash's line back on mute. Sister Nash's line is muted. Thank you. With all five proposals properly presented, I will pause now briefly before closing the polls to allow those online to complete their voting. I now declare the polls closed. At this time, I'd like to announce the preliminary voting results on the five proposals presented today. The official results will be announced by the filing of a Form 8-K within four business days. Proposal one, each of the 11 director nominees has been elected to the board of directors. Proposal two, the appointment of Ernst & Young LLP as our independent auditors for 2021 has been ratified. Proposal three, the compensation of our named executive officers has been approved on an advisory basis. Proposal four, the stockholder proposal to adopt action by written consent has been rejected. Proposal five, the stockholder proposal to issue a report on human rights due diligence has been rejected. This concludes the official business of our meeting today, and the meeting is now adjourned. We'll now open the meeting to questions or comments from our stockholders. We will answer as many questions as we can during the meeting. I'll now turn to Greg Gardner, our Vice President of Investor Relations, to moderate the Q&A. Greg? Thank you, Jim. As a reminder to those on the call, if you have not already submitted a question, you may do so by clicking the messages icon, typing it into the ask a question field on your screen, and clicking send. The first question comes from Felicia Smith. Mr. Taiclet, in future virtual shareholder meetings, will you commit to provide a video feed of the board and senior management? As the COVID-19 crisis continues to evolve, our first priority is the safety of our directors, employees, and management, as well as our stockholders. We will evolve our annual meeting program in accordance with government guidelines and with the latest safety practices recommended by the CDC going forward. It may or may not be feasible to have all of our directors in the same room for a video feed. We'll consider that as we go forward. Our next question comes from David Brett. Mr. Chairman, the topic of stakeholder capitalism as an alternative to shareholder capitalism has received considerable attention recently. As long-term pension fund investors, the Carpenter Funds appreciate the sentiment embodied in the stakeholder capitalism perspective, but feel that execution could be complicated. Could you discuss the board's perspective on the concept of stakeholder capitalism and what principles the board would use to balance the interest of varied stakeholders as it develops and implements the company's long-term business strategy? Thank you, Mr. Chairman. Of course. Lockheed Martin's approach to governance and on operation has long been a stakeholder capital perspective. We do care for shareholders, of course. We try to get the best return for them on their investment. We pay a robust and growing dividend. In addition to that, we have, again, the safety and well-being of our employees as a top priority of this company. We also have the development of our employees training and a robust pension plan for their retirement in place for many of the employees of Lockheed Martin. We also have a fair savings plan for those to augment their retirement savings. In addition to that, the company has always been involved in the community, been a charitable donor in places where we work, and causes that we all believe in. I do believe that as far as stakeholder capitalism, including our approach to environmental stewardship, has been in place at the company. We codified this by signing on to the Business Roundtable Statement of a Purpose of a Corporation last year as well. We'll continue to address all of our stakeholders' needs and do the best we can for each and every group. Our next question comes from Mr. Whitehead. Will management commit to not coercing our employees into getting the COVID vaccine? Again, the safety of our employees is our highest priority, actually, in operations at the company. We'll go with the guidance of the CDC and other authorities as we roll out our continued COVID-19 operational plan. We will also respect our employees' wishes to the extent that it's feasible and possible given those circumstances. Our next question comes from Victoria Elson. In January of this year, the Nobel Peace Prize-winning Treaty on the Prohibition of Nuclear Weapons entered into force as international law in the first 50 ratifying countries. 85 more countries support the treaty and may ratify in the near future. Nuclear weapons are a highly profitable but profoundly dangerous and immoral industry. As this product is now illegal under international law, will you adapt by converting nuclear weapon scientists to green technologies and other pressing human needs? We will respond as we always have to our customers' needs, and our primary customer is the citizens of the United States, as represented by their Department of Defense and of those of our allies. If our government decides to continue to maintain nuclear weapons capability as a deterrent to war, we'll continue to support them as we are able. It appears there are no additional questions today. I will turn it back over to you, Jim. Thank you, Greg, and thank you to everyone that's joined us on our call today. This concludes our meeting, and I do want to express my appreciation to everyone on the line. Thank you and have a great day. This concludes the meeting. You may now disconnect.