Report: Retiring Lockheed Execs To Receive $1.2 Million Bonuses

Two top retiring executives at the Bethesda-based Lockheed Martin Corp. will receive $1.2 million each in bonuses, according to a Washington Business Journal report.

Lockheed executive vice president of Space Systems Joanne Maguire and executive vice president of Information Systems and Global Solutions Linda Gooden will receive the bonuses, according to the report, which cited a Securities and Exchange Commission filing.

Neither will receive severance or termination benefits beyond the bonuses, according to the report. Both will stay on as employees through May 1.

Gooden will also be reimbursed for penalties owed to the Internal Revenue Service after Lockheed mistakenly distributed a long-term incentive award she had chosen to defer.

Read the full report at the Washington Business Journal.