BETHESDA, Md., Sept. 25, 2014 /PRNewswire/ — The Lockheed Martin Corporation (NYSE: LMT) board of directors has authorized the purchase of up to an additional $2.0 billion of Lockheed Martin common stock under its share repurchase program. The number of shares purchased and the timing of purchases are at the discretion of management and subject to compliance with applicable law and regulation.

Headquartered in Bethesda, Maryland, Lockheed Martin is a global security and aerospace company that employs approximately 113,000 people worldwide and is principally engaged in the research, design, development, manufacture, integration and sustainment of advanced technology systems, products and services. The Corporation’s net sales for 2013 were $45.4 billion.

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SOURCE Lockheed Martin