That did it! Thank you so much, Rich. This will help me greatly. The corrected SPL is below so that others in the community can utilize it if needed now that the time is populating as intended.
source="WinEventLog:Security" (EventCode=4740 OR EventCode=644 OR EventCode=4625 OR EventCode=4771) user=*
| eval src_nt_host=coalesce(src_nt_host,host)
| eval lockout=if(EventCode==644 OR EventCode==4740,"Yes","No")
| eval time = if(lockout="Yes", _time, null())
| stats latest(_time) as time, latest(src_nt_host) as host, latest(lockout) as lockedout values(dest_nt_domain) as dest_nt_domain count(eval(EventCode=4625 OR EventCode=4771)) as count values(Source_Network_Address) as Source_Network_Address by user
| eval time=strftime(time,"%c")
| rename user to "User Name", Source_Network_Address to "IP Address", count to "Number of Failures"
| table dest_nt_domain "User Name" host lockedout time "IP Address" "Number of Failures"
... View more