Form 4: Director Deirdre P. Connelly Acquires Phantom Stock Units in Lincoln National Corp (LNC)

Deirdre P. Connelly, a director of Lincoln National Corp, acquired phantom stock units representing deferred compensation and reinvested dividends.

Summary

• On June 30, 2024, Deirdre P. Connelly, a director of Lincoln National Corp (LNC), acquired 1,446.95 phantom stock units.
• These units were acquired as a quarterly payment of board retainer and fees in shares of phantom stock accrued under the Deferred Compensation Plan for Non-Employee Directors.
• Each phantom stock unit is equivalent to one share of LNC Common Stock.
• The price per share was $31.1.
• Connelly also acquired 535.03 shares through dividend reinvestment since the last report.
• Following these transactions, Connelly beneficially owns 34,904.38 shares of LNC.

Sentiment

Score: 6

Explanation: The document reflects routine director compensation and dividend reinvestment, indicating a neutral sentiment.

Future Outlook

The phantom stock units are payable solely in shares of the Company's common stock at resignation or retirement, and the reporting person may transfer his/her Phantom Stock account into an alternative investment account at any time.

Industry Context

This filing reflects routine compensation practices for board members, aligning their interests with shareholders through equity-based compensation.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.

Key Dates