Form 4: Director Deirdre P. Connelly Increases Stake in Lincoln National Corp (LNC) Through Phantom Stock Acquisition

Deirdre P. Connelly, a director of Lincoln National Corp, acquired phantom stock units equivalent to 1,419.11 shares of LNC common stock on December 31, 2024, increasing her total holdings.

Summary

• On December 31, 2024, Deirdre P. Connelly, a director of Lincoln National Corp (LNC), acquired 1,419.11 phantom stock units.
• These units are equivalent to shares of LNC common stock and were obtained as a quarterly payment of board retainer and fees under the Deferred Compensation Plan for Non-Employee Directors.
• The price per share was $31.71.
• Following this transaction, Connelly's total beneficial ownership of LNC securities is 38,706.85 shares, which includes 493.95 shares acquired through dividend reinvestment since the last report.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction related to director compensation. The increased stake could be seen as a positive signal, but it's not a major market-moving event.

Positives

• The director's increased stake in the company could be interpreted as a sign of confidence in Lincoln National Corp's future performance.

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

Form 4 filings are routine disclosures required by the SEC to ensure transparency in insider trading activities. They provide insights into the actions of company directors and officers, which can be informative for investors.

Related Party Transactions

• The acquisition of phantom stock units under the Deferred Compensation Plan for Non-Employee Directors constitutes a related party transaction.

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, as it is part of a pre-existing compensation plan.
• However, the increased stake of a director could be viewed positively by shareholders.

Key Dates