Form 4: Director LeFebvre Acquires Phantom Stock Units in Lincoln National Corp (LNC)

Director Dale LeFebvre acquired phantom stock units in Lincoln National Corp through a quarterly payment of board retainer and fees.

Summary

• On March 31, 2025, Director Dale LeFebvre acquired 1,253.13 phantom stock units of Lincoln National Corp (LNC) at a price of $35.91 per unit.
• These units were obtained through a quarterly payment of board retainer and fees, accrued under the Deferred Compensation Plan for Non-Employee Directors.
• Following the transaction, LeFebvre directly owns 22,964.14 shares, which includes 284.34 shares acquired through dividend reinvestment since the last report.
• Each phantom stock unit is equivalent to one share of LNC Common Stock and is payable solely in shares of the company's common stock at resignation or retirement.
• The reporting person may transfer his/her Phantom Stock account into an alternative investment account at any time.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating a neutral to slightly positive sentiment as it aligns director interests with company performance.

Future Outlook

The phantom stock units are payable solely in shares of the company's common stock at resignation or retirement. 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 non-employee directors, aligning their interests with the long-term performance of the company through equity-based compensation.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders, promoting long-term value creation.

Key Dates

Keywords

phantom stock units, LNC, Lincoln National Corp, director, beneficial ownership, Form 4, LeFebvre, Deferred Compensation Plan