Form 4: Director Lynn M. Utter Acquires Phantom Stock Units in Lincoln National Corp (LNC)

Director Lynn M. Utter acquired phantom stock units in Lincoln National Corp (LNC) as part of a deferred compensation plan.

Summary

• On March 31, 2025, Lynn M. Utter, a director of Lincoln National Corp (LNC), acquired 2,018.94 phantom stock units.
• These units were obtained as a quarterly payment of board retainer and fees under the Deferred Compensation Plan for Non-Employee Directors.
• The phantom stock units are equivalent to shares of LNC common stock and are payable upon resignation or retirement.
• The price per share was $35.91.
• Following the transaction, Utter beneficially owns 58,062.37 shares, which includes 733.98 shares acquired through dividend reinvestment since the last report.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to director compensation, indicating stability and alignment of interests. The sentiment is neutral to slightly positive.

Positives

• The acquisition of phantom stock units reflects continued director engagement and investment in the company's future.
• Dividend reinvestment indicates a long-term investment strategy by the director.

Future Outlook

The phantom stock units will be payable in shares of the company's common stock upon the director's resignation or retirement.

Industry Context

Directors often receive stock-based compensation as part of their overall remuneration, aligning their interests with those of shareholders.

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.
• It reinforces the alignment of director interests with shareholder value.

Key Dates

Keywords

phantom stock units, director, LNC, Lincoln National Corp, beneficial ownership, deferred compensation, Form 4