Form 4: Lincoln National Corp Director Acquires Phantom Stock Units

Director Owen Ryan acquired phantom stock units in Lincoln National Corp through a deferred compensation plan.

Summary

• On December 31, 2024, Owen Ryan, a director of Lincoln National Corp (LNC), acquired 2,365.18 phantom stock units.
• These units were obtained through a quarterly payment of board retainer and fees 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 unit was $31.71.
• Following the transaction, Ryan directly owns 13,004.27 shares, including 140.94 shares acquired through dividend reinvestment since the last report.
• 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.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine disclosure of a transaction related to director compensation. The acquisition of phantom stock units can be seen as a positive sign of confidence, but it's not a major event.

Positives

• The acquisition of phantom stock units by a director signals confidence in the company's future performance.
• The Deferred Compensation Plan aligns the interests of non-employee directors with those of shareholders.

Future Outlook

The phantom stock units are payable solely in shares of the company's common stock at resignation or retirement.

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency regarding the transactions of company insiders. This filing indicates a director's continued investment in the company.

Related Party Transactions

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

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director interests with company performance.

Key Dates