Form 4: Lincoln National Corp Director Acquires Phantom Stock Units

Director Eric G. Johnson acquires phantom stock units in Lincoln National Corp through a deferred compensation plan.

Summary

• On September 30, 2024, Eric G. Johnson, a director of Lincoln National Corp, acquired 1,428.12 phantom stock units.
• These units were obtained through the Deferred Compensation Plan for Non-Employee Directors.
• Each phantom stock unit is equivalent to one share of LNC Common Stock.
• The acquisition price is $31.51 per unit.
• Following the transaction, Johnson directly owns 82,455.04 shares, which includes 1,056.87 shares acquired through dividend reinvestment since the last report.

Sentiment

Score: 7

Explanation: Routine insider transaction; positive as it aligns director interests with shareholders.

Positives

• The acquisition of phantom stock units aligns the director's interests with the company's performance.
• Dividend reinvestment indicates a long-term investment perspective.

Future Outlook

The phantom stock units are payable solely in shares of the company's common stock at resignation or retirement, aligning director compensation with long-term company performance.

Industry Context

Form 4 filings are standard practice for reporting changes in beneficial ownership by company insiders, providing transparency to investors.

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 signals confidence from a director in the company's future performance, potentially reassuring shareholders.

Key Dates