Form 4: Lincoln National Corp Director Acquires Phantom Stock Units

Director Reginald E. Davis acquired phantom stock units equivalent to 1,428.12 shares of Lincoln National Corp common stock on September 30, 2024, as part of a quarterly payment of board retainer and fees.

Summary

• Reginald E. Davis, a director of Lincoln National Corp (LNC), acquired 1,428.12 phantom stock units on September 30, 2024.
• These units are equivalent to shares of LNC common stock and were received as a quarterly payment of board retainer and fees under the Deferred Compensation Plan for Non-Employee Directors.
• The price per share was $31.51.
• Following the transaction, Davis directly owns 20,488.3 shares of LNC, which includes 248.61 shares acquired through dividend reinvestment since the last report.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. The director's acquisition of phantom stock units indicates alignment with shareholder interests. It's a routine transaction, but it reflects ongoing confidence.

Positives

• The acquisition of phantom stock units reflects continued alignment of the director's interests with those of the shareholders.
• Dividend reinvestment further increases the director's stake in the company.

Future Outlook

The reporting person may transfer his/her phantom stock account into an alternative investment account at any time. 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 standard practice and provide transparency into the transactions of company insiders, which can be an indicator of management's confidence in the company's prospects.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding director compensation and ownership.

Key Dates