Form 4: Lincoln National Corp Director Acquires Phantom Stock Units

Director Deirdre P. Connelly acquired phantom stock units in Lincoln National Corp through a deferred compensation plan.

Summary

• On September 30, 2024, Deirdre P. Connelly, a director of Lincoln National Corp (LNC), acquired 1,428.12 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 share was $31.51.
• Following the transaction, Connelly directly owns 36,793.79 shares, which includes 461.29 shares acquired through dividend reinvestment since the last report.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive. It reflects standard compensation practices and alignment of director interests with shareholders.

Positives

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.
• 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, and the reporting person may transfer his/her Phantom Stock account into an alternative investment account at any time.

Industry Context

Directors receiving stock-based compensation is a common practice in publicly traded companies to align their interests with shareholders. The specifics of the deferred compensation plan are particular to Lincoln National Corp.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders, potentially leading to decisions that benefit the company's long-term value.

Key Dates