Form 4: Lincoln National Corp Director Ellen Cooper Receives Stock Grants

Ellen Cooper, a Director and President & CEO of Lincoln National Corp, received grants of restricted stock units on February 19, 2025.

Summary

• On February 19, 2025, Ellen Cooper, a Director and the President & CEO of Lincoln National Corp (LNC), was granted restricted stock units.
• The first grant was for 108,012 restricted stock units, which vest on February 19, 2028.
• The second grant was for 92,143 restricted stock units, vesting in three tranches: 25% on February 19, 2028, 25% on February 19, 2029, and 50% on February 19, 2030.
• Following these transactions, Ms. Cooper directly owns 538,244.7 shares of LNC common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, which is generally viewed neutrally to positively as it aligns management and shareholder interests. The vesting schedule suggests a long-term commitment.

Positives

• The grant of restricted stock units to the CEO aligns her interests with those of the shareholders, incentivizing long-term value creation.

Future Outlook

The restricted stock units vest over a period of several years, indicating a long-term commitment by the executive to the company's success.

Industry Context

Stock grants are a common form of executive compensation in the financial services industry, aligning management's interests with those of shareholders.

Comparison to Industry Standards

• Executive compensation packages, including stock grants, are typical in the insurance industry among companies like Prudential Financial, MetLife, and AIG.
• The vesting schedules are fairly standard, with multi-year vesting periods to incentivize long-term performance.

Stakeholder Impact

• The stock grants align the CEO's interests with those of shareholders, potentially leading to increased shareholder value.
• Employees may view the stock grants positively, as they indicate confidence in the company's future.

Key Dates