Form 4: Lincoln National Corp Director Janet Liang Acquires Phantom Stock Units

Director Janet Liang acquired 2,286.35 phantom stock units of Lincoln National Corp through a quarterly payment of board retainer and fees.

Summary

• On December 31, 2024, Janet Liang, a director of Lincoln National Corp, acquired 2,286.35 phantom stock units.
• The acquisition was part of a quarterly payment of board retainer and fees in shares of phantom stock accrued 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 $31.71.
• Following the transaction, Liang's direct ownership includes 29,222.17 shares, which includes 356.82 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 their Phantom Stock account into an alternative investment account at any time.

Sentiment

Score: 5

Explanation: This is a routine transaction and disclosure, with no particularly positive or negative implications.

Future Outlook

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

Industry Context

This is a routine disclosure of insider transactions, specifically the acquisition of phantom stock units by a director as part of their compensation. It's common for companies to offer stock-based compensation to align the interests of directors and shareholders.

Key Dates