Form 4: Lincoln National Corp Director Janet Liang Reports Acquisition of Phantom Stock Units

Director Janet Liang reports acquisition of phantom stock units and shares through dividend reinvestment in Lincoln National Corp.

Summary

• On June 30, 2024, Janet Liang, a director of Lincoln National Corp (LNC), acquired 2,331.19 phantom stock units.
• 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 was $31.1 per share.
• Liang also acquired 345.90 shares through dividend reinvestment since the last report.
• Following these transactions, Liang beneficially owns 23,961.48 shares of LNC common stock.

Sentiment

Score: 7

Explanation: The document reflects standard director compensation practices and dividend reinvestment, indicating a stable and ongoing relationship between the director and the company. No negative information is present.

Positives

• The acquisition of phantom stock units reflects continued director compensation and investment in the company.
• Dividend reinvestment indicates a long-term commitment to Lincoln National Corp.

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 often receive stock-based compensation as part of their overall remuneration, aligning their interests with those of shareholders. Dividend reinvestment is a common practice among long-term investors.

Stakeholder Impact

• The acquisition of phantom stock units aligns the director's interests with those of shareholders.
• Dividend reinvestment demonstrates confidence in the company's future performance.

Key Dates