Form 4: Lincoln National Corp Director Leanne Lachman Reports Acquisition of Phantom Stock Units

Director Leanne Lachman reports acquiring phantom stock units equivalent to 1,253.13 shares of Lincoln National Corp common stock through a deferred compensation plan.

Summary

• Leanne Lachman, a director of Lincoln National Corp (LNC), filed a Form 4 on April 02, 2025, reporting a transaction that occurred on March 31, 2025.
• The transaction involved the acquisition of 1,253.13 phantom stock units, each equivalent to one share of LNC common stock.
• These units were acquired as a quarterly payment of board retainer and fees under the Deferred Compensation Plan for Non-Employee Directors.
• The price per share was $35.91.
• Following the transaction, Lachman's direct ownership includes 34,139.77 shares, which includes 430.70 shares acquired through dividend reinvestment since the last report.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive as it reflects standard director compensation practices and continued investment in the company through dividend reinvestment.

Positives

• The acquisition of phantom stock units reflects continued director compensation and alignment with shareholder interests.
• The director also acquired 430.70 shares through dividend reinvestment, showing confidence in the company's future.

Future Outlook

The phantom stock units are payable solely in shares of the company's common stock at resignation or retirement, aligning director compensation with long-term company performance.

Industry Context

Director compensation in the form of stock and phantom stock units is a common practice in publicly traded companies to align the interests of directors with those of shareholders.

Related Party Transactions

• The acquisition of phantom stock units under the Deferred Compensation Plan for Non-Employee Directors constitutes a related party transaction.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders as it aligns director compensation with company performance.

Key Dates

Keywords

Form 4, Director, Phantom Stock Units, LNC, Lincoln National Corp, Deferred Compensation Plan, Beneficial Ownership