Form 4: Lincoln National Corp Director LeFebvre Acquires Phantom Stock Units

Director Dale LeFebvre acquired phantom stock units in Lincoln National Corp through a quarterly payment of board retainer and fees.

Summary

• On March 31, 2024, Dale LeFebvre, a director of Lincoln National Corp (LNC), acquired 1,409.33 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 $31.93.
• Following the transaction, LeFebvre beneficially owns 16,362.65 shares, which includes 249.31 shares acquired through dividend reinvestment since the last report.

Sentiment

Score: 7

Explanation: Director's acquisition of phantom stock units is generally a positive sign, indicating confidence in the company. The sentiment is moderately positive.

Positives

• The acquisition of phantom stock units by a director signals confidence in the company's future performance.
• Dividend reinvestment further increases the director's stake in the company.

Future Outlook

The phantom stock units are payable solely in shares of the Company's common stock at resignation or retirement. The reporting person may transfer his/her Phantom Stock account into an alternative investment account at any time.

Industry Context

Director stock acquisitions are common in publicly traded companies and are often seen as a positive sign, indicating management's belief in the company's future prospects. Phantom stock plans are used to align the interests of directors with those of shareholders.

Related Party Transactions

• The acquisition of phantom stock units is a related party transaction as it involves compensation to a director.

Stakeholder Impact

• The acquisition of phantom stock units by a director can positively influence shareholder sentiment.

Key Dates