Form 4: Lincoln National Corp Director Michael Mee Reports Phantom Stock Unit Acquisition

Director Michael Mee reports acquisition of phantom stock units and dividend reinvestment shares in Lincoln National Corp.

Summary

• On June 30, 2024, Michael Mee, a director of Lincoln National Corp (LNC), acquired 1,728.3 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 reporting person may transfer his/her phantom stock account into an alternative investment account at any time.
• Additionally, Mr. Mee acquired 1,708.26 shares through dividend reinvestment since his last report.
• Following these transactions, Mr. Mee beneficially owns 113,053.71 shares of LNC common stock.

Sentiment

Score: 7

Explanation: The document reflects standard compensation practices and insider ownership, suggesting stability and alignment of interests. It's a neutral to slightly positive indicator.

Positives

• The acquisition of phantom stock units and dividend reinvestment shares demonstrates continued alignment of the director's interests with those of the shareholders.

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

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies. It provides transparency into the holdings and transactions of company directors.

Comparison to Industry Standards

• Director compensation packages often include stock or stock-based awards to align their interests with shareholders, similar to practices at companies like Prudential Financial and MetLife.
• Dividend reinvestment programs are standard offerings at many publicly traded companies, including those in the financial services sector.

Stakeholder Impact

• The disclosure provides transparency to shareholders regarding director compensation and ownership.

Key Dates