Form 4: Lincoln National Corp Director Reginald E. Davis Acquires Phantom Stock Units

Director Reginald E. Davis acquired phantom stock units in Lincoln National Corp through a deferred compensation plan and dividend reinvestment.

Summary

• Reginald E. Davis, a director of Lincoln National Corp (LNC), reported a transaction involving phantom stock units.
• On March 31, 2025, Davis acquired 1,253.13 phantom stock units as part of a quarterly payment of board retainer and fees under the Deferred Compensation Plan for Non-Employee Directors.
• These units are equivalent to shares of LNC common stock and are payable upon resignation or retirement.
• The price per share for this acquisition was $35.91.
• Davis also acquired 294.37 shares through dividend reinvestment since the last report.
• Following the reported transactions, Davis beneficially owns 23,729.97 shares of LNC common stock.

Sentiment

Score: 6

Explanation: Neutral sentiment as the document reports routine transactions related to director compensation and stock ownership. No significant positive or negative implications are apparent.

Positives

• The acquisition of phantom stock units reflects continued alignment of director compensation with company performance.
• Dividend reinvestment indicates a long-term investment perspective by the director.

Industry Context

Director stock ownership is a common practice in publicly traded companies to align the interests of directors with those of shareholders. Phantom stock plans are often used as part of deferred compensation arrangements.

Stakeholder Impact

• The reported transactions may have a minor positive impact on shareholder confidence due to the director's increased stake in the company.

Key Dates

Keywords

Lincoln National Corp, Director, Reginald E. Davis, Phantom Stock Units, Deferred Compensation Plan, Dividend Reinvestment, Beneficial Ownership, LNC