Form 4: Lincoln National Corp Director Ryan Owen Reports Acquisition of Phantom Stock Units

Director Ryan Owen reports acquisition of phantom stock units in Lincoln National Corp through a deferred compensation plan.

Summary

• Director Ryan Owen filed a Form 4 reporting changes in beneficial ownership of Lincoln National Corp (LNC) securities.
• The report indicates the acquisition of 2,088.55 phantom stock units on March 31, 2025, through a deferred compensation plan.
• Each phantom stock unit is equivalent to one share of LNC common stock.
• The phantom stock units were acquired as a quarterly payment of board retainer and fees.
• The price per phantom stock unit is $35.91.
• Following the reported transaction, Owen beneficially owns 15,265.39 derivative securities.
• The report also includes 172.57 shares acquired through dividend reinvestment since the last report.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices and continued investment by a director.

Positives

• The acquisition of phantom stock units aligns the director's interests with those of the shareholders.
• Dividend reinvestment indicates a continued investment in the company's future.

Future Outlook

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

Industry Context

This filing is a routine disclosure related to director compensation and stock ownership, common in publicly traded companies.

Related Party Transactions

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

Stakeholder Impact

• The transaction has a minimal direct impact on stakeholders, primarily reflecting internal compensation arrangements.

Key Dates

Keywords

Form 4, beneficial ownership, phantom stock units, director, Ryan Owen, Lincoln National Corp, LNC, deferred compensation, dividend reinvestment