Form 4: Lincoln National Corp Director William H Cunningham Dr. Reports Acquisition of Phantom Stock Units

Director William H Cunningham Dr. reports acquiring phantom stock units in Lincoln National Corp through a deferred compensation plan.

Summary

• On September 30, 2024, William H Cunningham Dr., a director of Lincoln National Corp (LNC), acquired 1,904.16 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 unit was $31.51.
• Following the transaction, Cunningham directly owns 171,056.31 shares, which includes 2,206.33 shares acquired through dividend reinvestment since the last report.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine transaction related to director compensation. The director's continued investment is a mildly positive signal.

Positives

• The acquisition of phantom stock units by a director can be seen as a positive sign, indicating confidence in the company's future performance.
• The director's participation in the Deferred Compensation Plan aligns their interests with those of the shareholders.

Future Outlook

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

Industry Context

Form 4 filings are routine disclosures required by the SEC to provide transparency into the transactions of company insiders. This filing indicates the director's ongoing investment in the company through participation in the deferred compensation plan.

Stakeholder Impact

• The transaction could have a minor positive impact on shareholder sentiment due to the director's continued investment in the company.

Key Dates