Form 4: Lincoln National Corp Executive Andrew Rallis Reports Stock Disposal for Tax Withholding

EVP and Chief Risk Officer of Lincoln National Corp, Andrew Rallis, reports disposing of shares to cover tax obligations upon vesting of restricted stock units.

Summary

• Andrew Rallis, EVP and Chief Risk Officer of Lincoln National Corp, filed a Form 4 on May 28, 2024.
• The report details a transaction on May 24, 2024, where 5,122 shares of common stock were disposed of at a price of $32.66.
• This disposal was related to tax withholding upon the vesting of restricted stock units.
• Following the transaction, Rallis beneficially owns 142,641.9 shares of Lincoln National Corp.
• This total includes 2,364.31 shares acquired through dividend reinvestment since the last report.

Sentiment

Score: 5

Explanation: The sentiment is neutral as the filing relates to a routine transaction for tax purposes. It doesn't indicate a positive or negative outlook for the company.

Industry Context

Form 4 filings are standard disclosures required by the SEC when company insiders, like executives and directors, trade their company's stock. These filings provide transparency into insider transactions and can be monitored by investors for insights into management's perspective on the company's value and future prospects.

Comparison to Industry Standards

• Form 4 filings are a standard regulatory requirement for publicly traded companies in the United States, ensuring transparency in insider trading activities.
• Companies like Prudential Financial (PRU) and MetLife (MET) also have their executives file similar reports when they engage in transactions involving their company's stock.
• The disposal of shares for tax withholding purposes is a common practice among executives who receive stock-based compensation.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine disposal for tax purposes and does not reflect a change in the executive's long-term outlook on the company.

Key Dates