Form 4: Lincoln National EVP Disposes of Shares for Tax Withholding, Corrects Prior Holdings

Lincoln National Corp's EVP and Chief Investment Officer, Jayson R. Bronchetti, reported the disposition of 815 shares for tax withholding purposes and corrected an administrative error in previously reported holdings, while also disclosing new shares acquired through dividend reinvestment.

Summary

• Jayson R. Bronchetti, EVP and Chief Investment Officer of Lincoln National Corp (LNC), reported a transaction on May 26, 2025.
• He disposed of 815 shares of common stock at a price of $32.38 per share.
• This disposition was for tax withholding upon the vesting of restricted stock units.
• Following this transaction, Mr. Bronchetti directly beneficially owns 77,219.68 shares of common stock.
• This direct ownership figure includes a correction for an administrative error that had overstated prior reported shares by 125.68 shares.
• It also includes 981.27 shares acquired through dividend reinvestment since his last report.
• Additionally, Mr. Bronchetti indirectly beneficially owns 10,129.66 shares of common stock through the Company's 401(k) Plan as of May 1, 2025.

Sentiment

Score: 5

Explanation: The sentiment is neutral. A Form 4 filing for tax withholding is a routine and expected event for executives receiving equity compensation. The correction of a minor administrative error, while noting a past inaccuracy, is a positive step for transparency and does not indicate a negative operational or financial issue for the company.

Positives

• The reporting person continues to hold a significant number of shares directly (77,219.68) and indirectly (10,129.66 via 401(k) plan), indicating continued alignment with shareholder interests.
• The company proactively corrected an administrative error in prior share reporting, demonstrating transparency and accuracy in disclosures.
• The acquisition of 981.27 shares through dividend reinvestment indicates continued investment in the company by the reporting person.

Negatives

• The disposition of 815 shares, while for tax withholding, represents a reduction in direct ownership.
• An administrative error led to an overstatement of 125.68 shares in prior reports, indicating a past reporting inaccuracy, though now corrected.

Future Outlook

The document does not contain any forward-looking statements or guidance.

Industry Context

This Form 4 filing is a routine disclosure of an insider transaction (tax withholding related to equity compensation) for Lincoln National Corp. It does not provide broader industry context or trends, as it is specific to an individual's share movements.

Stakeholder Impact

• Shareholders: The disposition of shares for tax withholding is a routine event and generally has minimal direct impact on shareholders, as it's not a discretionary sale. The correction of prior reporting enhances data accuracy for investors.
• Employees: The transaction relates to executive compensation, which is part of the broader employee compensation structure, but has no direct impact on general employees.

Key Dates

Keywords

Lincoln National Corp, LNC, SEC Form 4, Insider Trading, Stock Disposition, Tax Withholding, Restricted Stock Units, Dividend Reinvestment, Jayson R. Bronchetti, Chief Investment Officer, Executive Compensation, Beneficial Ownership