Form 4: Lincoln National Executive Sells Shares for Tax

Brian Kroll, EVP and Head of Life & Annuities at Lincoln National Corp, reported a disposition of 861 common shares for tax liability.

Summary

• Brian Kroll, Executive Vice President and Head of Life & Annuities at Lincoln National Corp (LNC), filed a Form 4.
• The filing reports a transaction on November 24, 2025, involving the company's common stock.
• Kroll disposed of 861 shares of common stock at a price of $40.34 per share.
• This disposition was made under transaction code 'F', indicating a payment of tax liability by delivering or withholding securities.
• Following this transaction, Kroll beneficially owns 49,441.97 shares of common stock.
• The total beneficial ownership includes 546.85 shares acquired through dividend reinvestment since the reporting person's last report.

Sentiment

Score: 5

Explanation: The transaction is a routine disposition of shares to cover tax liabilities, which is a common occurrence for executives receiving equity compensation. The inclusion of shares acquired through dividend reinvestment is a minor positive, balancing the routine disposition.

Positives

• The reporting person acquired 546.85 shares through dividend reinvestment, indicating continued ownership growth through dividends.

Negatives

• Disposition of 861 shares of common stock, reducing direct beneficial ownership, although for tax purposes.

Future Outlook

NA

Industry Context

NA

Stakeholder Impact

• Shareholders: A routine disposition of shares by an executive to cover tax liabilities, which is a common practice for equity compensation. The reporting person also acquired shares through dividend reinvestment, indicating continued participation in the company's performance.

Key Dates

Recommendation

The filing details a routine insider transaction where an executive disposed of shares to cover tax liabilities, a common practice for equity compensation. This type of transaction, especially given the relatively small number of shares compared to total holdings and the inclusion of dividend reinvestment, does not typically signal a change in the company's fundamental outlook or warrant a shift from a 'hold' recommendation based solely on this filing.

Keywords

Lincoln National Corp, LNC, Form 4, Insider Transaction, Brian Kroll, Stock Sale, Tax Withholding, Executive Compensation, Dividend Reinvestment