Form 4: LNC Executive Sells Shares for Tax Withholding

Lincoln National Corp's EVP & General Counsel, Craig T. Beazer, disposed of 1,151 shares of common stock on December 5, 2025, for tax withholding purposes.

Summary

• Craig T. Beazer, Executive Vice President & General Counsel of Lincoln National Corp (LNC), reported a transaction involving company common stock.
• On December 5, 2025, Beazer disposed of 1,151 shares of LNC common stock.
• The transaction was for tax withholding upon the vesting of restricted stock units.
• The shares were disposed of at a price of $42.74 per share.
• Following this transaction, Beazer beneficially owns 96,331.82 shares of LNC common stock directly.
• The transaction was made pursuant to a Rule 10b5-1(c) plan.

Sentiment

Score: 5

Explanation: The filing reports a routine, non-discretionary insider transaction for tax withholding purposes, which is neutral in sentiment. It reflects compensation vesting but also a disposition of shares.

Positives

• The underlying event for the disposition was the vesting of restricted stock units, indicating compensation earned by the executive.
• The transaction was executed under a Rule 10b5-1(c) plan, suggesting a pre-arranged, non-discretionary sale.

Negatives

• An insider disposed of 1,151 shares of common stock, representing a reduction in their direct beneficial ownership.

Future Outlook

Not applicable, as this Form 4 reports a past insider transaction and does not provide forward-looking statements or guidance.

Industry Context

This is a routine insider transaction for tax withholding purposes, common across all industries for executives receiving equity compensation. It does not reflect broader industry trends or competitive positioning.

Comparison to Industry Standards

• This transaction is a standard practice for executives receiving equity compensation, where a portion of vested shares is sold to cover tax obligations. Such transactions are common across publicly traded companies and do not indicate any specific deviation from industry norms or performance relative to peers.

Stakeholder Impact

• Shareholders: A minor, routine disposition by an executive, unlikely to have a material impact on shareholder sentiment or the company's stock price.
• Employees: Reflects standard equity compensation practices for executives.

Key Dates

Keywords

Lincoln National Corp, LNC, Form 4, Insider Transaction, Stock Sale, Executive Compensation, Craig T. Beazer, Restricted Stock Units, Tax Withholding, Rule 10b5-1