Lincoln National (NYSE: LNC) now has BlackRock over-5% preferred holder

Rhea-AI Filing Summary

LINCOLN NATIONAL CORP (LNC) reports that BlackRock, Inc. has filed as a passive institutional holder of its Series D Preferred Stock. BlackRock and its reporting business units beneficially own 1,236 shares of this class, representing 6.2% of the outstanding Series D Preferred Stock.

BlackRock reports sole voting power and sole dispositive power over all 1,236 shares, with no shared voting or dispositive power. The disclosure notes that iShares Preferred and Income Securities ETF has an interest in the Series D Preferred Stock of Lincoln National Corp that is more than five percent of the total outstanding Series D Preferred Stock.

Key Figures

Beneficial ownership – Series D Preferred: 1,236 shares Percent of class – Series D Preferred: 6.2% Sole voting power: 1,236 shares +2 more

5 metrics

Beneficial ownership – Series D Preferred 1,236 shares Amount of LINCOLN NATIONAL CORP Series D Preferred Stock beneficially owned by BlackRock, Inc.

Percent of class – Series D Preferred 6.2% Percentage of total outstanding Series D Preferred Stock of LINCOLN NATIONAL CORP held by BlackRock, Inc.

Sole voting power 1,236 shares Shares of LINCOLN NATIONAL CORP Series D Preferred over which BlackRock, Inc. has sole power to vote or direct the vote

Sole dispositive power 1,236 shares Shares of LINCOLN NATIONAL CORP Series D Preferred over which BlackRock, Inc. has sole power to dispose or direct disposition

Ownership threshold mentioned for ETF more than five percent Interest of iShares Preferred and Income Securities ETF in LNC Series D Preferred Stock exceeds five percent of that class

Key Terms

beneficially owned, Sole Dispositive Power, Sole Voting Power, Schedule 13G, +1 more

5 terms

beneficially owned financial

"reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole Dispositive Power financial

"Sole Dispositive Power 1,236.00 8 | Shared Dispositive Power 0.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Sole Voting Power financial

"5 | Sole Voting Power 1,236.00 6 | Shared Voting Power 0.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

Schedule 13G regulatory

"form_type: "SCHEDULE 13G""

A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.

percent of class financial

"Percent of class: 6.2%"

Percent of class is the portion of a specific category of securities—such as a company’s common shares, preferred shares, or a bond series—that takes part in or approves a corporate action (vote, consent, tender, etc.). Investors watch this number because it reveals how much support or opposition exists within that particular shareholder group; like counting how many members of a club back a proposal, it can determine whether a plan passes or how influence is distributed.

FAQ

What percentage of LINCOLN NATIONAL CORP (LNC) Series D Preferred Stock does BlackRock own?

BlackRock, Inc. reports beneficial ownership of 6.2% of LINCOLN NATIONAL CORP’s Series D Preferred Stock, corresponding to 1,236 shares over which it has sole voting and sole dispositive power.

How many LINCOLN NATIONAL CORP (LNC) Series D Preferred shares does BlackRock control?

BlackRock, Inc. reports beneficial ownership of 1,236 Series D Preferred shares of LINCOLN NATIONAL CORP, with sole voting power over 1,236 shares and sole dispositive power over 1,236 shares, and no shared voting or dispositive power.

Which ETF related to BlackRock holds over 5% of LNC’s Series D Preferred Stock?

The disclosure states that iShares Preferred and Income Securities ETF has an interest in LINCOLN NATIONAL CORP’s Series D Preferred Stock that is more than five percent of the total outstanding Series D Preferred Stock.

What class of LINCOLN NATIONAL CORP (LNC) securities is reported in this Schedule 13G?

The ownership relates to Series D Preferred Stock of LINCOLN NATIONAL CORP. BlackRock, Inc. reports beneficial ownership and related voting and dispositive powers in this specific preferred stock class.

Does BlackRock share voting or dispositive power over LNC’s Series D Preferred Stock?

No. BlackRock, Inc. reports shared voting power: 0 shares and shared dispositive power: 0 shares. All 1,236 shares of LINCOLN NATIONAL CORP Series D Preferred Stock are reported with sole voting and sole dispositive power.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/21/2026 - 01:25 PM Accepted by SEC EDGAR 08/21/2026 - 01:24 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

LINCOLN NATIONAL CORP

(Name of Issuer)

Series D Preferred Stock

(Title of Class of Securities)

534187885

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 534187885

1

Names of Reporting Persons

BlackRock, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 1,236.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 1,236.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

1,236.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.2 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: LINCOLN NATIONAL CORP
(b)	Address of issuer's principal executive offices: 150 N RADNOR CHESTER RD, RADNOR, PENNSYLVANIA, 19087
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Series D Preferred Stock
(e)	CUSIP Number(s): 534187885
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 1,236
(b)	Percent of class: 6.2%
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 1,236
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 1,236
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. The interest of 1 such person, iShares Preferred and Income Securities ETF, in the Series D Preferred Stock of LINCOLN NATIONAL CORP is more than five percent of the total outstanding Series D Preferred Stock.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	08/21/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7