[144] Lincoln National Corp. SEC Filing

Rhea-AI Filing Summary

Lincoln National Corp. (LNC) Form 144 notice reports a proposed sale of 16,164 common shares through UBS Financial Services on the NYSE with an aggregate market value of $661,044.56. The filer indicates these shares were acquired the same day, 08/15/2025, by option exercise from Lincoln National Corp and paid for by wire. The filing also discloses a prior sale by Sean Nigel Woodroffe of 43,622 shares on 05/24/2025 that generated $1,429,991 in gross proceeds. The notice includes the seller's representation that they are unaware of any undisclosed material adverse information about the issuer.

Positive

• Disclosure compliance: Filing clearly reports the proposed sale and acquisition method (option exercise) as required under Rule 144.

Negative

• Insider selling: The filing discloses recent insider sales (16,164 shares proposed; 43,622 shares sold earlier), which could be viewed negatively by some investors

Insights

Securities Analyst

TL;DR: Routine insider sale notification, modest size relative to large-cap peers, appears procedural rather than strategic.

The Form 144 documents a proposed off-market sale of 16,164 Lincoln National common shares valued at $661,044.56 via UBS on the NYSE, acquired by option exercise on the same date and paid by wire. The filing also records a prior sale of 43,622 shares yielding $1,429,991. These disclosures are standard for reporting covered sales under Rule 144 and do not, on their face, convey new operational or financial information about the issuer. Impact to public float and near-term liquidity is immaterial absent larger aggregated insider dispositions.

Corporate Governance Expert

TL;DR: Compliance-focused disclosure showing adherence to Rule 144 procedures, with seller attesting no undisclosed material information.

The notice specifies the relationship of the transaction to Rule 144 requirements: acquisition via option exercise and subsequent proposed sale through a broker. The filer’s signed representation that no material nonpublic information is known is a standard attestation to limit insider-trading concerns. From a governance perspective, the filing documents transparent compliance steps but does not indicate changes in management, control, or corporate policy.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	UBS Financial Services Inc 1000 Harbor Blvd 3rd Floor Weehawken NJ 07086	16164	661044.56	189580412	08/15/2025	NYSE

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/15/2025	Option Exercise	Lincoln National Corp			16164	08/15/2025	wire

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Sean Nigel Woodroffe 150 N Radnor Chester Rd Radnor PA 19087	Common	05/24/2025	43622	1429991

144: Remarks and Signature

Remarks

Date of Notice

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Lincoln National Corp (LNC) Form 144 report?

The form reports a proposed sale of 16,164 common shares via UBS on the NYSE with an aggregate market value of $661,044.56.

How were the 16,164 shares acquired according to the filing?

The shares were acquired by option exercise from Lincoln National Corp on 08/15/2025 and payment was made by wire.

Did the filer sell any LNC shares recently?

Yes. The filing discloses a prior sale by Sean Nigel Woodroffe of 43,622 shares on 05/24/2025 for gross proceeds of $1,429,991.

Through which broker will the proposed sale be executed?

The proposed sale is to be executed through UBS Financial Services Inc, with the trade to occur on the NYSE.

Does the filer claim to possess undisclosed material information?

No. By signing the notice, the person represents they do not know any material adverse information about the issuer that has not been publicly disclosed.