Lincoln National (LNC) CFO Neczypor to depart; Adam Cohen appointed interim finance chief
Rhea-AI Filing Summary
Lincoln National Corporation reported a planned finance leadership change. Executive Vice President and CFO Chris Neczypor informed the company on August 6, 2026, that he will leave to pursue another opportunity outside the industry; the company stated his decision is not related to financial or operating results or to any disagreements over financial or reporting matters. He will remain through the end of August to support the transition.
Adam M. Cohen, currently Senior Vice President, Chief Accounting Officer and Treasurer, has been appointed Interim Chief Financial Officer, effective immediately, while a comprehensive internal and external search is conducted. Cohen will receive an annual base salary of $550,000, a target annual incentive opportunity equal to 300% of base salary (pro-rated for 2026), a $1.6 million target award under the long-term incentive program (pro-rated for 2026), and a $1 million retention grant, all subject to Compensation Committee approval and tied to pre-established performance goals. As of June 30, 2026, Lincoln reported $366 billion in end-of-period account balances and serves about 17 million customers.
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- None.
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- CFO departure during strategic transition: Executive Vice President and Chief Financial Officer Chris Neczypor will leave by the end of August 2026, creating near-term leadership transition risk in the finance organization.
Filing Explained
The interim CFO’s disclosed 2026 annual and long-term incentive awards are not guaranteed payouts: they remain subject to Compensation Committee approval, and any payout requires the Committee to determine that threshold performance was achieved after the applicable performance period.
8-K Event Classification
Key Figures
Key Terms
Interim Chief Financial Officer financial
long-term incentive program financial
retention grant financial
forward-looking statements regulatory
Incentive Compensation Plan financial
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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
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Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On August 6, 2026, Christopher Neczypor, Executive Vice President and Chief Financial Officer (“CFO”), notified Lincoln National Corporation (the “Company”) of his intention to leave the Company to pursue another employment opportunity outside of our industry, and his departure is not related to the Company’s financial or operating results or to any disagreements with the Company, its management or its Board of Directors regarding the Company’s financial, operational, accounting or reporting policies or practices. Mr. Neczypor will remain with the Company through the end of August to help with the transition.
In connection with Mr. Neczypor’s departure, the Company appointed Adam M. Cohen, Senior Vice President, Chief Accounting Officer and Treasurer to serve as the Company’s interim CFO, effective immediately, while the Company conducts a comprehensive search to identify Mr. Neczypor’s successor. Mr. Cohen, age 41, joined the Company in March 2022 and has served as the Company’s Senior Vice President, Chief Accounting Officer, since that time. Mr. Cohen became Treasurer in February 2024. Prior to joining the Company, Mr. Cohen served since 2020 as Chief Financial Officer at Archwell Holdings, LLC, a holding company with a portfolio of corporate services, technology, and consulting companies focused on the mortgage and finance industry.
While serving as interim CFO, Mr. Cohen will receive an annual base salary of $550,000 and a target award of 300% of his base salary under the Corporation’s annual incentive program (“AIP”) to be pro-rated for 2026, in each case subject to approval by the Compensation Committee (the “Committee”) of the LNC Board of Directors. In addition, he will receive a target award of $1,600,000, pro-rated for 2026, under the Corporation’s long-term incentive program (“LTIP”), and a retention grant of $1,000,000 under the LTIP, subject to approval by the Committee. The AIP and LTIP are both established under our shareholder-approved 2020 Lincoln National Corporation Incentive Compensation Plan. The Committee established the performance measures and target performance goals for the 2026 AIP and LTIP at its regular meeting on February 19, 2026. Any awards under the AIP and LTIP will be paid out after the end of the applicable performance period only upon the Committee’s determination that threshold performance has been achieved for the performance measures.
Item 7.01. Regulation FD Disclosure
On August 10, 2026, the Company issued a press release, a copy of which is furnished as exhibit 99.1 hereto, announcing the matters described in Item 5.02 above.
This press release is being furnished under this Item 7.01 and shall not be deemed “filed” for the purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that Section. The information in Exhibit 99.1 shall not be incorporated by reference into any registration statement or other document pursuant to the Securities Act, except as otherwise expressly stated in such filing.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits
| Exhibit Number |
Description | |
| 99.1 | Press release dated August 10, 2026. | |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). | |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| LINCOLN NATIONAL CORPORATION | ||
| By | /s/ Nancy A. Smith | |
| Name: | Nancy A. Smith | |
| Title: | Senior Vice President, Corporate Secretary | |
Date: August 10, 2026
Exhibit 99.1
|
For Immediate Release |
LINCOLN FINANCIAL ANNOUNCES CHIEF FINANCIAL OFFICER TRANSITION
Adam Cohen Appointed Interim Chief Financial Officer
RADNOR, Pa., August 10, 2026 – Lincoln Financial (NYSE: LNC) today announced that Chris Neczypor, Executive Vice President and Chief Financial Officer, has decided to leave the company to pursue another opportunity outside of the industry. Adam Cohen, Senior Vice President, Chief Accounting Officer and Treasurer, has been appointed Interim Chief Financial Officer, effective immediately. Neczypor will remain with Lincoln through the end of August to ensure a smooth transition. Lincoln will conduct a comprehensive search process to identify its permanent Chief Financial Officer that will include consideration of both internal and external candidates.
“Chris has been an excellent leader during a critical period for Lincoln,” said Ellen Cooper, Chairman, President and Chief Executive Officer. “His judgment, strategic perspective and deep financial expertise have been important to Lincoln over the past three years. The progress we have made reflects the collective efforts of an exceptional team, and Chris has played a key role in helping advance our transformation. I am grateful for his many contributions and wish him every success.”
“Lincoln enters this next chapter from a position of strength,” Cooper continued. “This phase of our strategy represents an inflection point, with a clear path forward, strong momentum and meaningful opportunity ahead. We are positioned to continue delivering more durable earnings and free cash flow, strategically investing to drive long-term growth, and allocating capital with discipline to create long-term shareholder value.”
“Adam is a strong, well-respected leader who brings deep command of our businesses and products,” Cooper added. “As Chief Accounting Officer, he has excelled at strengthening our financial controls and driving expense discipline across the enterprise. As Treasurer, he developed and oversees our funding agreement program and brings deep experience in capital markets. That skill set makes him exceptionally well prepared to head our finance organization while we complete our search.”
Cohen has served as the company’s Chief Accounting Officer since 2022, assuming responsibility for Treasury in 2024. Additionally, he oversees enterprise expense management and fixed income investor relations. Previously, he also led the company’s Investor Relations. Before joining Lincoln, Cohen served as Chief Financial Officer of Archwell and spent 13 years with EY in insurance audit and advisory roles. He holds an MBA from the Wharton School of the University of Pennsylvania, a Master of Science in Accounting from the University of Virginia and a Bachelor of Science in Business Administration from Bucknell University.
About Lincoln Financial
Lincoln Financial helps people confidently plan for their vision of a successful financial future. As of December 31, 2025, approximately 17 million customers trust our guidance and solutions across four core businesses – annuities, life insurance, group protection, and retirement plan services. As of June 30, 2026, the company had $366 billion in end-of-period account balances, net of reinsurance. Headquartered in Radnor, PA., Lincoln Financial is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. Learn more at LincolnFinancial.com.
Forward-Looking Statements – Cautionary Language
Certain statements made in this press release are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). A forward-looking statement is a statement that is not a historical fact and, without limitation, includes any statement that may predict, forecast, indicate or imply future results, performance or achievements. Forward-looking statements may contain words like: “anticipate,” “believe,” “estimate,” “expect,” “project,” “shall,” “will” and other words or phrases with similar meaning in connection with a discussion of future operating or
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financial performance. In particular, these include statements relating to future actions, performance or financial results, including our belief that the company is positioned to continue delivering more durable earnings and free cash flow, strategically investing to drive long-term growth, and allocating capital with discipline to create long-term shareholder value. Our most recent Annual Report on Form 10-K, as well as other reports that we file with the SEC, include risk factors that could affect our future actions, businesses and financial performance and results. Moreover, we operate in a rapidly changing and competitive environment. New risk factors emerge from time to time, and it is not possible for management to predict all such risk factors or to assess the effect of all risk factors on our businesses or the extent to which any factor, or combination of factors, may cause actual results to differ materially from those contained in any forward-looking statements. Given these risks and uncertainties, investors should not place undue reliance on forward-looking statements as a prediction of actual results. In addition, we disclaim any obligation to correct or update any forward-looking statements to reflect events or circumstances that occur after the date of this press release.
| Contacts: | ||||
| John Muething | Amy Ponticello | |||
| Investor Relations | Media Relations | |||
| Investorrelations@LFG.com | Media@LFG.com |
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