LNC director granted 1,267 Phantom Stock Units

LINCOLN NATIONAL CORP director Eric G. Johnson received a grant of 1,267.6100 Phantom Stock Units equivalent to LNC common shares at a reference price of $35.50 per unit.

Rhea-AI Filing Summary

LINCOLN NATIONAL CORP director Eric G. Johnson received a grant of 1,267.6100 Phantom Stock Units equivalent to LNC common shares at a reference price of $35.50 per unit. The award represents quarterly board retainer and fees credited under the Deferred Compensation Plan for Non-employee Directors.

These phantom stock units are credited to the LNC Stock Fund account and are payable solely in shares of LNC common stock upon Johnson’s resignation or retirement, although he may transfer the units into an alternative investment account at any time. Following this grant and dividend reinvestment activity, Johnson holds 96,403.2700 phantom stock units, including 999.08 units acquired through dividend reinvestment since his last report.

Insider Trade Summary

Grant/Award: 1,267.61 shares

Grant/Award 1 txn

Insider JOHNSON ERIC G

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Unit	1,267.61	$35.50	$45K

Holdings After Transaction: Phantom Stock Unit — 96,403.27 contracts (Direct)

Footnotes (3)

1. F1. Each Phantom Stock Unit is the equivalent of one share of LNC Common Stock.
2. F2. Quarterly payment of board retainer and fees in shares of phantom stock accrued under the LNC Deferred Compensation Plan for Non-employee Directors (the "Directors' DCP") in the LNC Stock Fund investment account, which are payable solely in shares of LNC Common Stock at resignation or retirement. The reporting person may transfer his/her phantom stock unit holdings into an alternative investment account in the Directors' DCP at any time.
3. F3. Includes 999.08 shares acquired through dividend reinvestment since the reporting person's last report.

Key Figures

Phantom units granted: 1,267.6100 units Reference price per unit: $35.50 per unit Total phantom units after grant: 96,403.2700 units +2 more

5 metrics

Phantom units granted 1,267.6100 units Quarterly board retainer and fees grant

Reference price per unit $35.50 per unit Phantom Stock Unit grant valuation

Total phantom units after grant 96,403.2700 units Holdings following this Form 4 transaction

Dividend reinvestment units 999.08 units Units added via dividend reinvestment since last report

Underlying common shares 1,267.6100 shares Each Phantom Stock Unit equals one LNC common share

Key Terms

Phantom Stock Unit, Deferred Compensation Plan for Non-employee Directors, dividend reinvestment, LNC Stock Fund investment account

4 terms

Phantom Stock Unit financial

"Each Phantom Stock Unit is the equivalent of one share of LNC Common Stock."

Deferred Compensation Plan for Non-employee Directors financial

"accrued under the LNC Deferred Compensation Plan for Non-employee Directors (the "Directors' DCP")"

dividend reinvestment financial

"Includes 999.08 shares acquired through dividend reinvestment since the reporting person's last report."

Dividend reinvestment is when the money earned from a company's profit sharing, called dividends, is automatically used to buy more shares of that company instead of being received as cash. This process helps investors grow their holdings over time without extra effort, much like using earned interest to buy more of a savings account. It encourages long-term investment growth by continuously increasing the amount of shares owned.

LNC Stock Fund investment account financial

"in the LNC Stock Fund investment account, which are payable solely in shares of LNC Common Stock"

FAQ

What insider transaction did LNC director Eric G. Johnson report on this Form 4 for LNC?

Eric G. Johnson reported receiving 1,267.6100 Phantom Stock Units tied to Lincoln National common stock. The grant reflects quarterly board retainer and fees credited under the Deferred Compensation Plan for Non-employee Directors in the LNC Stock Fund investment account.

How are Eric G. Johnson’s Phantom Stock Units at LNC valued and structured?

Each Phantom Stock Unit is the equivalent of one share of Lincoln National common stock, with this grant referenced at $35.50 per unit. The units track the stock’s value and are ultimately settled in shares upon resignation or retirement, not in immediate cash.

When will Eric G. Johnson receive actual LNC shares for his Phantom Stock Units?

The Phantom Stock Units are payable solely in shares of Lincoln National common stock at Johnson’s resignation or retirement. Until then, they remain as deferred compensation units within the LNC Deferred Compensation Plan for Non-employee Directors’ LNC Stock Fund account.

Can Eric G. Johnson change how his LNC Phantom Stock Units are invested?

Yes. Johnson may transfer his Phantom Stock Unit holdings from the LNC Stock Fund investment account into an alternative investment account within the Deferred Compensation Plan at any time. This flexibility applies to units accrued as part of his non-employee director compensation.

How many Lincoln National Phantom Stock Units does Eric G. Johnson hold after this transaction?

After this grant, Johnson holds 96,403.2700 Phantom Stock Units linked to Lincoln National common stock. This total includes 999.08 units acquired through dividend reinvestment since his last report, reflecting accumulated deferred compensation and reinvested distributions.

What is the role of dividend reinvestment in Eric G. Johnson’s LNC Phantom Stock Units?

Dividend reinvestment has increased Johnson’s Phantom Stock Unit balance by 999.08 units since his last report. Instead of receiving cash dividends, the value is credited as additional phantom units, compounding his deferred equity-based compensation over time within the plan.

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

Form 4 Insider Transactions: What Each Field Means →

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Accepted by SEC EDGAR 04/02/2026 - 04:20 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

JOHNSON ERIC G

(Last) (First) (Middle)

150 N. RADNOR-CHESTER ROAD

(Street)

RADNOR PENNSYLVANIA 19087

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
LINCOLN NATIONAL CORP [ LNC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Phantom Stock Unit	(1)	03/31/2026		A		1,267.61		(2)	(2)	Common Stock	1,267.61	$35.5	96,403.27(3)	D

Explanation of Responses:

1. Each Phantom Stock Unit is the equivalent of one share of LNC Common Stock.

2. Quarterly payment of board retainer and fees in shares of phantom stock accrued under the LNC Deferred Compensation Plan for Non-employee Directors (the "Directors' DCP") in the LNC Stock Fund investment account, which are payable solely in shares of LNC Common Stock at resignation or retirement. The reporting person may transfer his/her phantom stock unit holdings into an alternative investment account in the Directors' DCP at any time.

3. Includes 999.08 shares acquired through dividend reinvestment since the reporting person's last report.

Remarks:

	/s/ Claire H. Hanna, Attorney-in-Fact	04/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)