Lincoln National (LNC) risk chief granted 30,549 restricted stock units

Rhea-AI Filing Summary

Lincoln National Corp executive Andrew Rallis received an equity award that increases his direct stake in the company. On February 19, 2026, he was granted 30,549 restricted stock units, each representing a contingent right to receive one share of Lincoln National common stock. These restricted stock units vest on February 19, 2029, tying part of his compensation to the company’s long-term performance. After this award, Rallis directly owns 212,525 shares of common stock, which includes 5,451.66 shares acquired through dividend reinvestment since his previous report.

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

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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^*

Rallis Andrew

(Last) (First) (Middle)

150 N. RADNOR CHESTER ROAD

(Street)

RADNOR PA 19087

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chief Risk Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/19/2026

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

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

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

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
Common Stock	02/19/2026		A		30,549(1)	A	$0	212,525(2)	D

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

Explanation of Responses:

1. Grant of restricted stock units representing a contingent right to receive shares of LNC common stock. The restricted stock units vest on February 19, 2029.

2. Includes 5,451.66 shares acquired through dividend reinvestment since the reporting person's last report.

Remarks:

	/s/ Claire H. Hanna, Attorney-in-Fact	02/23/2026
	** 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.

FAQ

What insider transaction did LNC executive Andrew Rallis report on this Form 4?

Andrew Rallis reported receiving a grant of 30,549 restricted stock units in Lincoln National common stock. The award represents a contingent right to receive shares and forms part of his equity-based compensation, aligning his interests with the company’s long-term stock performance.

When do Andrew Rallis’s new Lincoln National (LNC) restricted stock units vest?

The restricted stock units granted to Andrew Rallis vest on February 19, 2029. Vesting means he must remain eligible until that date to receive the underlying Lincoln National common shares, making this award a long-term incentive tied to future service and performance.

How many Lincoln National (LNC) shares does Andrew Rallis own after this Form 4 transaction?

After the reported grant, Andrew Rallis directly owns 212,525 shares of Lincoln National common stock. This total includes shares previously held as well as 5,451.66 shares accumulated through dividend reinvestment since his last ownership report was filed.

What is the nature of the equity award reported by LNC’s EVP, Chief Risk Officer?

The award is a grant of restricted stock units, providing a contingent right to receive Lincoln National common shares. The units have no cash exercise price and vest on February 19, 2029, serving as a long-term compensation component for the EVP, Chief Risk Officer.

Did Andrew Rallis buy or sell Lincoln National (LNC) shares on the market in this filing?

No open-market buy or sell is reported; the Form 4 shows a grant, coded as an acquisition under transaction code “A.” The transaction reflects equity compensation rather than a discretionary market trade initiated by Andrew Rallis.