Lincoln National Corp (LNC) officer reports 1,555-share tax withholding and updates holdings

Rhea-AI Filing Summary

Lincoln National Corp executive reports tax share withholding on vested stock units. A company officer, listed as EVP, Chief Distribution & Brand Officer, reported a Form 4 transaction dated 12/05/2025 involving common stock of Lincoln National Corp (LNC). The filing shows 1,555 shares of common stock were disposed of at a price of $42.74 per share, described as tax withholding upon the vesting of restricted stock units.

After this transaction, the executive beneficially owns 122,503.52 shares of Lincoln National common stock directly and 12,267.52 shares indirectly through the company’s 401(k) plan as of 12/2/2025. The form is filed by one reporting person and reflects routine equity compensation and related tax withholding rather than an open-market sale.

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^*

Kennedy John Christopher

(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 Dist. & Brand Off

3. Date of Earliest Transaction (Month/Day/Year)
12/05/2025

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	12/05/2025		F		1,555(1)	D	$42.74	122,503.52	D
Common Stock								12,267.52(2)	I	In 401(K)

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. Tax withholding upon vesting of restricted stock units.

2. Represents the number of shares of common stock beneficially owned through the Company's 401(k) Plan as of 12/2/2025.

Remarks:

	/s/ Claire H. Hanna, Attorney-in-Fact	12/09/2025
	** 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 Lincoln National Corp (LNC) report on this Form 4?

The Form 4 shows that an executive of Lincoln National Corp (LNC) disposed of 1,555 shares of common stock on 12/05/2025. The transaction is coded as "F," which the explanation identifies as tax withholding upon vesting of restricted stock units, not a discretionary market sale.

Who is the reporting person and what is their role at Lincoln National Corp (LNC)?

The reporting person is identified as an officer of Lincoln National Corp with the title EVP, Chief Distribution & Brand Officer. The form is marked as filed by one reporting person, indicating an individual insider transaction rather than a group filing.

At what price were the Lincoln National Corp (LNC) shares withheld for taxes?

The Form 4 reports that the 1,555 LNC common shares related to tax withholding were valued at a price of $42.74 per share in the transaction dated 12/05/2025. This reflects the price used for the tax withholding on the vested restricted stock units.

How many Lincoln National Corp (LNC) shares does the executive own after the reported transaction?

Following the tax withholding transaction, the executive beneficially owns 122,503.52 shares of LNC common stock directly. In addition, they beneficially own 12,267.52 shares indirectly through the company’s 401(k) Plan as of 12/2/2025.

What does the indirect ownership in the Lincoln National Corp (LNC) 401(k) plan represent?

The Form 4 notes that the 12,267.52 indirectly owned shares represent the number of Lincoln National Corp common shares credited to the executive’s company 401(k) Plan account as of 12/2/2025, reflecting retirement-plan holdings rather than directly held stock.

Is this Lincoln National Corp (LNC) Form 4 related to a 10b5-1 trading plan?

The form includes a checkbox to indicate if a transaction was made under a Rule 10b5-1(c) trading plan, but the provided content does not show that box as checked. The key transaction is described as tax withholding upon vesting of restricted stock units.