[Form 4] LINCOLN NATIONAL CORP Insider Trading Activity

Rhea-AI Filing Summary

Lincoln National Corp executive reports stock sale. An executive officer of Lincoln National Corp, serving as EVP, Chief Distribution & Brand Officer, reported selling 3,519 shares of common stock on 12/10/2025 at a price of $44.15 per share. After this transaction, the reporting person beneficially owned 118,984.52 shares of Lincoln National common stock directly. In addition, 12,267.52 shares were beneficially owned through the company’s 401(k) plan as of 12/2/2025. This filing is a routine insider ownership update under Section 16 rules.

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)
12/10/2025

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	12/10/2025		S		3,519	D	$44.15	118,984.52	D
Common Stock								12,267.52(1)	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. 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	12/11/2025
	** 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?

The filing reports that an executive officer of Lincoln National Corp sold 3,519 shares of common stock on 12/10/2025 at a price of $44.15 per share.

Who is the reporting person in this Lincoln National Corp (LNC) Form 4?

The reporting person is an officer of Lincoln National Corp serving as EVP, Chief Distribution & Brand Officer, as indicated in the filing’s relationship section.

How many Lincoln National Corp (LNC) shares does the insider own after the sale?

Following the reported transaction, the insider beneficially owned 118,984.52 shares of Lincoln National common stock directly.

How many Lincoln National Corp (LNC) shares are held through the 401(k) plan?

The filing states that 12,267.52 shares of Lincoln National common stock were beneficially owned through the company’s 401(k) Plan as of 12/2/2025.

What type of SEC form did Lincoln National Corp (LNC) file for this insider trade?

This transaction was reported on a Form 4, which discloses changes in beneficial ownership of the company’s equity securities by officers, directors, and certain shareholders.

Is the Lincoln National Corp (LNC) Form 4 filed by one or multiple reporting persons?

The form indicates that it is filed by one reporting person, as shown by the checked line in the individual or joint/group filing section.