Lincoln National director granted phantom stock

Lincoln National Corp director Ryan Owen received a grant of 1,272.98 Phantom Stock Units, each equivalent to one share of LNC common stock, based on a reference price of $35.35 per unit.

Rhea-AI Filing Summary

Lincoln National Corp director Ryan Owen received a grant of 1,272.98 Phantom Stock Units, each equivalent to one share of LNC common stock, based on a reference price of $35.35 per unit. This represents his quarterly board retainer and fees credited under the company’s Deferred Compensation Plan for non-employee directors.

These phantom units are payable solely in shares of LNC common stock upon resignation or retirement, though he may transfer them into an alternative investment option within the plan at any time. Following this award and dividend reinvestment activity, Owen now holds a total of 24,673.17 phantom stock units, including 277.26 units acquired through dividend reinvestment since his last report. This is a routine compensation-related acquisition, not an open-market stock purchase or sale.

Insider Trade Summary

Grant/Award: 1,272.98 shares

Grant/Award 1 txn

Insider Ryan Owen

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Phantom Stock Unit	1,272.98	$35.35	$45K

Holdings After Transaction: Phantom Stock Unit — 24,673.17 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 Director's DCP at any time.
3. F3. Includes 277.26 shares acquired through dividend reinvestment since the reporting person's last report.

Key Figures

Phantom Stock Units granted: 1,272.98 units Reference price per unit: $35.35 per unit Total Phantom Stock Units after grant: 24,673.17 units +2 more

5 metrics

Phantom Stock Units granted 1,272.98 units Quarterly board retainer and fees on 2026-06-30

Reference price per unit $35.35 per unit Phantom Stock Unit grant valuation

Total Phantom Stock Units after grant 24,673.17 units Holdings following the 2026-06-30 award

Dividend reinvestment units 277.26 units Units acquired via dividend reinvestment since last report

Share equivalence 1 phantom unit = 1 LNC share Economic equivalence disclosed in footnote

Key Terms

Phantom Stock Unit, Deferred Compensation Plan, dividend reinvestment

3 terms

Phantom Stock Unit financial

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

Deferred Compensation Plan financial

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

A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.

dividend reinvestment financial

"Includes 277.26 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.

FAQ

What insider transaction did Lincoln National (LNC) director Ryan Owen report?

Ryan Owen reported receiving 1,272.98 Phantom Stock Units as director compensation. The grant reflects his quarterly board retainer and fees credited in stock-equivalent units under Lincoln National’s Deferred Compensation Plan for non-employee directors, rather than a cash payment or open-market stock purchase.

Are Ryan Owen’s Lincoln National (LNC) Phantom Stock Units the same as common shares?

Each Phantom Stock Unit is economically equivalent to one share of Lincoln National common stock. However, the units are bookkeeping entries under a deferred compensation plan and are payable only in actual LNC shares at resignation or retirement, not immediately tradable stock holdings.

How many Phantom Stock Units does Ryan Owen now hold in Lincoln National (LNC)?

After the latest award, Ryan Owen holds 24,673.17 Phantom Stock Units. This total includes the new 1,272.98-unit grant and 277.26 units accumulated through dividend reinvestment since his prior report, all representing stock-linked deferred director compensation.

Is Ryan Owen’s Lincoln National (LNC) Phantom Stock transaction an open-market buy or sell?

The transaction is not an open-market buy or sell. It is classified as a grant or award acquisition of 1,272.98 Phantom Stock Units as part of routine director compensation, credited within Lincoln National’s Deferred Compensation Plan instead of being purchased on the stock market.

When will Ryan Owen receive actual Lincoln National (LNC) shares for his Phantom Stock Units?

The Phantom Stock Units are payable solely in Lincoln National common shares at Owen’s resignation or retirement. Until then, the units remain deferred compensation entries that track the value of LNC stock, with flexibility to move into other investment options 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 07/02/2026 - 07:36 AM 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^*

Ryan Owen

(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)
06/30/2026

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)	06/30/2026		A		1,272.98		(2)	(2)	Common Stock	1,272.98	$35.35	24,673.17(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 Director's DCP at any time.

3. Includes 277.26 shares acquired through dividend reinvestment since the reporting person's last report.

Remarks:

	/s/ Claire H. Hanna, Attorney-in-Fact	07/02/2026
	** 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)