Director at Lincoln National (NYSE: LNC) receives new phantom stock grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
Morris James T reported acquisition or exercise transactions in this Form 4 filing.
Lincoln National Corp director James T. Morris received a grant of phantom stock units as part of his quarterly board compensation. He was awarded 1,272.98 phantom stock units at a reference price of $35.35 per unit, bringing his holdings to 6,533.01 phantom stock units.
Each phantom stock unit is economically equivalent to one share of Lincoln National common stock and is credited under the company’s Deferred Compensation Plan for non-employee directors. These units are payable solely in Lincoln National common shares upon resignation or retirement and can be reallocated by the director into an alternative investment account. The total also reflects 62.33 units accumulated through dividend reinvestment since his prior report.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Morris James T
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Unit | 1,272.98 | $35.35 | $45K |
Holdings After Transaction:
Phantom Stock Unit — 6,533.01 shares (Direct, null)
Footnotes (1)
- Each Phantom Stock Unit is the equivalent of one share of LNC Common Stock. 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. Includes 62.33 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 units after grant: 6,533.01 units
+2 more
5 metrics
Phantom stock units granted
1,272.98 units
Quarterly board retainer and fees grant on June 30, 2026
Reference price per unit
$35.35 per unit
Valuation used for the phantom stock unit grant
Total phantom units after grant
6,533.01 units
Director’s phantom stock holdings following the transaction
Dividend reinvestment units
62.33 units
Acquired through dividend reinvestment since last report
Underlying security
1,272.98 common shares equivalent
Each phantom stock unit equals one common share
Key Terms
Phantom Stock Unit, Deferred Compensation Plan, 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 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 62.33 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"
FAQ
What did Lincoln National (LNC) director James T. Morris report on this Form 4?
Director James T. Morris reported receiving a grant of 1,272.98 phantom stock units as part of his quarterly board retainer and fees, raising his total phantom stock holdings to 6,533.01 units under Lincoln National’s non-employee director deferred compensation plan.
How many phantom stock units does James T. Morris now hold at Lincoln National (LNC)?
After the latest grant, James T. Morris holds 6,533.01 phantom stock units. This total includes the new 1,272.98-unit award plus 62.33 units that accumulated through dividend reinvestment since his previous ownership report.
What is a phantom stock unit in the context of Lincoln National (LNC)?
Each phantom stock unit is the economic equivalent of one share of Lincoln National common stock. Units are bookkeeping entries under the director deferred compensation plan and are ultimately settled in actual Lincoln National common shares at resignation or retirement.
How were the new phantom stock units for the Lincoln National (LNC) director valued?
The 1,272.98 phantom stock units were credited using a reference price of $35.35 per unit. This reference value reflects the share price applied within the deferred compensation plan for calculating the director’s quarterly retainer and fee-based stock award.
When will the Lincoln National (LNC) phantom stock units be paid to the director?
The phantom stock units are payable solely in shares of Lincoln National common stock at the director’s resignation or retirement. Until then, they remain as deferred compensation credits within the company’s non-employee director deferred compensation plan.
Can the Lincoln National (LNC) director change how phantom stock units are invested?
Yes. The director may transfer phantom stock unit holdings out of the Lincoln National Stock Fund investment account into an alternative investment account within the directors’ deferred compensation plan, while the obligation to pay benefits in common shares remains.