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Board fees give Lincoln National (NYSE: LNC) director phantom stock

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

JOHNSON ERIC G reported acquisition or exercise transactions in this Form 4 filing.

LINCOLN NATIONAL CORP director Eric G. Johnson received a grant of 1,272.98 Phantom Stock Units on a deferred basis. Each unit equals one share of LNC common stock and was valued at $35.35 per unit. The award represents quarterly payment of board retainer and fees under the company’s Deferred Compensation Plan for Non-employee Directors.

These phantom units are credited to the LNC Stock Fund investment account and are payable solely in shares of LNC common stock upon Johnson’s resignation or retirement. He may shift these holdings into an alternative investment option under the plan. After this grant and dividend reinvestment activity, his deferred phantom stock balance stands at 98,832.17 units.

Positive

  • None.

Negative

  • None.
Insider JOHNSON ERIC G
Role null
Type Security Shares Price Value
Grant/Award Phantom Stock Unit 1,272.98 $35.35 $45K
Holdings After Transaction: Phantom Stock Unit — 98,832.17 shares (Direct, null)
Footnotes (1)
  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 1,155.92 shares acquired through dividend reinvestment since the reporting person's last report.
Phantom Stock Units granted 1,272.98 units Quarterly board retainer grant on June 30, 2026
Grant valuation price $35.35 per unit Value assigned to each Phantom Stock Unit
Total phantom units after transaction 98,832.17 units Director’s deferred phantom stock balance following grant
Dividend reinvestment units 1,155.92 units Units accumulated via dividend reinvestment since last report
Underlying common stock equivalence 1 unit = 1 share Each Phantom Stock Unit equals one LNC common share
Phantom Stock Unit financial
"Each Phantom Stock Unit is the equivalent of one share of LNC Common Stock."
Deferred Compensation Plan for Non-employee Directors financial
"accrued under the LNC Deferred Compensation Plan for Non-employee Directors (the "Directors' DCP")"
LNC Stock Fund investment account financial
"in the LNC Stock Fund investment account, which are payable solely in shares"
dividend reinvestment financial
"Includes 1,155.92 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.
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Form 4 Insider Transactions: What Each Field Means →
SEC Form 4
FORM 4UNITED 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*
JOHNSON ERIC G
(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)
XDirector10% 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)
XForm 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)
CodeVAmount(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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Phantom Stock Unit(1)06/30/2026A1,272.98 (2) (2)Common Stock1,272.98$35.3598,832.17(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 1,155.92 shares acquired through dividend reinvestment since the reporting person's last report.
Remarks:
/s/ Claire H. Hanna, Attorney-in-Fact07/02/2026
** Signature of Reporting PersonDate
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)

Source: View Original Filing on SEC EDGAR

FAQ

What did Lincoln National (LNC) director Eric G. Johnson report in this Form 4?

Director Eric G. Johnson reported receiving 1,272.98 Phantom Stock Units as a quarterly board retainer, valued at $35.35 per unit. These units track Lincoln National common stock and are paid out in shares when he resigns or retires from the board.

How many Phantom Stock Units does the LNC director hold after this transaction?

After this grant, Eric G. Johnson holds 98,832.17 Phantom Stock Units tied to Lincoln National common stock. This total includes the newly awarded 1,272.98 units and 1,155.92 additional units accumulated through dividend reinvestment since his prior ownership report.

How are the Phantom Stock Units for Lincoln National (LNC) director paid out?

The Phantom Stock Units are payable solely in shares of Lincoln National common stock at the director’s resignation or retirement. They accrue under the Deferred Compensation Plan for Non-employee Directors and mirror the value of LNC stock until converted into actual shares later.

What is the value per Phantom Stock Unit granted to the LNC director?

Each Phantom Stock Unit granted to the Lincoln National director was valued at $35.35. Since 1,272.98 units were awarded as part of his quarterly board retainer, the grant reflects compensation based on the market-equivalent value of the company’s common stock.

Can the LNC director move his Phantom Stock Units into other investments?

Yes. Under Lincoln National’s Deferred Compensation Plan for Non-employee Directors, Eric G. Johnson may transfer his Phantom Stock Unit holdings out of the LNC Stock Fund account into an alternative investment account at any time, while remaining subject to the plan’s deferred payout rules.

How were additional Phantom Stock Units accumulated for the LNC director?

The filing notes that 1,155.92 Phantom Stock Units were acquired through dividend reinvestment since Eric G. Johnson’s last report. Dividends that would have been paid on LNC common shares are instead reinvested into additional phantom units within the deferred compensation plan.