[Form 4] Lincoln National Corp. Insider Trading Activity

Rhea-AI Filing Summary

Lincoln National Corp. (LNC) Form 4 was filed for reporting person Reid James Waltman, EVP Workplace Solutions, and records insider activity dated 08/10/2025 affecting common stock holdings. The filing states the reported movement was due to tax withholding upon vesting of restricted stock units and documents a correction tied to dividend reinvestment reporting: prior periods had been overstated by 2,379.91 shares and the filing includes 3,462.22 shares acquired through dividend reinvestment since the last report. The form lists figures of 13,476 and 126,617.44 shares in the reported entries and indicates direct ownership. The disclosure was submitted by one reporting person.

Insights

Securities Analyst

Routine officer RSU vesting and a dividend reinvestment correction; procedural disclosure with limited immediate market impact.

The Form 4 attributes the transaction to tax withholding upon vesting of restricted stock units and records a correction to previously reported dividend reinvestment figures. The filing explicitly notes an overstatement of 2,379.91 shares in prior periods and adds 3,462.22 shares acquired through dividend reinvestment since the last report. Reported share figures include 13,476 and 126,617.44 shares and are shown as direct ownership. From a securities perspective, this is a disclosure and bookkeeping update rather than an operational change.

Corporate Governance Expert

Disclosure reflects standard insider compensation mechanics and a corrective reporting adjustment; underscores the importance of accurate share recordkeeping.

The reporting person is identified as Reid James Waltman, EVP Workplace Solutions, filing as an officer and the form was submitted by one reporting person. The explanatory notes clearly state tax withholding upon RSU vesting as the reason for the share movement and provide a precise correction of 2,379.91 overstated shares, while documenting 3,462.22 shares obtained via dividend reinvestment since the last filing. The form lists reported holdings as 13,476 and 126,617.44 shares with direct ownership. This disclosure improves transparency around prior reporting errors.

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^*

Reid James Waltman

(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 Workplace Solutions

3. Date of Earliest Transaction (Month/Day/Year)
08/10/2025

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	08/10/2025		F		13,476(1)	D	$38.16	126,617.44(2)	D

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. Reflects a correction to the number of shares reported as acquired through dividend reinvestment in certain prior periods, which due to an administrative error had been overstated by 2,379.91 shares in the aggregate, and includes 3,462.22 shares acquired through dividend reinvestment since the reporting person's last report.

Remarks:

	/s/ Claire H. Hanna, Attorney-in-Fact	08/11/2025
	** 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

Who filed the Form 4 for Lincoln National (LNC)?

The Form 4 was filed on behalf of Reid James Waltman, who is listed as EVP Workplace Solutions and an officer of Lincoln National.

What securities and transaction date are reported on the LNC Form 4?

The filing concerns Common Stock of Lincoln National (LNC) with a reported transaction date of 08/10/2025.

Why did shares move according to the filing?

The filing states the movement was due to tax withholding upon vesting of restricted stock units (RSUs).

What correction to prior reporting does the Form 4 disclose?

The form discloses that prior dividend reinvestment amounts were overstated by 2,379.91 shares and that it includes 3,462.22 shares acquired through dividend reinvestment since the last report.

What share figures are shown on the Form 4?

The filing lists figures including 13,476 and 126,617.44 shares in connection with the reported entries, indicated as direct ownership.

Was the Form 4 filed by multiple reporting persons?

No. The form indicates it was a Form filed by one reporting person.