Lincoln National (LNC) director adds phantom stock units in deferred pay grant
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
CUNNINGHAM WILLIAM H DR reported acquisition or exercise transactions in this Form 4 filing.
Lincoln National Corp director William H. Cunningham received a grant of phantom stock units as part of his quarterly board compensation. He was awarded 1,697.31 Phantom Stock Units, each equal to one share of Lincoln National common stock, credited at a reference price of $35.35 per unit.
After this award and prior accruals, his deferred phantom stock balance totals 198,389.54 units. These units are held in the company’s Deferred Compensation Plan for Non-employee Directors and are payable only in Lincoln National common shares upon his resignation or retirement. The balance also includes 2,330.48 shares equivalent from dividend reinvestment since his last report.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
CUNNINGHAM WILLIAM H DR
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Unit | 1,697.31 | $35.35 | $60K |
Holdings After Transaction:
Phantom Stock Unit — 198,389.54 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 Directors' DCP at any time. Includes 2,330.48 shares acquired through dividend reinvestment since the reporting person's last report.
Key Figures
Phantom units granted: 1,697.31 units
Reference price per unit: $35.35 per unit
Total phantom units after grant: 198,389.54 units
+2 more
5 metrics
Phantom units granted
1,697.31 units
Quarterly board retainer grant on 2026-06-30
Reference price per unit
$35.35 per unit
Used to calculate number of phantom units
Total phantom units after grant
198,389.54 units
Balance following transaction
Dividend reinvestment units
2,330.48 units
Units from dividend reinvestment since last report
Underlying common stock
1,697.31 shares
Underlying common shares for new phantom units
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 2,330.48 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 of LNC Common Stock"
FAQ
What did Lincoln National Corp (LNC) director William Cunningham report on this Form 4?
He reported receiving 1,697.31 Phantom Stock Units as a grant of deferred board compensation. These units mirror Lincoln National common stock value and increase his total phantom balance to 198,389.54 units held in the non-employee directors’ deferred compensation plan.
What is a Phantom Stock Unit in Lincoln National Corp’s director plan?
A Phantom Stock Unit is the equivalent of one share of Lincoln National common stock for bookkeeping purposes. It tracks the stock’s value and dividends but pays out only in actual common shares when the director resigns or retires from the board.
How many phantom stock units does William Cunningham hold after this transaction at Lincoln National (LNC)?
Following this grant, he holds 198,389.54 Phantom Stock Units tied to Lincoln National common stock. This total reflects his new quarterly award plus previously accumulated units, including additional units from dividend reinvestment since his prior Form 4 filing.
At what value were William Cunningham’s new Lincoln National phantom units credited?
The 1,697.31 new Phantom Stock Units were credited at a reference price of $35.35 per unit. This price is used solely to determine how many units correspond to his quarterly retainer and fee amount under the deferred compensation plan.
How did dividend reinvestment affect William Cunningham’s Lincoln National phantom stock balance?
His reported holdings include 2,330.48 phantom units acquired through dividend reinvestment since his last report. Instead of cash, dividends on existing phantom units generated additional units, increasing his deferred stock-based compensation balance over time.