Lincoln National (LNC) director awarded 1,272.98 phantom stock units in board compensation
Filing Impact
Filing Sentiment
Form Type
4
Rhea-AI Filing Summary
LINCOLN NATIONAL CORP director Reginald E. Davis received a grant of phantom stock units as part of his board compensation. On this Form 4, he was awarded 1,272.98 Phantom Stock Units tied to LNC Common Stock, reported at a reference price of $35.35 per unit.
The award represents quarterly payment of his board retainer and fees under the Deferred Compensation Plan for Non-employee Directors, credited to the LNC Stock Fund and payable only in shares of LNC Common Stock upon resignation or retirement. After this grant and dividend reinvestment, he now holds 31,291.89 phantom stock units, including 355.68 units acquired through dividend reinvestment since his last report.
Positive
- None.
Negative
- None.
Insider Trade Summary
1 transaction reported
Mixed
1 txn
Insider
Davis Reginald E
Role
null
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Grant/Award | Phantom Stock Unit | 1,272.98 | $35.35 | $45K |
Holdings After Transaction:
Phantom Stock Unit — 31,291.89 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 355.68 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 phantom unit: $35.35 per unit
Total phantom units after grant: 31,291.89 units
+1 more
4 metrics
Phantom stock units granted
1,272.98 units
Quarterly board retainer grant
Reference price per phantom unit
$35.35 per unit
Reported transaction price
Total phantom units after grant
31,291.89 units
Holdings following transaction
Dividend reinvestment units
355.68 units
Acquired since last report via dividend reinvestment
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 355.68 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 did Lincoln National (LNC) director Reginald E. Davis report on this Form 4?
Reginald E. Davis reported receiving 1,272.98 Phantom Stock Units as a compensation grant. These units are tied to Lincoln National common shares and reflect quarterly board retainer and fees credited under the company’s deferred compensation plan for non-employee directors.
How many Lincoln National phantom stock units does Reginald E. Davis hold after this transaction?
After this transaction, Reginald E. Davis holds 31,291.89 Phantom Stock Units. This total includes both the new 1,272.98-unit grant and additional phantom units accumulated through prior awards and dividend reinvestment since his earlier ownership report.
What is a Phantom Stock Unit in the context of Lincoln National (LNC)?
Each Phantom Stock Unit is the equivalent of one share of Lincoln National common stock. The units track the value of the underlying shares and are ultimately payable in actual LNC common stock rather than in cash when the director leaves the board.
When will Reginald E. Davis receive Lincoln National common stock for these phantom units?
The phantom stock units are payable solely in shares of Lincoln National common stock at Davis’s resignation or retirement. Until then, they accumulate within the deferred compensation plan’s LNC Stock Fund investment account, mirroring the performance of the underlying common shares.
How were the new phantom stock units for Reginald E. Davis valued in this Form 4?
The 1,272.98 newly awarded Phantom Stock Units were reported at a price of $35.35 per unit. This reference price aligns each phantom unit’s value with Lincoln National common stock for reporting and accounting under the company’s director compensation arrangements.
Did dividend reinvestment affect Reginald E. Davis’s Lincoln National phantom unit holdings?
Yes. The filing notes that Davis’s phantom stock holdings include 355.68 units acquired through dividend reinvestment. These additional phantom units accumulated since his last report as dividends on the underlying Lincoln National stock were reinvested into the deferred compensation plan.