[Form 4] LINCOLN NATIONAL CORP Insider Trading Activity

Rhea-AI Filing Summary

Lincoln National Corp (LNC) reported a Form 4 insider transaction for its EVP & General Counsel. On 11/24/2025, the executive had 1,331 shares of common stock disposed of in a transaction coded "F," which typically indicates shares withheld to cover taxes upon vesting of equity awards, at a price of $40.34 per share. After this transaction, the executive beneficially owned 97,483.56 shares of LNC common stock in direct ownership.

The filing explains that this balance reflects a correction to earlier reports, where dividend reinvestment transactions had been overstated by 32.47 shares in total due to an administrative error. It also includes 2,986.56 shares that were acquired through dividend reinvestment since the executive’s last report, giving investors an updated and more accurate picture of this officer’s current share holdings.

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^*

Beazer CraigT T

(Last) (First) (Middle)

150 N. RADNOR-CHESTER RD.

(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 & General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
11/24/2025

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	11/24/2025		F		1,331	D	$40.34	97,483.56(1)	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. 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 32.47 shares in the aggregate, and includes 2,986.56 shares acquired through dividend reinvestment since the reporting person's last report.

Remarks:

	/s/ Claire H. Hanna, Attorney-in-Fact	11/25/2025
	** 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

What insider transaction did LNC report for its EVP & General Counsel?

The EVP & General Counsel of Lincoln National Corp (LNC) reported a Form 4 transaction dated 11/24/2025, involving the disposition of 1,331 shares of LNC common stock in a transaction coded "F," which is typically used for tax withholding on equity awards.

How many Lincoln National Corp (LNC) shares does the executive own after this Form 4?

Following the reported transaction, the EVP & General Counsel beneficially owned 97,483.56 shares of LNC common stock in direct ownership.

What does the correction in the LNC Form 4 relate to?

The Form 4 states that prior reports had overstated shares acquired through dividend reinvestment by 32.47 shares in the aggregate because of an administrative error, and this filing corrects that figure.

How many shares were acquired through dividend reinvestment for the LNC executive?

The explanation notes that the reported holdings include 2,986.56 shares acquired through dividend reinvestment since the reporting person’s last Form 4.

What is transaction code "F" on the LNC insider Form 4?

The transaction is coded "F", which under Form 4 instructions indicates a transaction such as shares withheld by the issuer to satisfy tax obligations related to equity-based compensation.

Does this LNC Form 4 involve any derivative securities?

The Form 4 includes a section for derivative securities, but in the provided content there are no derivative transactions reported with quantities or dates filled in.