LNC executive reports equity awards and tax shares

Lincoln National Corp executive James Waltman reported equity compensation changes in company common stock.

Rhea-AI Filing Summary

Lincoln National Corp executive James Waltman reported equity compensation changes in company common stock. On February 19, 2026, he acquired 42,810 shares upon settlement of a 2023-2025 performance share award and had 20,697 shares withheld at $40.10 per share to cover taxes. He also received a grant of 37,158 restricted stock units, which vest on February 19, 2029, representing a contingent right to receive additional LNC common shares.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Reid James Waltman

Role EVP, Pres. Workplace Solutions

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	42,810	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	20,697	$40.10	$830K
Grant/Award	Common Stock	37,158	$0.00	$0.00

Holdings After Transaction: Common Stock — 177,838 shares (Direct)

Footnotes (3)

1. F1. Represents acquisition of shares upon settlement of the performance share award for the 2023-2025 performance cycle.
2. F2. Tax withholding upon settlement of performance share award.
3. F3. Grant of restricted stock units representing a contingent right to receive shares of LNC common Stock. The restricted stock units vest on February 19, 2029.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did LNC executive James Waltman report on this Form 4?

James Waltman reported equity compensation-related activity in Lincoln National Corp common stock. He acquired shares from a settled 2023-2025 performance share award and received a new restricted stock unit grant, with some shares withheld to satisfy related tax obligations.

How many Lincoln National (LNC) shares did James Waltman acquire from performance awards?

James Waltman acquired 42,810 shares of Lincoln National common stock upon settlement of a performance share award for the 2023-2025 cycle, reflecting earned long-term incentive compensation tied to that period’s performance conditions and payout calculations.

What was the purpose of the share disposition reported by James Waltman at LNC?

The reported disposition of 20,697 shares of Lincoln National common stock was for tax withholding upon settlement of a performance share award, meaning shares were surrendered to cover tax liabilities rather than sold in an open-market transaction.

What restricted stock units did James Waltman receive from Lincoln National (LNC)?

James Waltman received a grant of 37,158 restricted stock units, each representing a contingent right to receive a share of Lincoln National common stock. These units are scheduled to vest on February 19, 2029, subject to applicable vesting conditions.

How many Lincoln National (LNC) shares does James Waltman hold after these transactions?

Following the reported transactions, one line of the filing shows James Waltman directly owning 140,680 shares of Lincoln National common stock, reflecting the net position after the performance award settlement and related tax-withholding share disposition.

Were James Waltman’s LNC transactions open-market buys or sells?

The filing describes grant and award acquisitions and a tax-withholding disposition, not open-market trades. Shares were acquired through equity compensation awards, and the disposition reflects shares withheld to pay taxes on that compensation event.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 02/23/2026 - 07:33 AM EST Learn about SEC filing dates

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

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^*

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, Pres. Workplace Solutions

3. Date of Earliest Transaction (Month/Day/Year)
02/19/2026

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	02/19/2026		A		42,810(1)	A	$0	161,377	D
Common Stock	02/19/2026		F		20,697(2)	D	$40.1	140,680	D
Common Stock	02/19/2026		A		37,158(3)	A	$0	177,838	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. Represents acquisition of shares upon settlement of the performance share award for the 2023-2025 performance cycle.

2. Tax withholding upon settlement of performance share award.

3. Grant of restricted stock units representing a contingent right to receive shares of LNC common Stock. The restricted stock units vest on February 19, 2029.

Remarks:

	/s/ Claire H. Hanna, Attorney-in-Fact	02/23/2026
	** 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.