Reid James Waltman 4

What Happened

• Reid James Waltman, EVP and President, Workplace Solutions at Lincoln National (LNC), received a settlement of performance shares and a separate grant of restricted stock units on Feb 19, 2026. He acquired 42,810 shares upon settlement of the 2023–2025 performance-share award (no cash cost). To satisfy tax withholding on that settlement, 20,697 shares were withheld/disposed at $40.10 per share, valued at about $829,950. In addition, Waltman was granted 37,158 restricted stock units (RSUs) that vest on February 19, 2029.

Key Details

• Transaction date: February 19, 2026.
• Acquisitions: 42,810 shares from performance-share settlement (code A) and 37,158 RSUs granted (code A; vest 2/19/2029).
• Withholding/disposition: 20,697 shares withheld to cover taxes at $40.10, total value ≈ $829,950 (code F).
• Footnotes: F1 = settlement of 2023–2025 performance-share award; F2 = tax withholding upon settlement; F3 = RSUs granted, vest 2/19/2029.
• Filing: Report filed Feb 23, 2026 for transactions occurring Feb 19, 2026 — appears timely (within the typical Form 4 reporting window).
• Shares owned after the transactions: Not specified in the filing.

Context

• The 20,697-share disposition was a tax-withholding action related to the performance-share settlement, not an open-market sale; such withholdings are routine and do not necessarily indicate a change in sentiment. The newly granted RSUs are time-vesting (four-year vest), representing future compensation rather than immediate stock purchases.