Woodroffe Sean 4

What Happened Sean Woodroffe, an Executive Vice President (listed as "EVP, Ch Ppl Comms Ent Srvc Off") at Lincoln National Corporation (LNC), executed two related insider transactions. On 2026-03-02 he sold 10,000 shares in an open-market sale for a weighted-average price of $34.46, generating proceeds of $344,600. On 2026-02-27 he acquired 10,204.08 phantom stock units (a derivative that mirrors common shares) in a discretionary transaction at $34.30 per unit, valued at $350,000. The sale is a disposition; the acquisition is a derivative award held in a deferred compensation plan.

Key Details

• Sale: 10,000 shares sold on 2026-03-02 at a weighted-average price of $34.46 for total proceeds of $344,600. (Footnote: sale prices ranged from $34.44 to $34.51.)
• Acquisition: 10,204.08 phantom stock units acquired on 2026-02-27 at $34.30 per unit, total value $350,000. These are phantom units in the LNC Deferred Compensation and Supplemental/Excess Retirement Plan (DC SERP).
• Shares owned after the transactions: not specified in the filing.
• Transaction codes: S = open-market sale; I = discretionary/derivative acquisition.
• Filing timeliness: Report filed 2026-03-02. Both transactions were reported within the Form 4 filing window (timely).
• Footnotes: F1 explains the weighted-average sale price and range; F2 explains phantom stock units equal one share and can be transferred into alternate DC SERP investments.

Context

• The acquisition was of phantom stock units (deferred-compensation units equivalent to common shares), not an open-market purchase of LNC common stock — these reflect compensation/deferral mechanics rather than a direct bullish cash purchase.
• The sale was an open-market disposition; routine sales by executives can be for many reasons (liquidity, tax planning, diversification) and do not by themselves indicate company outlook.