Davis Reginald E 4

What Happened

• Reginald E. Davis, a director of Lincoln National Corp (LNC), was awarded 1,267.61 phantom stock units on 2026-03-31. The award is reported as a derivative acquisition (code A) with a per-share value of $35.50, totaling $45,000.
• These units are Phantom Stock Units (each equal to one share of LNC common stock) granted as the quarterly board retainer/fee accrual under the Directors' Deferred Compensation Plan.

Key Details

• Transaction date and value: 2026-03-31; 1,267.61 units at $35.50 each; total value $45,000.
• Filing date / report period: Form 4 filed 2026-04-02 for period ending 2026-03-31. No late-filing flag was indicated in the provided data.
• Shares owned after transaction: Not specified in the filing excerpts provided.
• Footnotes of note:
  • F1: Each Phantom Stock Unit equals one share of LNC common stock.
  • F2: These units are accrued in the Directors' DCP and are payable solely in shares of LNC common stock upon resignation or retirement; units may be transferred to an alternative investment account within the plan.
  • F3: The reported amount includes 298.20 units acquired via dividend reinvestment since the last report.

Context

• This transaction is a compensation award to a non-employee director (not an open-market purchase or sale), so it reflects routine director pay rather than a discretionary buy or sell. Phantom units are derivative awards that convert to actual shares (payable in shares per plan terms) rather than immediate share sales.