KELLY GARY C 4
4 · LINCOLN NATIONAL CORP · Filed Apr 2, 2026
Research Summary
AI-generated summary of this filing
LNC Director Gary C. Kelly Receives $45K Phantom Stock Award
What Happened
Gary C. Kelly, a director of Lincoln National Corp (LNC), was granted 1,267.61 phantom stock units on 2026-03-31. The units are recorded at $35.50 each for a total reported value of $45,000. This was an award (derivative grant), part of routine director compensation, not an open‑market purchase or sale.
Key Details
- Transaction date and price: 2026-03-31; 1,267.61 units at $35.50 each (total $45,000).
- Transaction type: Grant/Award (derivative phantom stock units).
- Shares owned after transaction: Not specified in the provided filing.
- Filing date: 2026-04-02; no late filing flag indicated (appears timely).
- Footnotes: (F1) Each Phantom Stock Unit equals one share of LNC common stock. (F2) These units represent quarterly board retainer/fee accruals under the Directors’ Deferred Compensation Plan and are payable in shares upon resignation/retirement; the reporting person can transfer phantom units to an alternative investment account.
Context
Phantom stock units are a form of deferred compensation that mirror the value of company shares and are typically settled in actual shares at a future event (e.g., retirement). Such awards are routine for non-employee directors and do not represent an open-market purchase (so they are less of an immediate bullish signal than an insider buy).
Insider Transaction Report
- Award
Phantom Stock Unit
[F1][F2]2026-03-31$35.50/sh+1,267.61$45,000→ 110,769.88 total→ Common Stock (1,267.61 underlying)
Footnotes (2)
- [F1]Each Phantom Stock Unit is the equivalent of one share of LNC Common Stock.
- [F2]Quarterly payment of board retainer and fees in shares of phantom stock accrued under the LNC Deferred Compensation Plan for Non-employee Directors (the "Directors' DCP") in the LNC Stock Fund investment account, which are payable solely in shares of LNC Common Stock at resignation or retirement. The reporting person may transfer his/her phantom stock unit holdings into an alternative investment account in the Directors' DCP at any time.