LACHMAN M LEANNE 4

What Happened

• Leanne M. Lachman, a director of Lincoln National Corporation (LNC), received 1,267.61 phantom stock units as an award on 2026-03-31. The units are valued at $35.50 each for a total of $45,000. This was a derivative award (phantom stock) granted as part of director compensation, not an open-market buy or sale.

Key Details

• Transaction date: 2026-03-31; filing date: 2026-04-02 (no late filing indicated in the provided data).
• Award: 1,267.61 Phantom Stock Units at $35.50 per unit — total value $45,000.
• Nature of instrument: Phantom Stock Units (derivative). Each unit equals one share of LNC common stock (Footnote 1).
• Compensation context: Quarterly board retainer and fees accrued in phantom stock under the Directors' Deferred Compensation Plan; payable solely in shares of LNC common stock at resignation/retirement (Footnote 2).
• Dividend reinvestment: The reported amount includes 412.86 shares acquired through dividend reinvestment since the last report (Footnote 3).
• Shares owned after the transaction: Not specified in the provided filing excerpt.

Context

• These phantom stock units are deferred compensation for a non-employee director and represent the economic equivalent of company shares but are payable in actual shares only upon resignation/retirement (or transferable within the plan). Such routine director awards are common and do not by themselves signal a buy/sell decision by the insider.