Kennedy John Christopher 4

What Happened
John Christopher Kennedy, EVP and Chief Distribution & Brand Officer of Lincoln National (LNC), had 23,801 shares withheld to satisfy tax withholding obligations upon vesting of restricted stock units. The withheld shares were valued at $36.03 each, for a total of approximately $857,550. This was a tax-withholding disposition (code F), not an open-market sale.

Key Details

• Transaction date: 2026-05-24; Filing date: 2026-05-26 (appears timely—filed within two business days).
• Price per share: $36.03; Shares withheld/disposed: 23,801; Total value: ~$857,550.
• Transaction code: F — payment of tax liability upon RSU vesting (net share settlement/withholding).
• Shares owned after transaction: not specified in the provided extract; footnotes indicate additional holdings via dividend reinvestment and the company 401(k).
• Footnotes: F1 = tax withholding upon vesting of RSUs; F2 = includes 1,461 shares acquired through dividend reinvestment since last report; F3 = reflects shares held through the company 401(k) as of 5/1/2026.

Context
Withholding shares to cover taxes on vested RSUs is a routine administrative action and does not necessarily signal a change in the insider’s view of the company. This is different from an open-market sale by the insider or a deliberate divestment plan.