Rallis Andrew 4

What Happened

• Andrew Rallis, EVP and Chief Risk Officer of Lincoln National (LNC), had 32,281 shares disposed on 2026-05-24 at $36.03 per share to satisfy tax withholding related to restricted stock unit vesting. The disposition equals approximately $1,163,084 in value. This was a tax-withholding/cashless-type transaction rather than an open-market sale for investment purposes.

Key Details

• Transaction date and price: 2026-05-24, 32,281 shares at $36.03 each.
• Total value of shares disposed: ~$1,163,084.
• Transaction type/code: Payment of exercise price or tax liability (Code F) — tax withholding upon RSU vesting.
• Shares owned after transaction: Not specified in the provided filing.
• Footnotes: F1 = tax withholding upon RSU vesting; F2 = includes 2,338 shares acquired via dividend reinvestment since the reporter’s last filing.
• Filing timeliness: Report filed 2026-05-26 for a 2026-05-24 transaction — appears to be filed within the typical 2-business-day window.

Context

• This was a routine withholding/sale to cover taxes on vested restricted stock units, a common administrative transaction that does not necessarily indicate the insider’s view of the company’s prospects.
• For retail investors, purchases by insiders often carry more informational weight than routine withholding sales; this filing alone should not be taken as a signal of material insider sentiment.