LACHMAN M LEANNE 4

4 · LINCOLN NATIONAL CORP · Filed Jul 2, 2026

AI-generated summary of this filing

Updated Jul 2, 2026

Lincoln National (LNC) Director Leanne Lachman Receives Award

What Happened

Leanne M. Lachman, a director of Lincoln National Corp. (LNC), received an award of 1,272.98 phantom stock units on 2026-06-30. The units are valued at $35.35 each for a total reported value of $45,000. The transaction is reported as a derivative award (phantom stock units), not an open-market purchase.

Key Details

Transaction date and value: 2026-06-30; 1,272.98 units @ $35.35 = $45,000 (derivative grant).
Shares owned after transaction: not specified in the Form 4 filing.
Footnotes:
- F1: Each Phantom Stock Unit equals one share of LNC common stock.
- F2: These units represent a quarterly payment of board retainer/fees under the Directors’ Deferred Compensation Plan (payable in shares at resignation/retirement); units can be moved into an alternative investment account.
- F3: The total includes 486.60 units acquired via dividend reinvestment since the last report.
Filing timeliness: Form filed 2026-07-02 for a 2026-06-30 transaction; the filing shows no late-filing flag.

Context

This was a compensation award of phantom stock units (derivative units) paid as part of director compensation — a routine, non-cash grant rather than a market buy or sell. Phantom units typically convert to actual shares (or cash equivalent) per plan terms upon resignation/retirement, so this does not directly signal immediate buying or selling of stock.

Form 4

Period: 2026-06-30

Director

Transactions

Award
Phantom Stock Unit
[F1][F2][F3]
2026-06-30$35.35/sh+1,272.98$45,000→ 42,341.07 total
→ Common Stock (1,272.98 underlying)

Footnotes (3)

[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 Director's DCP at any time.
[F3]Includes 486.60 shares acquired through dividend reinvestment since the reporting person's last report.

Signature

/s/ Claire H. Hanna, Attorney-in-Fact|2026-07-02

1 file