Form 4: Lincoln National Director Acquires Phantom Stock Units

Lincoln National Corp. director James T. Morris acquired phantom stock units equivalent to 1,272.98 shares of common stock on June 30, 2026, as part of his board compensation.

Summary

• James T. Morris, a Director at Lincoln National Corp. (LNC), acquired 1,272.98 phantom stock units on June 30, 2026.
• These phantom stock units are equivalent to shares of LNC Common Stock and are part of his compensation for board services.
• The acquisition occurred under the LNC Deferred Compensation Plan for Non-employee Directors.
• These units are payable solely in shares of LNC Common Stock upon resignation or retirement.
• Morris also holds 6,533.01 shares of common stock directly.
• The filing also notes an additional 62.33 shares acquired through dividend reinvestment since the last report.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral filing, as it reports a routine compensation-related transaction by a director and does not contain new financial performance data or strategic updates.

Positives

• Director compensation is being paid in equity-linked instruments, aligning director interests with shareholders.
• Dividend reinvestment indicates continued accumulation of shares by the director.

Negatives

• The filing does not contain any negative financial or operational information.

Risks

• The value of the phantom stock units is tied to the performance of LNC Common Stock, exposing the director to market volatility.
• The phantom stock units are payable at resignation or retirement, meaning the director cannot liquidate them immediately for cash.

Future Outlook

The filing does not contain forward-looking statements or guidance. It is a report of a transaction that has already occurred.

Industry Context

StockSavvy.ai notes that the use of phantom stock units for director compensation is a common practice in the financial services industry, aiming to align executive and director interests with long-term shareholder value.

Related Party Transactions

• The acquisition of phantom stock units by Director James T. Morris is a transaction between the company and a related party (director).

Stakeholder Impact

• Shareholders: The transaction reflects a standard compensation practice that aligns director interests with stock performance. Dividend reinvestment shows continued share accumulation.
• Employees: No direct impact mentioned.
• Creditors: No direct impact mentioned.
• Suppliers: No direct impact mentioned.
• Customers: No direct impact mentioned.

Next Steps

• The phantom stock units will be paid out in shares of LNC Common Stock upon the reporting person's resignation or retirement.
• The reporting person may transfer phantom stock unit holdings into an alternative investment account within the Director's DCP at any time.

Key Dates

Keywords

Lincoln National Corp, LNC, Form 4, Insider Trading, Director Compensation, Phantom Stock Units, Beneficial Ownership, Securities Exchange Act