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LINCOLN NATIONAL CORP Director's Dealing 2007

Jan 3, 2007

30767_dirs_2007-01-03_9a25b4c8-e487-4987-a004-41161aedef50.zip

Director's Dealing

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SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LINCOLN NATIONAL CORP (LNC)
CIK: 0000059558
Period of Report: 2006-12-31

Reporting Person: Reeves Elizabeth Laws (SVP & CHRO)

Non-Derivative Transactions

Date Security Code Shares Price A/D Holdings After Ownership
2006-12-31 Common Stock A 137.76 $66.40 Acquired 11139.84 Direct

Holdings (Non-Derivative)

Security Shares Ownership
Common Stock 604.95 Indirect

Footnotes

F1: Includes 45.73 shares acquired through dividend reinvestment since the reporting person's last report.

F2: Represents routine transactions in the Company's 401(k) Plan from 9/1/06 to 1/1/07.