LINCOLN NATIONAL CORP — Director's Dealing 2012

Apr 3, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LINCOLN NATIONAL CORP (LNC)
CIK: 0000059558
Period of Report: 2012-03-30

Reporting Person: Fuller Wilford H. (President - LFD)

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-03-30	Phantom Stock Units	$	I	5959.02	Acquired		Common Stock (5959.02)	Direct

Footnotes

F1: Each Phantom Stock Unit is the equivalent of one share of LNC Common Stock. Represents stock units held in the LNC DC SERP that may be settled in Common Stock only. The reporting person may transfer his/her Phantom Stock account into an alternative investment account at any time.

F2: Represents Phantom Stock Units acquired in the LNC DC SERP in accordance with the officer's election. The acquisition of these Phantom Stock Units occur in a quarterly sweep transaction.