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LINCOLN NATIONAL CORP Director's Dealing 2012

Apr 3, 2012

30767_dirs_2012-04-03_1c58fca1-d7bc-49c0-9fe1-ff17f9c7b3ed.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: 2012-03-30

Reporting Person: LACHMAN M LEANNE (Director)

Derivative Transactions

Date Security Exercise Price Code Shares A/D Expiration Underlying Ownership
2012-03-30 Phantom Stock Units $ A 739.76 Acquired Common Stock (739.76) Direct

Footnotes

F1: Each share of phantom stock represents the right to receive one share of LNC common stock.

F2: Quarterly payment of board retainer and fees in shares of phantom stock accrued under the Deferred Compensation Plan for Non-Employee Directors (the "Plan"), which are payable solely in shares of the Company's common stock at resignation or retirement. The reporting person may transfer his/her phantom stock account into an alternative investment account at any time.

F3: Includes 53.24 shares acquired through dividend reinvestment since the reporting person's last report.