LINCOLN NATIONAL CORP — Director's Dealing 2015

Feb 28, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LINCOLN NATIONAL CORP (LNC)
CIK: 0000059558
Period of Report: 2015-02-25

Reporting Person: Miller Douglas N (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-02-25	Common Stock	A	8310	—	Acquired	16376.27	Direct
2015-02-25	Common Stock	F	2177	$58.26	Disposed	14199.27	Direct
2015-02-27	Common Stock	S	3000	$58.165	Disposed	11199.27	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-02-25	Employee Stock Option (Right to Buy)	$58.26	A	6755	Acquired	2025-02-25	Common Stock (6755)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	4612.55	Indirect

Footnotes

F1: The price reported in Column 4 is a weighted price. These shares were sold in multiple transactions at prices ranging from $58.11 to $58.22, inclusive. The reporting person undertakes to provide Lincoln National Corporation, any security holder of Lincoln National Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote 1 to this Form.

F2: The option vests ratably over 3 years beginning on the first anniversary of the grant date.