LINCOLN NATIONAL CORP — Director's Dealing 2021

May 11, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LINCOLN NATIONAL CORP (LNC)
CIK: 0000059558
Period of Report: 2021-05-07

Reporting Person: Kennedy John Christopher (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-05-07	Common Stock	A	2816	—	Acquired	9672.98	Direct
2021-05-07	Common Stock	A	4330	—	Acquired	14002.98	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2021-05-07	Employee Stock Option (right to buy)	$69.30	A	9044	Acquired	2031-05-07	Common Stock (9044)	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock	6046.14	Indirect

Footnotes

F1: Grant of restricted stock units representing a contingent right to receive shares of LNC common stock. The restricted stock units vest on May 7, 2024.

F2: Includes 34.98 shares acquired through dividend reinvestment since the reporting person's last report.

F3: Represents the number of shares of common stock beneficially owned through the Company's 401(k) Plan as of 5/3/2021.

F4: The option vests in three equal installments on May 7, 2022, 2023 and 2024.