Lincoln National Corp. Files Definitive Proxy Statement (DEF 14A)

Ticker: LNC-PD · Form: DEF 14A · Filed: Apr 11, 2024 · CIK: 59558

Lincoln National Corp DEF 14A Filing Summary
FieldDetail
CompanyLincoln National Corp (LNC-PD)
Form TypeDEF 14A
Filed DateApr 11, 2024
Risk Levellow
Pages14
Reading Time17 min
Key Dollar Amounts$100 billion
Sentimentneutral

Sentiment: neutral

Topics: Proxy Statement, Executive Compensation, Equity Awards, Lincoln National Corp, DEF 14A

TL;DR

<b>Lincoln National Corp. files its Definitive Proxy Statement (DEF 14A) detailing executive compensation and equity awards for fiscal years 2020-2023.</b>

AI Summary

LINCOLN NATIONAL CORP (LNC-PD) filed a Proxy Statement (DEF 14A) with the SEC on April 11, 2024. Filing is a Definitive Proxy Statement (DEF 14A) for Lincoln National Corp. The filing covers the period ending May 23, 2024, and was filed on April 11, 2024. Includes data related to executive compensation, specifically equity awards for fiscal years 2020-2023. Details changes in fair value of equity awards for PEO and Non-PEO members, including Ms. Cooper and Mr. Glass. Contains information on grant date fair value and fair value at fiscal year-end for unvested equity awards.

Why It Matters

For investors and stakeholders tracking LINCOLN NATIONAL CORP, this filing contains several important signals. This filing provides crucial details on executive compensation structures, particularly equity awards, which can influence investor perceptions of management alignment and company performance. Understanding the changes in fair value of equity awards and their vesting schedules offers insight into potential future dilution and the incentives driving key executives.

Risk Assessment

Risk Level: low — LINCOLN NATIONAL CORP shows low risk based on this filing. The filing is a routine proxy statement and does not contain new financial performance data or significant strategic shifts, indicating a low level of immediate risk.

Analyst Insight

Investors should review the executive compensation details, especially equity award valuations and changes, to assess management incentives and potential shareholder dilution.

Key Numbers

  • 2023-12-31 — Fiscal Year End (Reporting period for compensation data)
  • 2024-04-11 — Filing Date (Date of DEF 14A submission)
  • 2020-01-01 — Start of Data Period (Earliest fiscal year included in compensation data)

Key Players & Entities

  • LINCOLN NATIONAL CORP (company) — Filer
  • Ms. Cooper (person) — Executive compensation details
  • Mr. Glass (person) — Executive compensation details

FAQ

When did LINCOLN NATIONAL CORP file this DEF 14A?

LINCOLN NATIONAL CORP filed this Proxy Statement (DEF 14A) with the SEC on April 11, 2024.

What is a DEF 14A filing?

A DEF 14A is a definitive proxy statement sent to shareholders before annual meetings, covering executive compensation, board nominations, and shareholder votes. This particular DEF 14A was filed by LINCOLN NATIONAL CORP (LNC-PD).

Where can I read the original DEF 14A filing from LINCOLN NATIONAL CORP?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by LINCOLN NATIONAL CORP.

What are the key takeaways from LINCOLN NATIONAL CORP's DEF 14A?

LINCOLN NATIONAL CORP filed this DEF 14A on April 11, 2024. Key takeaways: Filing is a Definitive Proxy Statement (DEF 14A) for Lincoln National Corp.. The filing covers the period ending May 23, 2024, and was filed on April 11, 2024.. Includes data related to executive compensation, specifically equity awards for fiscal years 2020-2023..

Is LINCOLN NATIONAL CORP a risky investment based on this filing?

Based on this DEF 14A, LINCOLN NATIONAL CORP presents a relatively low-risk profile. The filing is a routine proxy statement and does not contain new financial performance data or significant strategic shifts, indicating a low level of immediate risk.

What should investors do after reading LINCOLN NATIONAL CORP's DEF 14A?

Investors should review the executive compensation details, especially equity award valuations and changes, to assess management incentives and potential shareholder dilution. The overall sentiment from this filing is neutral.

How does LINCOLN NATIONAL CORP compare to its industry peers?

Lincoln National Corporation operates in the life insurance industry, a sector characterized by long-term financial products and regulatory oversight.

Are there regulatory concerns for LINCOLN NATIONAL CORP?

As a life insurance provider, Lincoln National is subject to state and federal regulations governing financial solvency, consumer protection, and market conduct.

Industry Context

Lincoln National Corporation operates in the life insurance industry, a sector characterized by long-term financial products and regulatory oversight.

Regulatory Implications

As a life insurance provider, Lincoln National is subject to state and federal regulations governing financial solvency, consumer protection, and market conduct.

What Investors Should Do

  1. Review the detailed breakdown of executive compensation, focusing on the types and values of equity awards granted.
  2. Analyze the changes in fair value of equity awards over the fiscal years to understand potential executive wealth accumulation and incentive alignment.
  3. Compare the compensation practices disclosed in this DEF 14A with industry peers to gauge relative executive pay levels and structures.

Key Dates

  • 2024-04-11: Filing of DEF 14A — Indicates the formal submission of proxy materials for shareholder review.
  • 2024-05-23: Conformed Period of Report — Defines the end date for the reporting period covered by the proxy statement.

Year-Over-Year Comparison

This filing is a DEF 14A, which is a standard disclosure for proxy solicitations and annual meetings, not a report on recent financial performance or material events.

Filing Stats: 4,273 words · 17 min read · ~14 pages · Grade level 17.1 · Accepted 2024-04-11 08:40:49

Key Financial Figures

  • $100 billion — tive year of positive flows, surpassing $100 billion in end-of-period account balances for t

Filing Documents

Executive Compensation Tables

Executive Compensation Tables 73 Summary Compensation Table 73 Grants of Plan-Based Awards 76 Outstanding Equity Awards at Fiscal Year-End 78 Option Exercises and Stock Vested 80 Pension Benefits 81 Nonqualified Deferred Compensation 82 Potential Payments upon Termination or Change of Control 84 CEO Pay Ratio 91 Pay Versus Performance 92 Agenda Item 4 – Approval of Amendment to LNC 2020 Incentive Compensation Plan 97 Agenda Item 5 – Shareholder Proposal Regarding Independent Board Chairman 108 Compensation Committee Interlocks and Insider Participation 112 Related-Party Transactions 112

Security Ownership

Security Ownership 114 Annual Meeting Information 116 General Information 121 Shareholder Proposals for the 2025 Annual Meeting 121 Incorporation by Reference 121 Annual Report 121 Additional Voting Matters 122 Exhibit 1 – Definitions for Incentive Compensation Programs E-1 Exhibit 2 – Amendment No. 3 to LNC 2020 Incentive Compensation Plan E-7 IMPORTANT NOTICE REGARDING THE AVAILABILITY OF PROXY MATERIALS FOR THE ANNUAL MEETING OF SHAREHOLDERS TO BE HELD ON May 23, 2024: This 2024 proxy statement and notice of annual meeting of shareholders and the 2023 annual report are available at: www.proxyvote.com. Lincoln National Corporation 2024 Proxy Statement Table of Contents Proxy Summary Proxy Summary This summary highlights certain information for your convenience. Since it does not contain all of the information you should consider, we encourage you to read the entire proxy statement carefully before voting. Annual Meeting of Shareholders Date / Time Location Voting Thursday, May 23, 2024 9:00 a.m. EDT Record Date March 18, 2024 Virtual Meeting Format www.virtualshareholdermeeting.com/LNC2024 Shareholders as of the record date are entitled to vote. Each share of common stock and each share of preferred stock is entitled to one vote for each director nominee and one vote for each of the other proposals. Each Series C Depositary Share vote represents the vote of 1/25 th of a share of Series C Preferred Stock, and each Series D Depositary Share vote represents the vote of 1/1,000 th of a share of Series D Preferred Stock. Voting Matters Agenda Item Our Board's Voting Recommendation Where to Find More Information 1.Election of twelve directors for a one-year term expiring at the 2025 Annual Meeting of Shareholders. FOR each director nominee Page 25 2.Ratification of the appointment of Ernst & Young LLP as the independent registered public accounting firm for 2024. FOR the ratification Page

Executive compensation program strongly links pay and performance

Executive compensation program strongly links pay and performance Limited perquisites for executive officers Caps on awards under annual and long-term incentive programs No repricing or exchan

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