{"schema_version":"secwatch.filing_event.v1","accession":"0000059558-25-000035","form_type":"8-K","ticker":"LNC","cik":"0000059558","company_name":"LINCOLN NATIONAL CORP","filed_at":"2025-04-09T23:59:59+00:00","discovered_at":"2026-05-14T18:02:51.024079+00:00","generated_at":"2026-05-23T18:38:56.651300+00:00","sec_items":["3.02","7.01","9.01"],"event_type":"m_and_a","sentiment":"positive","materiality_score":0.85,"calibrated_materiality_score":0.85,"confidence":"high","headline":"Lincoln sells 9.9% stake to Bain Capital for $825M; 10-year asset mgmt pact","bullets":["Bain Capital buys ~18.8M shares at $44.00/share, a 25% premium to 30-day VWAP.","Transaction provides $825M growth capital; expected to close H2 2025.","Bain Capital gets board observer rights, later voting board seat after 1 year.","Bain Capital will manage $1.4B of general account assets, growing to $20B over 6 years.","Lincoln intends to use capital to reduce leverage toward 25% target and fund strategic priorities."],"urls":{"canonical":"https://secwatch.observer/filing/0000059558-25-000035","json":"https://secwatch.observer/filing/0000059558-25-000035.json","markdown":"https://secwatch.observer/filing/0000059558-25-000035.md","text":"https://secwatch.observer/filing/0000059558-25-000035.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/59558/000005955825000035/0000059558-25-000035-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/59558/000005955825000035/lnc-20250409.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-23T18:38:56.651300+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}