Lincoln National amends incentive plan, adds 1.75M shares, cuts board to 10

LINCOLN NATIONAL CORP

Shareholders approved Amendment No. 4 to 2020 Incentive Plan, increasing shares by 1.75M to 17.8M.
Maximum cash annual incentive for non-director participants raised from $8M to $12M.
Board size reduced from 11 to 10 directors, effective May 22, 2025.
All 10 director nominees elected; advisory 'say-on-pay' passed with ~94% of votes cast.
Non-binding shareholder proposal for independent board chair defeated (38% for, 62% against).

item 5.02item 5.03item 5.07item 9.01

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.