secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN NATIONAL CORP (LNC)
CIK:        0000059558
Form:       8-K
Filed at:   2025-05-23T23:59:59+00:00
Accession:  0000059558-25-000049
Event type: other_material
Sentiment:  neutral
Materiality: 0.50
Item codes: 5.02, 5.03, 5.07, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/59558/000005955825000049/0000059558-25-000049-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/59558/000005955825000049/lnc-20250522.htm
  HTML page:      https://secwatch.observer/filing/0000059558-25-000049

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer