---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-23-295483"
form_type: "8-K"
ticker: "LNC"
cik: "0000059558"
company_name: "LINCOLN NATIONAL CORP"
filed_at: "2023-12-14T23:59:59+00:00"
generated_at: "2026-06-07T13:10:15.314941+00:00"
event_type: "m_and_a"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Lincoln National sells wealth management business to Osaic for ~$700M capital benefit

## Summary
- Sale includes Lincoln Financial Advisors and Lincoln Financial Securities with ~1,450 financial professionals.
- Expected ~$700M capital benefit primarily to increase risk-based capital ratio and reduce leverage.
- Transaction expected to close first half of 2024, subject to customary regulatory approvals.
- Lincoln retains Lincoln Financial Distributors (LFD) wholesale distribution franchise and independent agents.
- No material impact on ongoing free cash flow or earnings anticipated from the sale.

## SEC filing metadata
- accession: 0001193125-23-295483
- form_type: 8-K
- ticker: LNC
- cik: 0000059558
- company_name: LINCOLN NATIONAL CORP
- filed_at: 2023-12-14T23:59:59+00:00
- event_type: m_and_a
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 8.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/59558/000119312523295483/0001193125-23-295483-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/59558/000119312523295483/d591735d8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-23-295483
- JSON: https://secwatch.observer/filing/0001193125-23-295483.json
- Plain text: https://secwatch.observer/filing/0001193125-23-295483.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.