Lincoln National caps executive severance at 2.99x salary+bonus; sets CFO Neczypor's pay

LINCOLN NATIONAL CORP

Board adopted policy limiting new executive cash severance to 2.99x base salary plus target bonus without shareholder ratification.
Policy also prohibits amending existing severance plans to increase benefits beyond that threshold without shareholder vote.
New CFO Christopher Neczypor (effective Feb 17, 2023) gets $800k base salary, 134% target AIP, and $1.825M LTIP target.
Neczypor remains eligible for existing severance plans (LNC CoC Plan and Officers' Severance Plan).

item 5.02 item 9.01

Executive movements

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Appointed

Christopher Neczypor

Chief Financial Officer

LNC · LINCOLN NATIONAL CORP

Effective: 2023-02-17
Filed: February 21, 2023, 6:59 PM ET

On February 15, 2023, the Compensation Committee of the Board approved the compensation for the Company’s new Chief Financial Officer, Christopher Neczypor, who assumed the role effective February 17, 2023, as previously disclosed on a Current Report on Form 8-K filed by the Company on February 8, 2023.

Key facts

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Executive change SEC 8-K Item 5.02 confidence 0.95

Christopher Neczypor was appointed as Chief Financial Officer at LINCOLN NATIONAL CORP.

Action: appointed
Role: Chief Financial Officer

Exact text from the filing

On February 15, 2023, the Compensation Committee of the Board approved the compensation for the Company’s new Chief Financial Officer, Christopher Neczypor, who assumed the role effective February 17, 2023, as previously disclosed on a Current Report on Form 8-K filed by the Company on February 8, 2023.

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LINCOLN NATIONAL CORP filing history →

Source: SEC EDGAR

accession 0001564590-23-002130

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