secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN NATIONAL CORP (LNC)
CIK:        0000059558
Form:       8-K
Filed at:   2023-02-21T23:59:59+00:00
Accession:  0001564590-23-002130
Event type: other_material
Sentiment:  neutral
Materiality: 0.30
Item codes: 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/59558/000156459023002130/0001564590-23-002130-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/59558/000156459023002130/lnc-8k_20230215.htm
  HTML page:      https://secwatch.observer/filing/0001564590-23-002130

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