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Form 3 LINCOLN NATIONAL CORP For: Jun 01 Filed by: Tedrow Darrel W.

June 4, 2026 4:21 PM
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
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1. Name and Address of Reporting Person *
Tedrow Darrel W.

(Last) (First) (Middle)
150 N. RADNOR CHESTER ROAD

(Street)
RADNOR PA 19087

(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
06/01/2026
3. Issuer Name and Ticker or Trading Symbol
LINCOLN NATIONAL CORP [ LNC ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
EVP, President Life Ins & RSS
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Stock 34,014 (1)
D
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy) (2) 02/16/2032 Common Stock 1,837 73.51 D
Employee Stock Option (Right to Buy) (3) 12/05/2032 Common Stock 2,164 37.74 D
Employee Stock Option (Right to Buy) (4) 02/15/2033 Common Stock 3,777 34.99 D
Phantom Stock Units (5) (5) Common Stock 1,844.2 (5) D
Explanation of Responses:
1. Includes 8,985 restricted stock units ("RSUs") that vest on February 21, 2027, 8,974 RSUs that vest on February 19, 2028, 6,125 RSUs that vest on February 19, 2029, and 4,923 RSUs that vest on May 28, 2029.
2. The option vested in three equal installments on February 16, 2023, 2024 and 2025.
3. The option vested in full on December 5, 2025.
4. The option vested in three equal installments on February 15, 2024, 2025 and 2026.
5. Each Phantom Stock Unit is the equivalent of one share of LNC Common Stock. Represents stock units held in the LNC Deferred Compensation and Supplemental/Excess Retirement Plan (the "DC SERP"). The reporting person may transfer his investment in the Phantom Stock account into an alternative investment option in the DC SERP at any time.
/s/ Claire H. Hanna, Attorney-in-Fact 06/04/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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