SEC Form 3

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* Kennedy John Christopher (Last) (First) (Middle) 150 N. RADNOR-CHESTER ROAD (Street) RADNOR PA 19087 (City) (State) (Zip)	2. Date of Event Requiring Statement (Month/Day/Year) 03/10/2021	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 LFD	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	6,822	D
Common Stock	6,014.6(1)	I	By 401(k)

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)	02/24/2026	Common Stock	3,236	$35.5	D
Employee Stock Option (Right to Buy)	(3)	02/22/2027	Common Stock	4,888	$71.7	D
Employee Stock Option (Right to Buy)	(4)	02/21/2028	Common Stock	5,078	$78.32	D
Employee Stock Option (Right to Buy)	(5)	02/27/2029	Common Stock	7,485	$63.01	D
Employee Stock Option (Right to Buy)	(6)	02/19/2030	Common Stock	8,086	$60.86	D
Employee Stock Option (Right to Buy)	(7)	02/17/2031	Common Stock	6,032	$54.52	D
Phantom Stock Units	(8)	(8)	Common Stock	31,654.31	(8)	D

Explanation of Responses:

1. Represents the number of shares of common stock beneficially owned through the Company's 401(k) Plan as of 3/10/21.

2. The option vested in three equal installments on February 24, 2017, 2018 and 2019.

3. The option vested in three equal installments on February 22, 2018, 2019 and 2020.

4. The option vested in three equal installments on February 21, 2019, 2020 and 2021.

5. The option vests in three equal installments on February 27, 2020, 2021 and 2022.

6. The option vests in three equal installments on February 19, 2021, 2022 and 2023.

7. The option vests in three equal installments on February 17, 2022, 2023 and 2024.

8. Each Phantom Stock Unit is the equivalent of one share of LNC Common Stock. Represents stock units held in the LNC DC SERP. The reporting person may transfer his Phantom Stock account into an alternative investment account at any time.

Remarks:

	/s/ Claire H. Hanna, Attorney-in-Fact	03/19/2021
	** 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 5 (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).
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