SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

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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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
Miller Douglas N

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

(Street)
RADNOR PA 19087

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
LINCOLN NATIONAL CORP [ LNC ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director 10% Owner
X Officer (give title below) Other (specify below)
VP & CAO
3. Date of Earliest Transaction (Month/Day/Year)
09/02/2014
4. 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 Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 09/02/2014 M 5,281 A $30.64 14,373.94 (1) D
Common Stock 09/02/2014 M 6,451 A $24.99 20,824.94 D
Common Stock 09/02/2014 M 4,588 A $29.54 25,412.94 D
Common Stock 09/02/2014 S 16,320 D $55.6392 (2) 9,092.94 D
Common Stock 4,668.28 (3) I By 401(k)
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy) $30.64 09/02/2014 M 5,281 02/23/2012 (4) 02/23/2021 Common Stock 5,281 $0 0 D
Employee Stock Option (Right to Buy) $24.99 09/02/2014 M 6,451 02/22/2013 (5) 02/22/2022 Common Stock 6,451 $0 3,227 D
Employee Stock Option (Right to Buy) $29.54 09/02/2014 M 4,588 02/28/2014 (6) 02/28/2023 Common Stock 4,588 $0 9,177 D
Explanation of Responses:
1. Includes 42.91 shares acquired through dividend reinvestment since the reporting person's last report.
2. The price reported in Column 4 is a weighted price. These shares were sold in multiple transactions at prices ranging from $55.60 to $55.71, inclusive. The reporting person undertakes to provide Lincoln National Corporation, any security holder of Lincoln National Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote 2 to this Form.
3. Represents routine transactions in the Company's 401(k) Plan from 4/1/2014 to 8/1/2014.
4. The option vested in three equal installments on February 23, 2012, 2013 and 2014.
5. The option vests in three equal installments on February 22, 2013, 2014 and 2015.
6. The option vests in three equal installments on February 28, 2014, 2015 and 2016.
Remarks:
/s/ Charles A. Brawley, III, Attorney-in-Fact 09/02/2014
** 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).
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