X0201 5 2003-12-31 0 0 0 0000059558 LINCOLN NATIONAL CORP LNC 0001228945 GLAZIER JASON CENTRE SQUARE - WEST TOWER 1500 MARKET STREET, STE 3900 PHILADELPHIA PA 191022112 0 1 0 0 SVP Technology DCP Phantom Stock Units 0.00 2003-12-31 5 A 0 299.92 A 1988-08-08 1988-08-08 Common Stock 299.92 3465.11 D Phantom Performance Stock Unit 25.11 2003-12-31 5 A 0 269.86 0 A 1988-08-08 2006-03-31 Common Stock 269.86 9829.86 D Lincoln National Corporation Executive Deferred Compensation Plan for Employees. DCP Phantom Stock Units are acquired periodically by the reporting person at the then current market price for LNC Common Stock. Reporting person acquired DCP phantom stock units periodically from 1/1/2003 through 12/31/2003. Phantom Stock Units acquired by the reporting person pursuant to the Deferred Compensation Plan will be settled in LNC Common Stock upon the reporting person's death, disability, or termination of employment. DCP Phantom Stock Units are acquired periodically by the reporting person through an election to defer compensation under the Plan, but have no fixed exercisable date and are subject to settlement in shares of LNC Common Stock upon the reporting person's death, retirement or termination of employment. DCP Phantom Stock Units have no fixed expiration date and are subject to settlement in shares of LNC Common Stock upon the reporting person's death, disability, retirement or termination of employment. DCP Phantom Stock Units were acquired by the reporting person at prices ranging from $24.73 to $46.71 per phantom stock unit. Reporting Person elected to recieve Phantom Performance Stock Units under the LNC Incentive Compensation Plan for the 2003-2005 Long Term Incentive Plan cycle ("LTIP"), payable in 2006. The Phantom Performance Stock Units are valued at the average of the high and low price of LNC common stock reported on the NYSE on March 12, 2003. The actual number of Phantom Performance Stock Units will not be determined until the scheduled payout for the LTIP in 2006. Quarterly Dividends accrued on Phantom Stock. Amount reflects aggregate accrued phantom dividends on phantom performance restricted stock unit awards under 2003-2005 LTIP. The date referred to above is an approximate date by which the reporting person would recieive a pay-out of the 2003-2005 LTIP, if the performance targets set forth in the 2003-2005 LTIP are achieved. By: /S/ Donna E. Ostroff, POA for Jason S. Glazier 2004-02-13