Lincoln National Management

Management criteria checks 2/4

Lincoln National's CEO is Ellen R. Cooper, appointed in May 2022, has a tenure of 2.5 years. total yearly compensation is $13.44M, comprised of 8.5% salary and 91.5% bonuses, including company stock and options. directly owns 0.083% of the company’s shares, worth €4.37M. The average tenure of the management team and the board of directors is 2.7 years and 7 years respectively.

Key information

Ellen R. Cooper

Chief executive officer

US$13.4m

Total compensation

CEO salary percentage	8.5%
CEO tenure	2.5yrs
CEO ownership	0.08%
Management average tenure	2.7yrs
Board average tenure	7yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Ellen R. Cooper's remuneration changed compared to Lincoln National's earnings?
Date	Total Compensation	Salary	Company Earnings
Sep 30 2024	n/a	n/a	US$262m
Jun 30 2024	n/a	n/a	US$2b
Mar 31 2024	n/a	n/a	US$1b
Dec 31 2023	US$13m	US$1m	-US$834m
Sep 30 2023	n/a	n/a	US$1b
Jun 30 2023	n/a	n/a	-US$1b
Mar 31 2023	n/a	n/a	-US$1b
Dec 31 2022	US$9m	US$1m	US$1b
Sep 30 2022	n/a	n/a	US$1b
Jun 30 2022	n/a	n/a	US$3b
Mar 31 2022	n/a	n/a	US$3b
Dec 31 2021	US$6m	US$815k	US$4b
Sep 30 2021	n/a	n/a	US$1b
Jun 30 2021	n/a	n/a	US$1b
Mar 31 2021	n/a	n/a	US$672m
Dec 31 2020	US$4m	US$723k	US$499m
Sep 30 2020	n/a	n/a	US$788m
Jun 30 2020	n/a	n/a	US$228m
Mar 31 2020	n/a	n/a	US$686m
Dec 31 2019	US$4m	US$639k	US$886m
Sep 30 2019	n/a	n/a	US$853m
Jun 30 2019	n/a	n/a	US$2b
Mar 31 2019	n/a	n/a	US$2b
Dec 31 2018	US$4m	US$603k	US$2b
Sep 30 2018	n/a	n/a	US$2b
Jun 30 2018	n/a	n/a	US$2b
Mar 31 2018	n/a	n/a	US$2b
Dec 31 2017	US$4m	US$585k	US$2b

Compensation vs Market: Ellen R.'s total compensation ($USD13.44M) is above average for companies of similar size in the German market ($USD3.31M).

Compensation vs Earnings: Ellen R.'s compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Ellen R. Cooper (60 yo)

2.5yrs

Tenure

US$13,437,920

Compensation

Ms. Ellen R. Gail Cooper, CERA, CFA, FSA, has served as a President, Chief Executive Officer and Director at Lincoln National Corporation since May 27, 2022 and serves as its Chairman since May 25, 2023. S...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Ellen R. Cooper	Chairman	2.5yrs	US$13.44m	0.083% € 4.4m
Christopher Neczypor	Executive VP & CFO	1.8yrs	US$5.01m	0.0032% € 166.9k
Sean Woodroffe	Executive VP and Chief People	1.5yrs	US$9.56m	0.0069% € 362.8k
James Reid	Executive VP & President of Workplace Solutions	2.3yrs	US$4.71m	0.0084% € 443.1k
Jayson Bronchetti	Executive VP	3yrs	no data	0.036% € 1.9m
Adam Cohen	Senior VP & Chief Accounting Officer	2.7yrs	no data	no data
Joseph Weider	Senior VP & CTO	no data	no data	no data
Kenneth Solon	Executive VP	8.8yrs	US$7.73m	0.036% € 1.9m
Lucy Gase	Senior VP and Head of Administrative Services & Strategic Support	6.2yrs	no data	no data
Tina Madon	Senior VP & Head of Investor Relations	1.1yrs	no data	no data
Steve Harris	Chief Ethics & Compliance Officer and Senior VP	7.6yrs	no data	no data
Craig Beazer	Executive VP & General Counsel	3.9yrs	no data	0.0090% € 470.9k

2.7yrs

Average Tenure

57yo

Average Age

Experienced Management: LCO's management team is considered experienced (2.7 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Ellen R. Cooper	Chairman	2.5yrs	US$13.44m	0.083% € 4.4m
Gary Kelly	Independent Director	15yrs	US$327.68k	0.0018% € 92.4k
Marguerite Lachman	Independent Director	39.5yrs	US$336.85k	0.0018% € 92.4k
Eric Johnson	Independent Director	26.5yrs	US$295.00k	0% € 0
Dale LeFebvre	Independent Director	3yrs	US$285.00k	0% € 0
William Cunningham	Lead Independent Director	18.6yrs	US$350.00k	0.0051% € 269.3k
Deirdre Connelly	Independent Director	8.5yrs	US$305.00k	0.0024% € 123.4k
Reginald Davis	Independent Director	4.3yrs	US$285.00k	0% € 0
Lynn Utter	Independent Director	7yrs	US$290.00k	0% € 0
Janet Liang	Independent Director	3yrs	US$289.88k	0% € 0
Owen Ryan	Independent Director	1.2yrs	US$85.14k	0.0059% € 308.2k

7.0yrs

Average Tenure

62yo

Average Age

Experienced Board: LCO's board of directors are considered experienced (7 years average tenure).

Lincoln National Management

Management criteria checks 2/4

Key information

Recent management updates

Lincoln Financial Announces Executive Changes

Lincoln Financial Reports Passing of Board Member Michael F. Mee

Executive VP and Chief People recently sold €1.7m worth of stock

Lincoln Financial Group Appoints Brian Kroll as Executive Vice President, Head of Retail Life and Annuity Solutions

Lincoln National Corporation Ceases Matthew Grove as Executive Officer

Lincoln National Corporation, Annual General Meeting, May 23, 2024

Recent updates

New major risk - Dividend sustainability

Third quarter 2024 earnings released: US$3.10 loss per share (vs US$4.83 profit in 3Q 2023)

Lincoln Financial Announces Executive Changes

Lincoln National Corporation to Report Q2, 2025 Results on Jul 31, 2025

Upcoming dividend of US$0.45 per share

Lincoln Financial Reports Passing of Board Member Michael F. Mee

Second quarter dividend of US$0.45 announced

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable on November 1, 2024

Lincoln Financial Group Expands Suite of In-Plan Guaranteed Lifetime Income Products to Offer More Flexibility, Choice and Customization in Retirement

Second quarter 2024 earnings released: EPS: US$5.18 (vs US$2.96 in 2Q 2023)

Upcoming dividend of US$0.45 per share

Executive VP and Chief People recently sold €1.7m worth of stock

First quarter dividend of US$0.45 announced

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable on August 1, 2024

Lincoln Financial Group Announces New Version of its Lincoln Level Advantage®? Index-Linked Annuity with the Launch of Lincoln Level Advantage 2SM

Lincoln Financial Group Appoints Brian Kroll as Executive Vice President, Head of Retail Life and Annuity Solutions

Lincoln National Corporation Ceases Matthew Grove as Executive Officer

Osaic Inc. completed the acquisition of Lincoln Financial Advisors Corporation and Lincoln Financial Securities Corporation from Lincoln National Corporation (NYSE:LNC).

First quarter 2024 earnings released: EPS: US$6.93 (vs US$5.37 loss in 1Q 2023)

Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Lincoln National Corporation

Lincoln National Corporation, Annual General Meeting, May 23, 2024

Lincoln National Corporation to Report Q4, 2024 Results on Feb 06, 2025

Lincoln Financial Group Introduces Side-By-Side Pooled Employer Retirement Solutions for Businesses and Not-For-Profit Organizations

Upcoming dividend of US$0.45 per share

Full year 2023 earnings released: US$4.92 loss per share (vs US$7.94 profit in FY 2022)

Fourth quarter dividend of US$0.45 announced

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable from May 1, 2024

Full year 2023 earnings released: US$4.92 loss per share (vs US$13.10 loss in FY 2022)

Now 22% undervalued

Lincoln National Corporation to Report Q2, 2024 Results on Aug 01, 2024

Upcoming dividend of US$0.45 per share at 6.7% yield

Lincoln Financial Group Declares Quarterly Dividend, Payable on February 1, 2024

New major risk - Financial position

Third quarter 2023 earnings released: EPS: US$4.83 (vs US$10.47 loss in 3Q 2022)

Lincoln Financial Group Receives Regulatory Approval for Reinsurance Transaction with Fortitude Re Ltd

Lincoln Financial Group Introduces Comprehensive Health Savings Solutions for Plan Sponsors

Lincoln Financial Group Names Tina Madon as Senior Vice President, Head of Investor Relations

Lincoln National Corporation to Report Q3, 2023 Results on Nov 01, 2023

Upcoming dividend of US$0.45 per share at 7.5% yield

Lincoln Financial Group Names Jared Nepa as Head of Life and Moneyguard Distribution

Lincoln National Corporation Elects Owen Ryan to Serve on the Board of Directors

Lincoln Financial Group Enhances Customer Experience for Its Employer Clients with New Onboarding Collaboration Tool

Lincoln National Corporation's Declares Quarterly Cash Dividend, Payable on November 1, 2023

Second quarter 2023 earnings released: EPS: US$2.95 (vs US$1.39 in 2Q 2022)

Lincoln National Corporation to Report Q2, 2023 Results on Aug 02, 2023

Upcoming dividend of US$0.45 per share at 7.1% yield

Lincoln Financial Group Announces Executive Changes

Lincoln National Corporation Approves the Appointment of Deirdre P. Connelly as Director

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable August 1, 2023

Lincoln Financial Group Names Andrew D. Rallis as Executive Vice President and Chief Risk Officer, Effective May 15, 2023

First quarter 2023 earnings released: US$5.37 loss per share (vs US$0.60 profit in 1Q 2022)

Lincoln National Corporation Provides Preliminary Earnings Guidance for the First Quarter of 2023

Upcoming dividend of US$0.45 per share at 8.3% yield

Now 20% undervalued after recent price drop

Lincoln National Corporation Declares Quarterly Cash Dividend, Payable on May 1, 2023

Lincoln Financial Group Appoints Christen White as New Head of Group Benefit Claims

Full year 2022 earnings released: US$13.10 loss per share (vs US$7.50 profit in FY 2021)

Lincoln National Corporation Appoints Christopher Neczypor as Chief Financial Officer

Lincoln Financial Group Names Vince Garzarella Senior Vice President, Retirement Plan Services Operations

Now 21% undervalued after recent price drop

Upcoming dividend of US$0.45 per share

Now 20% undervalued after recent price drop

Lincoln National Corporation to Report Q4, 2022 Results on Feb 08, 2023

Independent Director recently bought €108k worth of stock

Third quarter 2022 earnings released: US$15.17 loss per share (vs US$1.70 profit in 3Q 2021)

Lincoln National Corporation Reports Impairment Charges for the Third Quarter Ended September 30, 2022

Lincoln Financial Group Names Jim O’Boyle Senior Vice President, Life & Annuity Operations, Effective November 1

Lincoln National Corporation to Report Q3, 2022 Results on Nov 02, 2022

Upcoming dividend of US$0.45 per share