Every material Form 8-K Lincoln Financial filed with the SEC in 2025, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Lincoln National reported third quarter 2025 net income available to common stockholders of $411 million, or $2.12 per diluted share, compared with a loss of $562 million a year earlier. Adjusted operating income was $397 million, or $2.04 per diluted share, slightly below $2.06 a year earlier, and an annual assumption review reduced net income by $50 million in the quarter.
Net income available to common stockholders was $411 million, or $2.12 per diluted share, versus a loss of $562 million in Q3 2024.
Adjusted operating income available to common stockholders was $397 million, or $2.04 per diluted share, versus $2.06 in Q3 2024.
The annual assumption review cut net income by $50 million in the quarter.
Annuities sales were $4.5 billion, up 32% year over year, and the company recorded $174 billion in ending account balances, a record high.
Lincoln National reported second quarter 2025 results, with adjusted operating income per diluted share up to $2.36 from $1.87 a year earlier while GAAP net income available to common stockholders fell to $688 million from $884 million. The company said it closed its transaction with Bain Capital, which it expects to support acceleration of strategic priorities. The GAAP decline reflects large non-operating items, including a $0.3 billion net after-tax gain, so shareholders will see the two earnings measures moving in opposite directions.
Net income available to common stockholders was $688 million, or $3.80 per diluted share, versus $884 million, or $5.11, in the prior-year quarter.
Adjusted operating income available to common stockholders was $427 million, or $2.36 per diluted share, versus $324 million, or $1.87, a year earlier.
Group Protection operating income was $173 million, up 33%, with an operating margin of 12.5%.
The company closed its transaction with Bain Capital; the filing gives no deal value or terms.
At its May 22, 2025 annual meeting, Lincoln National's shareholders approved Amendment No. 4 to the 2020 Incentive Compensation Plan, adding 1,750,000 shares for a total of 17,800,000 and raising the maximum cash award for non-director participants from $8,000,000 to $12,000,000. The Board also reduced its authorized size from eleven to ten members, and shareholders did not approve a non-binding proposal requiring an independent board chair.
Plan share authorization rose by 1,750,000 shares to 17,800,000, and the cash award cap increased from $8,000,000 to $12,000,000
Bylaws amended effective May 22, 2025 to cut authorized Board seats from eleven to ten
Independent board chair proposal not approved: 44,660,726 for and 71,754,818 against
All ten director nominees elected; Ernst & Young LLP ratified as 2025 auditor with 142,755,514 votes for
Lincoln National reported a first-quarter 2025 net loss available to common stockholders of $756 million, or $4.41 per diluted share, compared with net income of $1,191 million a year earlier. The company said the loss mainly reflected changes in market risk benefits from lower interest rates and equity markets, while adjusted operating income rose to $280 million, or $1.60 per diluted share, from $210 million, or $1.22.
Net loss available to common stockholders was $756 million, or $4.41 per diluted share, versus net income of $1,191 million, or $6.93 per diluted share, in Q1 2024.
Adjusted operating income available to common stockholders was $280 million, or $1.60 per diluted share, up from $210 million, or $1.22.
Group Protection operating income rose 26% to $101 million, with an operating margin of 7.4%.
A minority investment from Bain Capital is expected to close in the second half of 2025.
Lincoln National Corporation elected James (Jim) Morris, former Chairman, President and CEO of Pacific Life Insurance Company, as a director effective March 3, 2025, and amended its bylaws to raise the authorized board size from ten to eleven. The filing describes a board governance change with no reported financial figures, and Morris's director pay follows the company's standard non-employee director practices.
James Morris elected director effective March 3, 2025, with a term ending at the 2025 Annual Meeting of Shareholders
Morris appointed to the Compensation Committee and the Finance Committee; the Board determined he is independent
Bylaws amended effective March 3, 2025 to increase authorized Board members from ten to eleven
Annual director retainer of $290,000, of which $180,000 is paid in deferred stock units tied to common stock
Lincoln National reported fourth-quarter 2024 net income available to common stockholders of $1.7 billion, or $9.63 per diluted share, compared with a loss of $1.2 billion a year earlier. Adjusted operating income available to common stockholders rose to $332 million, or $1.91 per diluted share, from $252 million, and the company said the large net income figure was driven mainly by non-economic items such as a $1.2 billion pre-tax change in market risk benefits. For shareholders, the headline earnings measures improved, but the reported net income is heavily affected by items the company excludes from its adjusted figures.
Q4 2024 net income available to common stockholders was $1.7 billion, or $9.63 per diluted share, versus a loss of $1.2 billion, or $7.35 per share, in Q4 2023
Q4 2024 adjusted operating income available to common stockholders was $332 million, or $1.91 per diluted share, versus $252 million, or $1.47 per share, a year earlier
Full-year 2024 adjusted operating income available to common stockholders was $1.2 billion, or $7.07 per diluted share, versus $5.32 in 2023
Group Protection reported Q4 operating income of $107 million with an 8.4% margin, while Life Insurance posted an operating loss of $15 million
Lincoln National director Janet Liang resigned from the board effective immediately, citing a new employment opportunity and not any disagreement with the company. The board also amended the bylaws, effective January 31, 2025, to reduce the authorized number of board members from eleven to ten.
Janet Liang submitted her resignation as director on January 30, 2025, effective immediately
Liang resigned to pursue a new employment opportunity; the filing cites no disagreement with the company
Bylaw amendment effective January 31, 2025 cuts authorized board seats from eleven to ten
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
Only material 8-Ks get a brief: results, deals, executive changes, restructuring, impairments, delisting notices, restatements, cybersecurity incidents and other disclosed events. Routine filings (vote results, exhibits only) are skipped. Every Lincoln Financial filing is on SEC EDGAR ↗. 8-K briefs of other companies →