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UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON , D. C. 20549 FORM 10 - K ( Mark One ) Annual Report Pursuant to Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 For the fiscal year ended December 31 , 2020 OR Title of each class Common Stock Transition Report Pursuant to Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 For the transition period from to Indiana ( State or other jurisdiction of incorporation or organization ) Commission File Number 1-6028 LINCOLN NATIONAL CORPORATION ( Exact name of registrant as specified in its charter ) 150 N. Radnor - Chester Road , Suite A305 , Radnor , Pennsylvania ( Address of principal executive offices ) Large Accelerated Filer Non - accelerated Filer 35-1140070 ( I.R.S. Employer Identification No. ) Registrant's telephone number , including area code : ( 484 ) 583-1400 Securities registered pursuant to Section 12 ( b ) of the Act : Trading Symbol LNC 19087 ( Zip Code ) Name of each exchange on which registered New York Stock Exchange Securities registered pursuant to Section 12 ( g ) of the Act : None Indicate by check mark if the registrant is a well - known seasoned issuer , as defined in Rule 405 of the Securities Act . Yes No Indicate by check mark if the registrant is not required to file reports pursuant to Section 13 or Section 15 ( d ) of the Act . Yes No Indicate by check mark whether the registrant ( 1 ) has filed all reports required to be filed by Section 13 or 15 ( d ) of the Securities Exchange Act of 1934 during the preceding 12 months ( or for such shorter period that the registrant was required to file such reports ) , and ( 2 ) has been subject to such filing requirements for the past 90 days . Yes No Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S - T ( § 232.405 of this chapter ) during the preceding 12 months ( or for such shorter period that the registrant was required to submit such files ) . Yes No Indicate by check mark whether the registrant is a large accelerated filer , an accelerated filer , a non - accelerated filer , a smaller reporting company , or an emerging growth company . See the definitions of " large accelerated filer , " " accelerated filer , " " smaller reporting company " and " emerging growth company " in Rule 12b - 2 of the Exchange Act . Accelerated Filer Smaller Reporting Company Emerging Growth Company ooo If an emerging growth company , indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13 ( a ) of the Exchange Act . Indicate by check mark whether the registrant has filed a report on and attestation to its management's assessment of the effectiveness of its internal control over financial reporting under Section 404 ( b ) of the Sarbanes - Oxley Act ( 15 U.S.C. 7262 ( b ) ) by the registered public accounting firm that prepared or issued its audit report . Indicate by check mark whether the registrant is a shell company ( as defined in Rule 12b - 2 of the Act ) . Yes No The aggregate market value of the shares of the registrant's common stock held by non - affiliates ( based upon the closing price of these shares on the New York Stock Exchange ) as of the last business day of the registrant's most recently completed second fiscal quarter was $ 6.2 billion . Shares of common stock held by each executive officer and director and each entity that owns 10 % or more of the outstanding common stock have been excluded in that such persons may be deemed to be affiliates . The determination of affiliate status is not necessarily a conclusive determination for other purposes . As of February 12 , 2021 , 191,958,281 shares of common stock of the registrant were outstanding . Documents Incorporated by Reference : Selected portions of the Proxy Statement for the Annual Meeting of Shareholders , scheduled for June 3 , 2021 , have been incorporated by reference into Part III of this Form 10 - K .