LINCOLN NATIONAL CORPORATION Underwriting Agreement 500,000 Depositary Shares, Each Representing a 1/25th Interest in a Share of 9.250% Fixed Rate Reset Non- Cumulative Preferred Stock, Series CUnderwriting Agreement • November 17th, 2022 • Lincoln National Corp • Life insurance • New York
The Preferred Shares will, when issued, be deposited by the Company against delivery of depositary receipts (the “Depositary Receipts”) to be issued by the Depositary (as defined below) pursuant to a deposit agreement (the “Deposit Agreement”), to be dated as of November 22, 2022, between the Company and Equiniti Trust Company, acting as depositary (the “Depositary”), and holders from time to time of the Depositary Receipts issued thereunder to evidence the Securities. Each Security will represent a 1/25th interest in one Preferred Share pursuant to the Deposit Agreement. The terms of the Preferred Shares will be set forth in the Articles of Amendment (the “Designation”), the proposed form of which has been provided to the Underwriters, to be filed by the Company with the Secretary of State of the State of Indiana.
