Dennis R. Glass served as the CEO of Lincoln National Corporation from 2006 to 2022, steering the company through various challenges in the financial sector. He has a strong finance background, holding a bachelor's degree from the University of Michigan....

Dennis R. Glass served as the CEO of Lincoln National Corporation from 2006 to 2022, steering the company through various challenges in the financial sector. He has a strong finance background, holding a bachelor's degree from the University of Michigan. Throughout his tenure, he faced performance metrics that sometimes fell short, impacting his compensation heavily tied to these outcomes. One notable aspect of his leadership was his large stock awards; for instance, he realized $17.4 million in vested stock value during 2022 when he retired. Glass participated in significant insider trading, amassing holdings that fluctuated wildly, peaking over $64 million in 2021 before gradually decreasing. He started with Lincoln as President and COO after the merger with Jefferson-Pilot, showcasing his ability to adapt and lead through transition periods. His experience also reflects a broader trend in executive compensation, heavily influenced by company performance and stock market conditions, as seen through his changing fortune over the years.

Quick Links

1. Rivals

2. Holdings

3. Insider Trading

4. Compensation History

5. Other Lincoln National CEOs

L

Dennis R. Glass

Ex-CEO of Lincoln National

Education

Bachelor's degree from the University of Michigan.

Field of Expertise

Finance & Banking - Finance

Sector of Economy

Financial Services

Born

January 1, 1956 - 69 years ago

CEO of Lincoln National for

16 years 0 months (May 2006 - May 2022)

Previous Experience

President and CEO of Lincoln National Corporation since 2006.

Rivals

Competitors/colleagues of Dennis R. Glass

E

Robin M. Raju

CEO of Equitable Holdings

2022 Compensation

Stock

$10.60M

Salary

$1.25M

Bonus

$0.00

Other

$953.42K

Total Holdings

$7.77M

P

Glenn J. Williams

CEO of Primerica

2023 Compensation

Stock

$0.00

Salary

$600.00K

Bonus

$1.25M

Other

$131.65K

Total Holdings

$17.95M

M

Michel A. Khalaf

CEO of MetLife

2023 Compensation

Stock

$15.81M

Salary

$1.48M

Bonus

$4.80M

Other

$279.92K

Total Holdings

$50.00M

Holdings

See how much did Dennis R. Glass make over time.

Dennis R. Glass had significant stock holdings during his time at Lincoln National. His holdings peaked at $64.3 million in May 2021, reflecting strong market performance and investor confidence. However, after reaching this high point, his stock value saw a...

Dennis R. Glass had significant stock holdings during his time at Lincoln National. His holdings peaked at $64.3 million in May 2021, reflecting strong market performance and investor confidence. However, after reaching this high point, his stock value saw a steady decline, dropping to about $16.7 million by September 2024. His trading activities indicated a diverse and fluctuating investment profile, with values ranging from $49.7 million in September 2019 down to around $12 million by late 2023. This volatility illustrates the risks and rewards associated with executive stock holdings, particularly during shifting economic conditions.

Total Stock Sold

$133.28M

LNC

$133.28M

2,153,132 LNC shares

What if they kept their stock?

If Dennis R. Glass didn't sell their stock, today they would have:
Extra LNC2,153,132 shares worth $93.66M.
This is -29.72% and $39.61M less than what they got when they sold the stock.

Charitable Transactions

LNC

111,049 shares

LNC

Recent Charitable Transactions

LNC

3,800 shares

LNC

Dec 31, 2021

Charity

LNC

1,780 shares

LNC

Dec 31, 2018

Charity

LNC

80,000 shares

LNC

Dec 31, 2013

Charity

LNC

25,469 shares

LNC

Dec 31, 2011

Charity

Insider Trading

See recent insider trades of Dennis R. Glass.

LNC

$2.91M

LNC at $58.13/share

May 27, 2022

Sale

LNC

78,518 shares

LNC

Feb 16, 2022

Received

LNC

$11.26M

LNC at $75.08/share

Oct 20, 2021

Sale

LNC

$10.81M

LNC at $72.05/share

Sep 27, 2021

Sale

LNC

3,800 shares

LNC

Dec 31, 2021

Charity

LNC

53,316 shares

LNC

Feb 18, 2021

Received

LNC

4,741 shares

LNC

Feb 17, 2021

Received

LNC

$13.66K

LNC at $34.15/share

Mar 10, 2020

Purchase

LNC

$1.00M

LNC at $35.87/share

Mar 6, 2020

Purchase

LNC

83,964 shares

LNC

Feb 19, 2020

Received

Compensation History

See how much did Dennis R. Glass make over time.

Dennis R. Glass's compensation as CEO has been tied closely to Lincoln National's performance. In 2022, he earned a total of $17.4 million, primarily from vested stocks, which included a significant realization from restricted stock units upon his retirement. However, the lack of performance bonuses in several years highlights periods where the company did not meet its set goals. His salary increased to $1 million and compensation philosophy emphasized aligning with performance metrics. Over the years, his compensation has varied significantly, showing the influence of corporate results and stock performance on executive pay.

Year

2022

Total Compensation

$18.14M

Salary

$693.00K

Board Justification

The compensation philosophy emphasizes alignment with company performance and shareholder interests, with a focus on long-term value creation through equity incentives.

Bonus

$0.00

Board Justification

The annual incentive compensation for 2022 was below target due to company performance metrics not being met.

Other

$0.00

Board Justification

No additional compensation was reported outside of salary, bonus, and vested stock.

Restricted Stock

$17.44M(268.84K RSU)

Board Justification

All outstanding RSU awards vested in full upon retirement in May 2022, with the value realized based on the stock price at that time.

Performance Metrics

The performance metrics for 2022 included income from operations per share and business unit sales, which were not met.

Other Lincoln National CEOs

Here are other CEOs of Lincoln National

Ellen G. Cooper

CEO of Lincoln National

May 2022 - Present