Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Miller Douglas N
   2. Issuer Name and Ticker or Trading Symbol
LINCOLN NATIONAL CORP [LNC] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
VP & CAO
(Last)
(First)
(Middle)
150 N. RADNOR-CHESTER ROAD		 3. Date of Earliest Transaction (Month/Day/Year)
09/02/2014
(Street)

RADNOR, PA 19087		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code
(Instr. 8)		 4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)		 5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)		 6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)		 7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 09/02/2014   M   5,281 A $ 30.64 14,373.94 (1) D  
Common Stock 09/02/2014   M   6,451 A $ 24.99 20,824.94 D  
Common Stock 09/02/2014   M   4,588 A $ 29.54 25,412.94 D  
Common Stock 09/02/2014   S   16,320 D $ 55.6392 (2) 9,092.94 D  
Common Stock               4,668.28 (3) I By 401(k)

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code
(Instr. 8)		 5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)		 6. Date Exercisable and Expiration Date
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(Instr. 3 and 4)		 8. Price of Derivative Security
(Instr. 5)		 9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)		 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy) $ 30.64 09/02/2014   M     5,281 02/23/2012(4) 02/23/2021 Common Stock 5,281 $ 0 0 D  
Employee Stock Option (Right to Buy) $ 24.99 09/02/2014   M     6,451 02/22/2013(5) 02/22/2022 Common Stock 6,451 $ 0 3,227 D  
Employee Stock Option (Right to Buy) $ 29.54 09/02/2014   M     4,588 02/28/2014(6) 02/28/2023 Common Stock 4,588 $ 0 9,177 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Miller Douglas N
150 N. RADNOR-CHESTER ROAD
RADNOR, PA 19087		       VP & CAO  

Signatures

 /s/ Charles A. Brawley, III, Attorney-in-Fact   09/02/2014
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) Includes 42.91 shares acquired through dividend reinvestment since the reporting person's last report.
(2) The price reported in Column 4 is a weighted price. These shares were sold in multiple transactions at prices ranging from $55.60 to $55.71, inclusive. The reporting person undertakes to provide Lincoln National Corporation, any security holder of Lincoln National Corporation, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in footnote 2 to this Form.
(3) Represents routine transactions in the Company's 401(k) Plan from 4/1/2014 to 8/1/2014.
(4) The option vested in three equal installments on February 23, 2012, 2013 and 2014.
(5) The option vests in three equal installments on February 22, 2013, 2014 and 2015.
(6) The option vests in three equal installments on February 28, 2014, 2015 and 2016.

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