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
OMB APPROVAL
OMB Number: 3235-0287
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
STONECIPHER DAVID A
  2. Issuer Name and Ticker or Trading Symbol
LINCOLN NATIONAL CORP [LNC]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
__X__ Director _____ 10% Owner
_____ Officer (give title below) _____ Other (specify below)
(Last)
(First)
(Middle)
CENTRE SQUARE-WEST TOWER, 1500 MARKET ST., SUITE 3900
3. Date of Earliest Transaction (Month/Day/Year)
04/03/2006
(Street)

PHILADELPHIA, PA 19102
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 04/03/2006   A   217,574.35 A (1) 217,574.35 D  

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. SEC 1474 (9-02)

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) $ 23.59 04/03/2006   A   294,462   04/03/2006 02/09/2007 Common Stock 294,462 (2) 294,462 D  
Employee Stock Option (Right to Buy) $ 29.65 04/03/2006   A   245,385   04/03/2006 09/14/2007 Common Stock 245,385 (3) 245,385 D  
Employee Stock Option (Right to Buy) $ 31.25 04/03/2006   A   245,385   04/03/2006 01/05/2008 Common Stock 245,385 (4) 245,385 D  
Employee Stock Option (Right to Buy) $ 33.01 04/03/2006   A   196,308   04/03/2006 02/08/2008 Common Stock 196,308 (5) 196,308 D  
Employee Stock Option (Right to Buy) $ 42.33 04/03/2006   A   149,957   04/03/2006 02/07/2009 Common Stock 149,957 (6) 149,957 D  
Employee Stock Option (Right to Buy) $ 32.97 04/03/2006   A   327,180   04/03/2006 12/31/2009 Common Stock 327,180 (7) 327,180 D  
Employee Stock Option (Right to Buy) $ 42.68 04/03/2006   A   479,864   04/03/2006 12/31/2009 Common Stock 479,864 (8) 479,864 D  
Employee Stock Option (Right to Buy) $ 43.82 04/03/2006   A   272,650   04/03/2006 02/10/2012 Common Stock 272,650 (9) 272,650 D  
Employee Stock Option (Right to Buy) $ 34.58 04/03/2006   A   272,650   04/03/2006 12/31/2009 Common Stock 272,650 (10) 272,650 D  
Employee Stock Option (Right to Buy) $ 48.59 04/03/2006   A   354,445   04/03/2006 02/08/2014 Common Stock 354,445 (11) 354,445 D  
Employee Stock Option (Right to Buy) $ 45.1 04/03/2006   A   272,650   04/03/2006 11/29/2014(12) Common Stock 272,650 (13) 272,650 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
STONECIPHER DAVID A
CENTRE SQUARE-WEST TOWER
1500 MARKET ST., SUITE 3900
PHILADELPHIA, PA 19102
  X      

Signatures

 /s/ Charles A. Brawley,III, Attorney-in-Fact   04/03/2006
**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) Estimate of LNC common Stock received in the merger of Jefferson-Pilot Corporation into a subsidiary of Lincoln National Corporation (the "Merger") in exchange for Jefferson-Pilot common stock pursuant to a cash/stock election based on a preliminary proration factor.
(2) Received in the Merger in exchange for an employee stock option to acquire 270,000 shares of Jefferson-Pilot Corporation common stock for $25.72 per share.
(3) Received in the Merger in exchange for an employee stock option to acquire 225,000 shares of Jefferson-Pilot Corporation common stock for $32.33 per share.
(4) Received in the Merger in exchange for an employee stock option to acquire 225,000 shares of Jefferson-Pilot Corporation common stock for $34.08 per share.
(5) Received in the Merger in exchange for an employee stock option to acquire 180,000 shares of Jefferson-Pilot Corporation common stock for $36.00 per share.
(6) Received in the Merger in exchange for an employee stock option to acquire 137,500 shares of Jefferson-Pilot Corporation common stock for $46.17 per share.
(7) Received in the Merger in exchange for an employee stock option to acquire 300,000 shares of Jefferson-Pilot Corporation common stock for $35.96 per share.
(8) Received in the Merger in exchange for an employee stock option to acquire 440,000 shares of Jefferson-Pilot Corporation common stock for $46.55 per share.
(9) Received in the Merger in exchange for an employee stock option to acquire 250,000 shares of Jefferson-Pilot Corporation common stock for $47.79 per share.
(10) Received in the Merger in exchange for an employee stock option to acquire 250,000 shares of Jefferson-Pilot Corporation common stock for $37.71 per share.
(11) Received in the Merger in exchange for an employee stock option to acquire 325,000 shares of Jefferson-Pilot Corporation common stock for $52.99 per share.
(12) The option vests in three equal annual installments beginning February 13, 2007.
(13) Received in the Merger in exchange for an employee stock option to acquire 250,000 shares of Jefferson-Pilot Corporation common stock for $49.19 per share.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.