Owen Ryan
LINCOLN NATIONALAbout Owen Ryan
Owen Ryan (age 62) is an independent director of Lincoln National Corporation, serving since September 2023. He brings deep audit, accounting and risk expertise as former CEO of Deloitte Advisory, prior insurance CEO experience (AEGIS Insurance), and current operating leadership as Co‑CEO and Chair of BlackLine, Inc. He serves on LNC’s Audit and Compensation Committees and has been designated an “audit committee financial expert.”
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Deloitte Advisory | Managing Partner and CEO | 2008–2016 | Led financial advisory; core audit/accounting and risk credentials |
| AEGIS Insurance (mutual) | President & CEO | Oct 2016–Nov 2017 | Insurance operating leadership |
| Geller & Company / Geller Advisors | CEO; Managing Principal; Chief Strategy Officer | Jul 2018–Apr 2022 | Outsourced CFO/technology and strategic advisory leadership |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| BlackLine, Inc. (NASDAQ: BL) | Chair of the Board | Since Jan 2023 | Current board leadership |
| BlackLine, Inc. | Co‑Chief Executive Officer | Since Mar 2023 | Current operating role |
| BlackLine, Inc. | Director | 2018–present | Public company directorship |
Board Governance
| Attribute | Detail |
|---|---|
| Independence status | Independent director |
| LNC director since | 2023 (joined September 2023) |
| Committees | Audit (member); Compensation (member) |
| Audit committee financial expert | Yes (one of four designated) |
| Board/committee meeting cadence (2024) | Board: 6 meetings; Audit: 8; Compensation: 4 |
| Attendance | Each incumbent director attended ≥75% of Board and applicable committee meetings in 2024 |
| Shareholder engagement | Company engaged holders representing ~38% of shares in Fall 2024; a Board member would join if requested |
Fixed Compensation (Director)
| Component | Amount (USD) | Notes |
|---|---|---|
| Annual retainer (cash) | 110,000 | Standard cash retainer for non‑employee directors |
| Audit Committee member fee | 10,000 | Member fee; chair fee is $35,000 (not applicable) |
| Compensation Committee member fee | 0 | Member fee not specified; only chair has $25,000 |
| All other compensation | 0 | No other amounts reported for Ryan in 2024 |
| Total fees earned/paid in cash (2024) | 120,000 | As reported for Ryan |
Performance Compensation (Director)
| Equity element | Grant value (USD) | Instrument | Vesting/Payment |
|---|---|---|---|
| Deferred LNC Stock Units (2024) | 180,000 | DSUs (non‑voting, phantom) | Paid upon retirement/resignation from Board; dividends reinvested as additional units |
Note: Non‑employee director equity is time‑based and delivered as deferred stock units; no performance metrics apply. DSUs and common shares count toward director stock ownership guidelines.
Other Directorships & Interlocks
| Company | Role | Interlock/Related‑party |
|---|---|---|
| BlackLine, Inc. | Chair; Co‑CEO; Director | No LNC “Compensation Committee Interlocks” disclosed for any member (including Ryan). No related‑party transactions involving Ryan disclosed in the proxy. |
Expertise & Qualifications
- Financial/accounting oversight; former CEO of Deloitte Advisory; designated LNC audit committee financial expert .
- Insurance operating leadership (former AEGIS Insurance CEO) .
- Technology and finance operations (current Co‑CEO and Chair at BlackLine; prior Geller roles) .
- Skills flagged by LNC: insurance, finance & capital management, accounting, risk management .
Equity Ownership
| Measure (as of Mar 14, 2025) | Amount |
|---|---|
| LNC common shares beneficially owned | 10,000 |
| LNC stock units (director DSUs) | 13,177 |
| Total LNC common + units | 23,177 |
| Ownership as % of class | <1% |
| Director ownership guideline | 5× cash retainer = $550,000; met by all outside directors as of Dec 31, 2024 |
| Hedging/pledging | Prohibited for directors and executives |
Governance Assessment
- Committee roles and financial acumen: Ryan strengthens board oversight as Audit and Compensation member and an SEC “audit committee financial expert,” aligning with investor expectations for rigorous financial reporting oversight in life & annuity insurers .
- Alignment through equity: 60% of his 2024 director pay was equity ($180k of $300k), consistent with LNC’s aim to align director interests with shareholders; director equity is deferred until board exit, further encouraging long‑term focus .
- Independence and conflicts: Board deems him independent; proxy discloses no Compensation Committee interlocks and lists no related‑party transactions involving him (related‑party items are limited to BlackRock/Vanguard arrangements and an employee family member of the CEO) .
- Attendance/engagement: Board met 6 times in 2024; Audit 8; Compensation 4. Each incumbent director attended ≥75% of responsibilities, indicating baseline engagement, and the board maintains an annual shareholder outreach program in which a director can participate if requested .
- Market signal on board leadership: A shareholder proposal advocating an independent board chair received 46% support in 2023; the board continues with a combined Chair/CEO plus a robust Lead Independent Director role and fully independent key committees. Investors focused on board independence may continue to monitor this area, though the company cites strong governance practices and shareholder feedback supporting flexibility in leadership structure .
Bottom line: Ryan adds credible audit/accounting and insurance expertise to key oversight committees with independent status and strong equity alignment; no related‑party conflicts are disclosed. Governance debate around board chair independence persists at the board level (not specific to Ryan) and remains a watch item for investors focused on board leadership structure .