M&A - LINCOLN NATIONAL VARIABLE ANNUITY ACCOUNT C

Form Type: 497VPU

Filing Date: 2025-06-20

Corporate Action: Merger

Type: Update

Accession Number: 000072686525000469

Filing Summary: This document is a supplement dated June 20, 2025, to the Updating Summary Prospectus for Current Contractowners. It outlines a change in the investment options under individual annuity contracts due to an approved Agreement and Plan of Reorganization that will merge the LVIP Invesco Select Equity Income Managed Volatility Fund into the LVIP BlackRock Dividend Managed Volatility Fund. The merger is not expected to be a taxable event for Contractowners. The Reorganization is subject to shareholder approval, with a meeting scheduled around July 31, 2025, and an expected completion date of August 1, 2025. Contractowners can transfer out of the Fund prior to the Closing Date and are encouraged to review their product prospectus for additional investment options and transfer information. The investment objectives, policies, and risks of the Acquiring Fund are similar to those of the Acquired Fund.