0001048606 2026-06-26 2026-06-26 0001048606 ck0001048606:PutnamVTUSResearchFundClassIBMember 2026-06-26 2026-06-26 pure 2026-06-26 N-4 N-4 Lincoln Life Variable Annuity Account N <div> <span style="font-family: Arial; font-size: 10.0pt;">The changes described in this Supplement modify Appendix A – Investment Options Available Under The Contract. </span> </div> <div style="font-size: 10pt;">  </div> <div> <span style="font-family: Arial; font-size: 10.0pt; font-weight: bold;">Addition of a New Investment Option: </span><span style="font-family: Arial; font-size: 10.0pt;">On or about August 17, 2026, the following fund will be added as an investment option under your Contract. The information below summarizes key features of the fund. </span> </div> <div style="font-size: 11pt;">  </div> <table style="font-size : 12pt; border-spacing : 0px; border-collapse : collapse; margin-left : auto; margin-right : auto; "> <tr style="height: 0px; font-size: 0px;"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: top;"> <td rowspan="2" style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Investment Objective</span> </td> <td rowspan="2" style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Fund and Adviser/Sub-adviser</span> </td> <td rowspan="2" style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Current Expenses</span> </td> <td colspan="3" style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Average Annual Total Returns (as of 12/31/2025)</span> </td> </tr> <tr style="vertical-align: top; height: 21.55pt;"> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> 1 Year </td> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> 5 Year </td> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> 10 Year </td> </tr> <tr style="vertical-align: top; height: 21.55pt;"> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle;"> <div> <span style="font-family: Arial; font-size: 10.0pt;">The fund seeks capital appreciation. </span> </div> </td> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">Putnam VT U.S. Research Fund – Class IB</span> </td> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">0.93%</span> </td> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">17.88%</span> </td> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">14.52%</span> </td> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">15.07%</span> </td> </tr> </table> <div style="font-size: 10pt;">  </div> <div> <span style="font-family: Arial; font-size: 10.0pt;">For more complete information about the fund, including its principal investment strategies and principal risks, please refer to the underlying fund prospectus. </span> </div> <div style="font-size: 10pt;">  </div> <div> <span style="font-family: Arial; font-size: 10.0pt; font-weight: bold;">Fund Reorganization: </span><span style="font-family: Arial; font-size: 10.0pt;">The Board of Trustees of each Putnam VT Sustainable Future Fund and Putnam VT U.S. Research Fund has approved the reorganization of the Putnam VT Sustainable Future Fund with and into the Putnam VT U.S. Research Fund. The reorganization is currently expected to close on or about August 17, 2026, with the net asset value of share to be issued in the reorganization expected to be determined on or about August 14, 2026. The reorganization is expected to be a tax-free reorganization for federal income tax purposes. Following the reorganization, all references to Putnam VT Sustainable Future Fund in the Prospectus will be removed and replaced with Putnam VT U.S. Research Fund.</span> </div> <div style="font-size: 10pt;">  </div> <div> <span style="font-family: Arial; font-size: 10.0pt;">Effective on or about June 26, 2026, Putnam VT Sustainable Future Fund will not be available to Contracts issued on or after this date. </span> </div> <div> <span style="font-family: Arial; font-size: 10.0pt;">The changes described in this Supplement modify Appendix A – Investment Options Available Under The Contract. </span> </div><div> <span style="font-family: Arial; font-size: 10.0pt; font-weight: bold;">Addition of a New Investment Option: </span><span style="font-family: Arial; font-size: 10.0pt;">On or about August 17, 2026, the following fund will be added as an investment option under your Contract. The information below summarizes key features of the fund. </span> </div> <table style="font-size : 12pt; border-spacing : 0px; border-collapse : collapse; margin-left : auto; margin-right : auto; "> <tr style="height: 0px; font-size: 0px;"> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> <td> </td> </tr> <tr style="vertical-align: top;"> <td rowspan="2" style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Investment Objective</span> </td> <td rowspan="2" style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Fund and Adviser/Sub-adviser</span> </td> <td rowspan="2" style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Current Expenses</span> </td> <td colspan="3" style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; text-align: center;"> <span style="font-weight: bold;">Average Annual Total Returns (as of 12/31/2025)</span> </td> </tr> <tr style="vertical-align: top; height: 21.55pt;"> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> 1 Year </td> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> 5 Year </td> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> 10 Year </td> </tr> <tr style="vertical-align: top; height: 21.55pt;"> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle;"> <div> <span style="font-family: Arial; font-size: 10.0pt;">The fund seeks capital appreciation. </span> </div> </td> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">Putnam VT U.S. Research Fund – Class IB</span> </td> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">0.93%</span> </td> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">17.88%</span> </td> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">14.52%</span> </td> <td style="padding: 0px 5.4pt 0px 5px; border-width: 1pt; border-style: solid; border-color: black; vertical-align: middle; text-align: center;"> <span style="font-family: Arial; font-size: 10.0pt;">15.07%</span> </td> </tr> </table> The fund seeks capital appreciation. <span style="font-family: Arial; font-size: 10.0pt;">Putnam VT U.S. Research Fund – Class IB</span> 0.0093 0.1788 0.1452 0.1507 0001048606 false