# EDGAR Filing Document

**Accession Number:** 0000914036
**File Stem:** 0001193125-23-043020
**Filing Date:** 2023-2
**Character Count:** 5244
**Document Hash:** ad44716608e3ac73acccad9c990910ad
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-043020.hdr.sgml**: 20230221

**ACCESSION NUMBER**: 0001193125-23-043020

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20230221

**DATE AS OF CHANGE**: 20230221

**EFFECTIVENESS DATE**: 20230221

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST
- **CENTRAL INDEX KEY:** 0000914036
- **IRS NUMBER:** 521835648
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 033-70742
- **FILM NUMBER:** 23645432

**BUSINESS ADDRESS:**
- **STREET 1:** 1301 SOUTH HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802
- **BUSINESS PHONE:** 260-455-2000

**MAIL ADDRESS:**
- **STREET 1:** 1301 SOUTH HARRISON STREET
- **CITY:** FORT WAYNE
- **STATE:** IN
- **ZIP:** 46802

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** AGGRESSIVE GROWTH FUND /
- **DATE OF NAME CHANGE:** 20031001

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LINCOLN VARIABLE INSURANCE PRODUCTS TRUST
- **DATE OF NAME CHANGE:** 20030910

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LINCOLN NATIONAL AGGRESSIVE GROWTH FUND INC
- **DATE OF NAME CHANGE:** 19931025

## Series and Classes Contracts Data

### Lincoln S&P 500 Ultra Buffer Fund Feb (Series ID: S000072679)

| Class ID   | Class Name     | Ticker Symbol   |
|:---|:---|:---|
| C000229113 | Service Class  |  |
| C000229114 | Standard Class |  |

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| |
|:---|
| **Lincoln Variable Insurance Products Trust** |
| **Lincoln S&P 500 Buffer Fund Feb**<br> **Lincoln S&P 500 Ultra Buffer Fund Feb**<br> **(each a "Fund", collectively the "Funds")**<br>|
| **Supplement Dated February 21, 2023**<br> **to each Fund's Prospectus and Summary Prospectus Dated May 1, 2022**<br>|

---

This Supplement provides information about the Funds. You may obtain a copy of each Fund's Prospectus or Summary Prospectus free of charge, upon request, by calling toll-free 1-800-4LINCOLN (454-6265) or at **www.lfg.com/lvip**.

*Capitalized terms and certain other terms used in this supplement, unless otherwise defined in this supplement, have the meanings assigned to them in the Prospectus or Summary Prospectus ("Prospectus").*

As described in each Fund's Prospectus, an investment in shares of a Fund is subject to an upside return Cap that represents the maximum percentage return an investor can achieve from an investment in each Fund for an Outcome Period. Each Fund's next Outcome Period is the one-year period February 17, 2023 to February 16, 2024. The Outcomes for the Funds will be based upon the S&P 500 Price Return Index ("Index"). As of February 17, 2023, each Fund's Cap is set forth below:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| **Fund Name** | **Final Cap Information** |
| Lincoln S&P 500 Buffer Fund Feb | 17.83% before Fund expenses<br> (17.13% after Fund expenses for Standard Class)<br> (16.78% after Fund expenses for Service Class)<br>|
| Lincoln S&P 500 Ultra Buffer Fund Feb | 13.00% before Fund expenses<br> (12.30% after Fund expenses for Standard Class)<br> (11.95% after Fund expenses for Service Class)<br>|

---

The following table illustrates the Outcomes the Funds seek to provide if the Index performs in certain ways. There is no guarantee that a Fund will be successful in its attempt to provide the Outcomes. The table is illustrative only and does not show every possible performance scenario. It is not intended to, nor could it, predict or project the actual performance of the Fund or the Index. The actual performance of a Fund will vary with fluctuations in the value of the FLEX Options during the Outcome Period, among other factors. Please refer to the following website, **http://lincolnfinancial.com/definedoutcomefunds**, which provides updated fund performance information on a daily basis.

---

| | | | | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| **S&P 500 Price Return** <br> **Index Performance**<br> *(before Fund expenses)*<br>| (100)% | (50)% | (20)% | (10)% | (5)% | 0% | 5% | 10% | 15% | 20% | 50% | 100% |
| **Lincoln S&P 500 Buffer** <br> **Fund Feb Performance**<br> *(before Fund expenses)*<br>| (88)% | (38)% | (8)% | (0)% | 0% | 0% | 5% | 10% | 15% | 17.83%\* | 17.83%\* | 17.83%\* |
| **Lincoln S&P 500 Ultra** <br> **Buffer Fund Feb** <br> **Performance**<br> *(before Fund expenses)*<br>| (78)% | (28)% | (0)% | (0)% | 0% | 0% | 5% | 10% | 13%\* | 13%\* | 13%\* | 13%\* |

---

\*

The Cap is set on the first day of the Outcome Period. The Cap is 17.83% for the Lincoln S&P 500 Buffer Fund Feb and 13.00% for the Lincoln S&P 500 Ultra Buffer Fund Feb before taking into account Fund expenses charged to shareholders. When the Funds' expenses are taken into account, the Cap is 17.13% for Standard Class and 16.78% for Service Class for the Lincoln S&P 500 Buffer Fund Feb and is 12.30% for Standard Class and 11.95% for Service Class for the Lincoln S&P 500 Ultra Buffer Fund Feb.

**Please keep this Supplement with your Prospectus and other important records.**

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