# EDGAR Filing Document

**Accession Number:** 0001925283
**File Stem:** 0001628280-26-046080
**Filing Date:** 2026-6
**Character Count:** 64656
**Document Hash:** 575386b3ca2de4c338151a1a74dc26ee
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-26-046080.hdr.sgml**: 20260629

**ACCESSION NUMBER**: 0001628280-26-046080

**CONFORMED SUBMISSION TYPE**: S-8

**PUBLIC DOCUMENT COUNT**: 19

**FILED AS OF DATE**: 20260629

**DATE AS OF CHANGE**: 20260629

**EFFECTIVENESS DATE**: 20260629

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Lincoln International, Inc.
- **CENTRAL INDEX KEY:** 0001925283
- **STANDARD INDUSTRIAL CLASSIFICATION:** INVESTMENT ADVICE [6282]
- **ORGANIZATION NAME:** 02 Finance
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** S-8
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-297135
- **FILM NUMBER:** 261137071

**BUSINESS ADDRESS:**
- **STREET 1:** 110 NORTH WACKER DRIVE
- **STREET 2:** 51ST FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606
- **BUSINESS PHONE:** 3125808339

**MAIL ADDRESS:**
- **STREET 1:** 110 NORTH WACKER DRIVE
- **STREET 2:** 51ST FLOOR
- **CITY:** CHICAGO
- **STATE:** IL
- **ZIP:** 60606

**As filed with the Securities and Exchange Commission on June 29, 2026**

**Registration No. 333-**

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

**FORM S-8**

**REGISTRATION STATEMENT**

***UNDER***

***THE SECURITIES ACT OF 1933***

**Lincoln International, Inc.**

**(Exact name of registrant as specified in its charter)**

---

| | |
|:---|:---|
| **Delaware** | **33-4224068** |
| **(State or Other Jurisdiction of**<br>**Incorporation or Organization)** | **(I.R.S. Employer**<br>**Identification No.)** |

---

**110 North Wacker Drive, 51st Floor**

**Chicago, Illinois 60606**

**(312) 580-8339**

**(Address of Principal Executive Offices)**

**Lincoln International, LP Equity Plan**

**Lincoln International Partners Holdings, LLC Option Agreement**

**Lincoln International Partners Holdings II, LLC Option Agreement**

**(Full Title of the Plans)**

**Kristin M. Marvin, Esq.**

**General Counsel**

**Lincoln International, Inc.**

**110 North Wacker Drive, 51st Floor**

**Chicago, Illinois 60606**

**(312) 796-8550** 

**(Name, Address and Telephone Number, Including Area Code, of Agent for Service)**

***Copies to:***

**Steven B. Stokdyk**

**Scott W. Westhoff**

**Latham & Watkins LLP**

**330 North Wabash Avenue, Suite 2800**

**Chicago, Illinois 60611**

**(312) 876-7700** 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of "large accelerated filer,"

"accelerated filer," "smaller reporting company" and "emerging growth company" in Rule 12b-2 of the Exchange Act.

---

| | | | |
|:---|:---|:---|:---|
| Large accelerated filer | ☐ | Accelerated filer | ☐ |
| Non-accelerated filer | ⌧ | Smaller reporting company | ☐ |
| | | Emerging growth company | ⌧ |

---

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act. ⌧

**Proposed sales to take place as soon after the effective date of the registration statement as awards granted under the above-named plans are granted, exercised and/or distributed.**

------

**PART I**

**INFORMATION REQUIRED IN THE SECTION 10(a) PROSPECTUS** 

The documents containing the information specified in Part I of Form S-8 will be sent or given to participants as specified by Rule 428(b)(1) of the Securities Act of 1933, as amended (the "Securities Act"). These documents and the documents incorporated by reference into this registration statement pursuant to Item 3 of Part II of this registration statement, taken together, constitute a prospectus that meets the requirements of Section 10(a) of the Securities Act.

**PART II**

**INFORMATION REQUIRED IN THE REGISTRATION STATEMENT** 

*In this registration statement, Lincoln International, Inc. is sometimes referred to as "Registrant," "we," "us" or "our."*

**Item 3. Incorporation of Documents by Reference.**

The Securities and Exchange Commission ("SEC") allows the Registrant to "incorporate by reference" the information it files with them, which means that the Registrant can disclose important information to you by referring you to those documents. The information incorporated by reference is considered to be part of this registration statement, and later information filed with the SEC will update and supersede this information. The Registrant hereby incorporates by reference into this registration statement the following documents previously filed with the SEC:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a)The prospectus filed by the Registrant with the SEC pursuant to Rule 424(b) under the Securities Act, dated May 19, 2026 relating to the registration statement on Form S-1, as amended (Registration No. 333-295322); and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b)The description of the Registrant's Class A common stock set forth in the Registrant's registration statement on Form 8-A12B (File No. 001-43306), filed by the Registrant with the SEC under Section 12(b) of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), on May 20, 2026 including any amendments or reports filed for the purpose of updating such description.

In addition, all documents filed by the Registrant pursuant to Section 13(a), 13(c), 14 or 15(d) of the Exchange Act subsequent to the filing of this registration statement and prior to the filing of a post-effective amendment which indicates that all securities offered hereby have been sold or which de-registers all securities then remaining unsold shall be deemed to be incorporated by reference into this registration statement and to be a part hereof from the date of filing such documents, except as to specific sections of such statements as set forth therein. Any statement contained in a document incorporated or deemed to be incorporated by reference herein shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained herein or in any other subsequently filed document which also is incorporated or deemed to be incorporated by reference herein modifies or supersedes such statement. Any statement contained herein shall be deemed to be modified or superseded for purposes of this registration statement to the extent that a statement contained in any subsequently filed document which also is incorporated or deemed to be incorporated by reference herein modifies or supersedes such statement. Any such statement so modified or superseded shall not be deemed, except as so modified or superseded, to constitute a part of this registration statement.

Under no circumstances shall any information furnished under Item 2.02 or 7.01 of Form 8-K be deemed incorporated herein by reference unless such Form 8-K expressly provides to the contrary.

**Item 4. Description of Securities.**

See the description of the Registrant's common stock set forth in the Registrant's registration statement on Form S-1, as amended (Registration No. 333-295322).

------

**Item 5. Interests of Named Experts and Counsel.**

Not applicable.

**Item 6. Indemnification of Directors and Officers.**

Section 102 of the DGCL permits a corporation to eliminate the personal liability of directors of a corporation to the corporation or its stockholders for monetary damages for a breach of fiduciary duty as a director, except where the director breached his or her duty of loyalty, failed to act in good faith, engaged in intentional misconduct or knowingly violated a law, authorized the payment of a dividend or approved a stock repurchase or redemption in violation of Delaware corporate law or obtained an improper personal benefit. Our amended and restated certificate of incorporation provides that no director of Lincoln International, Inc. shall be personally liable to it or its stockholders for monetary damages for any breach of fiduciary duty as a director, notwithstanding any provision of law imposing such liability, except to the extent that the General Corporation Law of the State of Delaware prohibits the elimination or limitation of liability of directors for breaches of fiduciary duty.

Section 145 of the DGCL provides that a corporation has the power to indemnify a director, officer, employee, or agent of the corporation, or a person serving at the request of the corporation for another corporation, partnership, joint venture, trust or other enterprise in related capacities against expenses (including attorneys' fees), judgments, fines and amounts paid in settlement actually and reasonably incurred by the person in connection with an action, suit or proceeding to which he was or is a party or is threatened to be made a party to any threatened, pending or completed action, suit or proceeding by reason of such position, if such person acted in good faith and in a manner he reasonably believed to be in or not opposed to the best interests of the corporation, and, in any criminal action or proceeding, had no reasonable cause to believe his or her conduct was unlawful, except that, in the case of actions brought by or in the right of the corporation, no indemnification shall be made with respect to any claim, issue or matter as to which such person shall have been adjudged to be liable to the corporation unless and only to the extent that the Court of Chancery or other adjudicating court determines that, despite the adjudication of liability but in view of all of the circumstances of the case, such person is fairly and reasonably entitled to indemnity for such expenses which the Court of Chancery or such other court shall deem proper.

Our amended and restated bylaws provide indemnification for our directors and officers to the fullest extent permitted by the DGCL. We indemnify any director or officer who was or is made or is threatened to be made a party or is otherwise involved in any action, suit or proceeding, whether civil, criminal, administrative or investigative (a "Proceeding") by reason of the fact that such person, or a person for whom such person is the legal representative, is or was a director or officer of Lincoln International, Inc. or, while serving as a director or officer of Lincoln International, Inc., is or was serving at our request as a director, officer, employee or agent of another corporation or of a partnership (a "covered person"), joint venture, trust, enterprise or non-profit entity, including service with respect to employee benefit plans (all such persons being referred to as an "Indemnitee"), against all liability and loss suffered and expenses (including attorneys' fees, judgments, fines, ERISA excise taxes or penalties and amounts paid in settlement) reasonably incurred by such person in connection with any such Proceeding. Notwithstanding the preceding sentence, our amended and restated bylaws provide that we indemnify an Indemnitee in connection with a Proceeding initiated by such person only if the Proceeding was authorized in the specific case by the Board.

The Registrant also entered into separate indemnification agreements with each of our directors and executive officers. Each indemnification agreement provides, among other things, for indemnification to the fullest extent permitted by law against any and all expenses, judgments, fines, penalties and amounts paid in settlement of any claim. The indemnification agreements provide for the advancement or payment of all expenses to the Indemnitee and for the reimbursement to us if it is found that such Indemnitee is not entitled to such indemnification under applicable law and our amended and restated certificate of incorporation and amended and restated bylaws.

We maintain a general liability insurance policy that covers certain liabilities of directors and officers of our corporation arising out of claims based on acts or omissions in their capacities as directors or officers.

------

Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers, or persons controlling the Registrant under any of the foregoing provisions, in the opinion of the SEC, such indemnification is against public policy as expressed in the Securities Act and is therefore unenforceable.

**Item 7. Exemption from Registration Claimed.**

Not applicable.

**Item 8. Exhibits.**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| **Exhibit**<br>**Number** | | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** | **Incorporated by Reference** | **Filed**<br>**Herewith** |
| **Exhibit**<br>**Number** |<br>**Exhibit Description** | **Form** | **File No.** | **Exhibit** | **Filing Date** | **Filed**<br>**Herewith** |
| 3.1 | <u>[Amended and Restated Certificate of Incorporation of Lincoln International, Inc.](https://www.sec.gov/Archives/edgar/data/1925283/000162828026037238/exhibit31-sx8.htm)</u> | S-8 | 333-296112 | 3.1 | May 21, 2026 |  |
| 3.2 | <u>[Amended and Restated Bylaws of Lincoln International, Inc.](https://www.sec.gov/Archives/edgar/data/1925283/000162828026037238/exhibit32-sx8.htm)</u> | S-8 | 333-296112 | 3.2 | May 21, 2026 |  |
| 4.1 | <u>[Stock Certificate evidencing the shares of Class A common stock.](https://www.sec.gov/Archives/edgar/data/1925283/000162828026033128/exhibit41-sx1a.htm)</u> | S-1/A | 333-295322 | 4.1 | May 11, 2026 |  |
| 5.1 | <u>[Opinion of Latham & Watkins LLP](lincoln-sx8ex5opinionlilpa.htm)[.](lincoln-sx8ex5opinionlilpa.htm)</u> |  |  |  |  | X |
| 23.1 | <u>[Consent of Deloitte & Touche LLP, as to Lincoln International, Inc.](lincolnincconsents-8.htm)</u> |  |  |  |  | X |
| 23.2 | <u>[Consent of Deloitte & Touche LLP, as to Lincoln International, LP.](lincolninternationallpcons.htm)</u> |  |  |  |  | X |
| 23.3 | <u>[Consent of Deloitte & Touche LLP, as to MarshBerry Holding Company, LLC.](marshberryholdingcompanyll.htm)</u> |  |  |  |  | X |
| 24.1 | <u>[Power of Attorney (see signature page)](#ideaf830036f04445bf226fbda8a8101f_113)[.](#ideaf830036f04445bf226fbda8a8101f_113)</u> |  |  |  |  | X |
| 99.1 | <u>[Lincoln International, LP Equity Plan.](lincoln-lilpequityplan.htm)</u> |  |  |  |  | X |
| 99.2 | <u>[Form of Lincoln International, LP Option Agreement.](formof2026lilpoptionagreem.htm)</u> |  |  |  |  | X |
| 99.3 | <u>[Form of Lincoln International Partners Holdings, LLC Option Agreement](https://www.sec.gov/Archives/edgar/data/1925283/000162828026037238/exhibit994-sx8.htm)</u>. | S-8 | 333-296112 | 99.4 | May 21, 2026 |  |
| 99.4 | <u>[Form of Lincoln International Partners Holdings II, LLC Option Agreement](https://www.sec.gov/Archives/edgar/data/1925283/000162828026037238/exhibit995-sx8.htm)</u>. | S-8 | 333-296112 | 99.5 | May 21, 2026 |  |
| 99.5 | <u>[Form of Award Notice for Members of Lincoln International Partners Holdings, LLC and Lincoln International Partners Holdings II, LLC](https://www.sec.gov/Archives/edgar/data/1925283/000162828026037238/exhibit996-sx8.htm)</u>. | S-8 | 333-296112 | 99.6 | May 21, 2026 |  |
| 107.1 | [Calculation of Filing Fee Table](exfilingfee.htm). |  |  |  |  | X |

---

**Item 9. Undertakings.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) The undersigned Registrant hereby undertakes:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1) To file, during any period in which offers or sales are being made, a post-effective amendment to this registration statement,

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(i) to include any prospectus required by Section 10(a)(3) of the Securities Act;

------

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(ii) to reflect in the prospectus any facts or events arising after the effective date of this registration statement (or the most recent post-effective amendment thereof) which, individually or in the aggregate, represent a fundamental change in the information set forth in this registration statement. Notwithstanding the foregoing, any increase or decrease in volume of securities offered (if the total dollar value of securities offered would not exceed that which was registered) and any deviation from the low or high end of the estimated maximum offering range may be reflected in the form of prospectus filed with the SEC pursuant to Rule 424(b) if, in the aggregate, the changes in volume and price represent no more than 20% change in the maximum aggregate offering price set forth in the "Calculation of Filing Fee Tables" table in the effective registration statement; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(iii) to include any material information with respect to the plan of distribution not previously disclosed in this registration statement or any material change to such information in this registration statement;

*provided, however*, that paragraphs (a)(1)(i) and (a)(1)(ii) do not apply if this registration statement is on Form S-8 and the information required to be included in a post-effective amendment by those paragraphs is contained in reports filed with or furnished to the SEC by the Registrant pursuant to Section 13 or Section 15(d) of the Exchange Act that are incorporated by reference in this registration statement.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(2) That, for the purpose of determining any liability under the Securities Act, each such post-effective amendment shall be deemed to be a new registration statement relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(3) To remove from registration by means of a post-effective amendment any of the securities being registered which remain unsold at the termination of the offering.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) The undersigned Registrant hereby undertakes that, for purposes of determining any liability under the Securities Act, each filing of the Registrant's annual report pursuant to Section 13(a) or Section 15(d) of the Exchange Act (and, where applicable, each filing of an employee benefit plan's annual report pursuant to Section 15(d) of the Exchange Act) that is incorporated by reference in this registration statement shall be deemed to be a new registration statement, relating to the securities offered therein, and the offering of such securities at that time shall be deemed to be the initial bona fide offering thereof.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) Insofar as indemnification for liabilities arising under the Securities Act may be permitted to directors, officers and controlling persons of the Registrant pursuant to the foregoing provisions, or otherwise, the Registrant has been advised that in the opinion of the SEC such indemnification is against public policy as expressed in the Securities Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other than the payment by the Registrant of expenses incurred or paid by a director, officer or controlling person of the Registrant in the successful defense of any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered, the Registrant will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate jurisdiction the question whether such indemnification by it is against public policy as expressed in the Securities Act and will be governed by the final adjudication of such issue.

------

**SIGNATURES**

Pursuant to the requirements of the Securities Act of 1933, the Registrant certifies that it has reasonable grounds to believe that it meets all of the requirements for filing on Form S-8 and has duly caused this registration statement to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Chicago, Illinois, on June 29, 2026.

---

| | |
|:---|:---|
| **Lincoln International, Inc.** | **Lincoln International, Inc.** |
| By: | /s/ Robert T. Brown |
| Name: | Robert T. Brown |
| Title: | *Chief Executive Officer and Director* |

---

**SIGNATURES AND POWER OF ATTORNEY**

We, the undersigned officers and directors of Lincoln International, Inc., hereby severally constitute and appoint Robert T. Brown and Theodore J. Heidloff, and each of them singly (with full power to each of them to act alone), our true and lawful attorneys-in-fact and agents, with full power of substitution and resubstitution in each of them for him and in his name, place and stead, and in any and all capacities, to sign any and all amendments (including post-effective amendments) to this registration statement (or any other registration statement for the same offering that is to be effective upon filing pursuant to Rule 462(b) under the Securities Act of 1933), and to file the same, with all exhibits thereto and other documents in connection therewith, with the Securities and Exchange Commission, granting unto said attorneys-in-fact and agents, and each of them, full power and authority to do and perform each and every act and thing requisite or necessary to be done in and about the premises, as full to all intents and purposes as he might or could do in person, hereby ratifying and confirming all that said attorneys-in-fact and agents or any of them, or their or his substitute or substitutes, may lawfully do or cause to be done by virtue hereof.

Pursuant to the requirements of the Securities Act of 1933, this registration statement has been signed by the following persons in the capacities held on the dates indicated.

---

| | | |
|:---|:---|:---|
| **Signature** | **Title** | **Date** |
| /s/ Robert T. Brown | Director and Chief Executive Officer<br>(Principal Executive Officer) | 6/29/2026 |
| Robert T. Brown | Director and Chief Executive Officer<br>(Principal Executive Officer) | 6/29/2026 |
| /s/ Theodore J. Heidloff | Chief Financial Officer (Principal Financial<br>Officer and Principal Accounting Officer) | 6/29/2026 |
| Theodore J. Heidloff | Chief Financial Officer (Principal Financial<br>Officer and Principal Accounting Officer) | 6/29/2026 |
| /s/ Lawrence James Lawson III | Chairman of the Board of Directors | 6/29/2026 |
| Lawrence James Lawson III | Chairman of the Board of Directors | 6/29/2026 |
| /s/ Robert B. Barr | Director | 6/29/2026 |
| Robert B. Barr | Director | 6/29/2026 |
| /s/ M. Christie Smith | Director | 6/29/2026 |
| M. Christie Smith | Director | 6/29/2026 |
| /s/ John Oleniczak | Director | 6/29/2026 |
| John Oleniczak | Director | 6/29/2026 |
| /s/ Eric D. Malchow | President and Global Head of M&A, Director | 6/29/2026 |
| Eric D. Malchow | President and Global Head of M&A, Director | 6/29/2026 |

---

## Ex-Filing

?xml version='1.0' encoding='ASCII'? EX-FILING FEES

---

| |
|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Calculation of Filing Fee Tables**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **S-8**  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Lincoln International, Inc.**  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Type**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Security Class Title**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Calculation Rule**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount Registered**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Proposed Maximum Offering Price Per Unit**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Maximum Aggregate Offering Price**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Fee Rate**  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Amount of Registration Fee**  |
| 1 | Equity | Class A Common Stock, $0.00001 par value per share | Other | 4812600 | $22.83 | $109871658.00 | 0.0001381 | $15173.28 |
| Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: | Total Offering Amounts: |  | $109871658.00  |  | $15173.28  |
| Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  | Total Fee Offsets:  |  |  |  | $0.00  |
| Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  | Net Fee Due:  |  |  |  | $15173.28  |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; **Offering Note** <br>

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; <sup>1</sup> (a) Pursuant to Rule 416(a) under the Securities Act of 1933, as amended (the "Securities Act"), this registration statement ("Registration Statement") shall also cover any additional shares of Class A common stock, par value $0.00001 per share (the "Class A Common Stock"), that become issuable under the Lincoln International, LP Equity Plan, the Lincoln International Partners Holdings, LLC Option Agreements and the Lincoln International Partners Holdings II, LLC Option Agreements, by reason of any stock dividend, stock split, recapitalization, or other similar transaction effected without receipt of consideration that results in an increase to the number of outstanding shares of Class A Common Stock. (b) Represents (i) 3,246,750 shares of Class A Common Stock reserved for issuance under the Lincoln International, LP Equity Plan and (ii) 1,565,850 shares of Class A Common Stock reserved for issuance under the Lincoln International Partners Holdings, LLC Option Agreements and the Lincoln International Partners Holdings II, LLC Option Agreements. (c) Estimated solely for the purpose of calculating the registration fee pursuant to Rule 457(h) and Rule 457(c) under the Securities Act, based upon the average of the high and low prices of the Registrant's Class A Common Stock as reported on the New York Stock Exchange on June 25, 2026.

---

| |
|:---|
| |
| **Rule 457(p)** |
| Fee Offset Claims |
| Fee Offset Sources |

---

## Exhibit 5.1

**Exhibit 5.1**

---

| | |
|:---|:---|
| 330 North Wabash Avenue<br>Suite 2800<br>Chicago, Illinois 6061<br>Tel: +1.312.876.7700 Fax: 1.312.993.976<br>www.lw.com | 330 North Wabash Avenue<br>Suite 2800<br>Chicago, Illinois 6061<br>Tel: +1.312.876.7700 Fax: 1.312.993.976<br>www.lw.com |
| FIRM / AFFILIATE OFFICES | FIRM / AFFILIATE OFFICES |
| Austin | Milan |
| Beijing | Munich |
| Boston | New York |
| Brussels | Orange County |
| Chicago | Paris |
| Dubai | Riyadh |
| Düsseldorf | San Diego |
| Frankfurt | San Francisco |
| Hamburg | Seoul |
| Hong Kong | Silicon Valley |
| Houston | Singapore |
| London | Tel Aviv |
| Los Angeles | Tokyo |
| Madrid | Washington, D.C. |

---

June 29, 2026

Lincoln International, Inc.

110 N Wacker Drive 51<sup>st</sup> Floor

Chicago, IL 60606

Re: <u>Registration Statement on Form S-8</u>

To the addressee set forth above:

We have acted as special counsel to Lincoln International, Inc., a Delaware corporation (the "***Company***"), in connection with the preparation and filing by the Company on the date hereof with the Securities and Exchange Commission (the "***Commission***") of a registration statement (the "***Registration Statement***") on Form S-8 under the Securities Act of 1933, as amended (the "***Act***"), relating to the issuance of up to 4,812,600 shares (the "***Shares***") of Class A common stock of the Company, $0.00001 par value per share, which may be issued pursuant to the Lincoln International, LP Equity Plan, the Lincoln International Partners Holdings, LLC Option Agreements and the Lincoln International Partners Holdings II, LLC Option Agreements (collectively, the "***Plans***"). This opinion is being furnished in connection with the requirements of Item 601(b)(5) of Regulation S-K under the Act, and no opinion is expressed herein as to any matter pertaining to the contents of the Registration Statement or related Prospectus, other than as expressly stated herein with respect to the issue of the Shares.

As such counsel, we have examined such matters of fact and questions of law as we have considered appropriate for purposes of this letter. With your consent, we have relied upon certificates and other assurances of officers of the Company and others as to factual matters

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**June 29, 2026**<br>**Page 2**<br>

![image_0a.jpg](image_0a.jpg)

without having independently verified such factual matters. We are opining herein as to the General Corporation Law of the State of Delaware, and we express no opinion with respect to any other laws.

Subject to the foregoing and the other matters set forth herein, it is our opinion that, as of the date hereof, when the Shares shall have been duly registered on the books of the transfer agent and registrar therefor in the name or on behalf of the purchasers, and have been issued by the Company for legal consideration of not less than par value in the circumstances contemplated by the Plans, assuming that the individual issuances, grants or awards under the Plans are duly authorized by all necessary corporate action and duly issued, granted or awarded and exercised in accordance with the requirements of law and the Plans (and the agreements duly adopted thereunder and in accordance therewith), the issue and sale of the Shares will have been duly authorized by all necessary corporate action of the Company, and such Shares will be validly issued, fully paid and nonassessable. In rendering the foregoing opinion, we have assumed that the Company will comply with all applicable notice requirements regarding uncertificated shares provided in the General Corporation Law of the State of Delaware.

This opinion is for your benefit in connection with the Registration Statement and may be relied upon by you and by persons entitled to rely upon it pursuant to the applicable provisions of the Act. We consent to your filing this opinion as an exhibit to the Registration Statement. In giving such consent, we do not thereby admit that we are in the category of persons whose consent is required under Section 7 of the Act or the rules and regulations of the Commission thereunder.

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| |
|:---|
| Sincerely, |
| /s/ Latham & Watkins LLP |

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## Exhibit 23.1

**Exhibit 23.1**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated March 23, 2026 relating to the financial statements of Lincoln International, Inc., appearing in Registration Statement No. 333-295322 on Form S-1 of Lincoln International, Inc. We also consent to the reference to us under the heading "Experts" in such Registration Statement.

<br>/s/ Deloitte & Touche LLP

<br>Chicago, Illinois<br>June 29, 2026

## Exhibit 23.2

**Exhibit 23.2**

**CONSENT OF INDEPENDENT REGISTERED PUBLIC ACCOUNTING FIRM**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated March 23, 2026 relating to the financial statements of Lincoln International, LP, appearing in Registration Statement No. 333-295322 on Form S-1 of Lincoln International, Inc. We also consent to the reference to us under the heading "Experts" in such Registration Statement.

<br>/s/ Deloitte & Touche LLP

<br>Chicago, Illinois<br>June 29, 2026

## Exhibit 23.3

**Exhibit 23.3**

**CONSENT OF INDEPENDENT AUDITORS**

We consent to the incorporation by reference in this Registration Statement on Form S-8 of our report dated March 20, 2026 relating to the financial statements of MarshBerry Holding Company, LLC, appearing in Registration Statement No. 333-295322 on Form S-1 of Lincoln International, Inc. We also consent to the reference to us under the heading "Experts" in such Registration Statement.

/s/ Deloitte & Touche LLP

Chicago, Illinois

June 29, 2026

## Exhibit 99.1

**Exhibit 99.1**

**LINCOLN INTERNATIONAL, LP** <br>**EQUITY PLAN**<br>

Reference is made to the option agreements (the "LILP Option Agreements"), a form of which is attached hereto as <u>Exhibit A</u>, pursuant to which certain individuals were granted options to purchase Units (as defined in the LILP Option Agreements) of Lincoln International, LP (the "Partnership").

Reference is also made to that certain Fourth Amended and Restated Limited Partnership Agreement of the Partnership, dated as of May 19, 2026 (the "LPA"), which, among other things, (i) recapitalized all outstanding Units (including, for the avoidance of doubt any Units subject to unexercised options under the LILP Option Agreements), on a 650-for-1 basis, into a single class of common units of the Partnership ("Common Units"); (ii) required at all times the Partnership and Lincoln International, Inc., a partner in the Partnership and its General Partner (the "Corporation"), to maintain a one-to-one ratio between the number of outstanding Common Units and the number of outstanding shares, in the aggregate, of Class A common stock, par value $0.00001 per share ("Class A Common Stock") of the Corporation, Class B common stock, par value $0.00001 per share ("Class B Common Stock") of the Corporation, and Class C common stock, par value $0.00001 per share ("Class C Common Stock" and, together with the Class A Common Stock and the Class C Common stock, the "Common Stock") of the Corporation; and (iii) established the right of the holders of Common Units to redeem and/or exchange such Common Units, along with a corresponding number of shares of Class B Common Stock or Class C Common Stock, for an equal number of shares of Class A Common Stock.

Reference is also made to that certain Amended and Restated Certificate of Incorporation of the Corporation, dated as of May 19, 2026 ("Certificate of Incorporation"), which, among other things, (i) requires the Corporation reserve for issuance a sufficient number of Class A Common Stock to effect the redemption or exchange of all outstanding Common Units (along with a corresponding number of Class B Common Stock or Class C Common Stock) and (ii) permits the Corporation to issue shares of Common Stock in connection with transfers permitted by the LPA.

The purpose of this Lincoln International, LP Equity Plan is to provide holders of options to purchase Common Units under the LILP Option Agreements the ability to redeem or exchange such Common Units, along with a corresponding number of shares of Class B Common Stock or Class C Common Stock, for Class A Common Stock pursuant to the LPA and the Certificate of Incorporation. The holders of options under the LILP Option Agreements were, at the time of grant of such options, employees, service providers, consultants or advisors of the Partnership or its subsidiaries. For the avoidance of doubt, the Plan is intended to be an "employee benefit plan" for purposes of Rule 405 of Regulation C under the Securities Act of 1933, as amended.

The maximum number of Common Units, and, upon redemption and/or exchange pursuant to the LPA and the Certificate of Incorporation, shares of Class A Common Stock, that may be issued pursuant to the LILP Option Agreements shall not exceed, in each case, 3,246,750.

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**<u>EXHIBIT A</u>**

**Form of LILP Option Agreement**

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[Date]

[Name]

Dear [First Name]:

Reference is made to the Third Amended and Restated Limited Partnership Agreement of Lincoln International, LP, effective as of April 27, 2022, as amended by that certain Amendment No. 1 to the Third Amended and Restated Limited Partnership Agreement, effective as of January 1, 2025 (as the same may be further amended from time to time, the "<u>Partnership Agreement</u>"). Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Partnership Agreement. Lincoln International, LP ("<u>LI LP</u>" or the "<u>Company</u>") is the ultimate parent company of the Lincoln International group of companies. LI GP, Inc. (the "<u>General Partner</u>") is the General Partner of LI LP.

<u>Option Grant</u>

Effective as of the date hereof and conditioned upon your delivery of this agreement executed by you on or before [Date], LI LP hereby offers you an option (the "<u>Option</u>") to purchase [number of units in words] ([number of units in numerals]) Units in LI LP at an exercise price per Unit equal to the [Year] Per Unit Formula Price (the "<u>Exercise Price</u>"). The "<u>[Year] Per Unit Formula Price</u>" is equal to (i) the Formula Price as of December 31, [Year] divided by (ii) the number of Units in LI LP outstanding as of December 31, [Year]. The "<u>Formula Price</u>" calculation is set forth in Section 9.8 of the Partnership Agreement. For the avoidance of doubt, if the Company does not receive an executed copy of this agreement on or before [Date], this agreement shall be null and void and no Units in LI LP will be issued to you.

This Option shall vest according to the following schedule (i) [__] of the Units underlying the Option shall vest on [Vesting Date 1] (the "<u>First Vesting Tranche</u>"), (ii) the next [__] of the Units underlying the Option shall vest on [Vesting Date 2] (the "<u>Second Vesting Tranche</u>"), (iii) the next [__] of the Units

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underlying the Option on [Vesting Date 3] (the "<u>Third Vesting Tranche</u>") and (iv) the remaining [__] of the Units underlying the Option on [Vesting Date 4] (the "<u>Final Vesting Tranche</u>" and, together with the First Vesting Tranche, the Second Vesting Tranche and the Third Vesting Tranche, the "<u>Vesting Tranches</u>"), subject to your continued service with LI LP and its affiliates (and you not having tendered your resignation) through the applicable vesting date. The First Vesting Tranche shall become exercisable on [Vesting Date 1], the Second Vesting Tranche shall become exercisable on [Vesting Date 2], the Third Vesting Tranche shall become exercisable on [Vesting Date 3] and the Final Vesting Tranche shall become exercisable on [Vesting Date 4] (each, an "<u>Exercise Date</u>"). If the Option becomes exercisable in accordance with the preceding sentence, you may exercise the portion of the Option that becomes exercisable as of the applicable Exercise Date, in full or in part in any whole number of Units, (<u>x</u>) only during the period (the "<u>Exercise Period</u>") beginning on the applicable Exercise Date and ending on the earlier of (A) the day before your termination from employment for any reason and (B) the last day of the calendar year in which such Vesting Tranche becomes exercisable (each, an "<u>Expiration Date</u>") and (<u>y</u>) only upon written notice to the Directors of the General Partner (currently [Director Names]) of such exercise during the applicable Exercise Period. For clarity, the First Vesting Tranche shall not be exercisable following [Expiration Date 1], the Second Vesting Tranche shall not be exercisable following [Expiration Date 2], the Third Vesting Tranche shall not be exercisable following [Expiration Date 3] and the Final Vesting Tranche shall not be exercisable following [Expiration Date 4]. You must pay for the Units by paying the applicable exercise price no later than 15 days from the applicable date of exercise; however, this payment schedule is subject to change in order to comply with applicable law. If you fail to exercise and pay for the First Vesting Tranche, the Second Vesting Tranche, the Third Vesting Tranche or the Final Vesting Tranche, as applicable, during the applicable Exercise Period, you acknowledge and agree that the unexercised or unpaid for portion of the First Vesting Tranche, the Second Vesting Tranche, the Third Vesting Tranche or the Final Vesting Tranche (as applicable) shall terminate without consideration on the applicable Expiration Date. In addition, your

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Option shall terminate without consideration on the date of your termination of employment for any reason.

It is agreed and acknowledged that in the event of the occurrence of a Liquidity Event other than the first public offering of the equity securities of LI LP or an affiliate thereof pursuant to an effective registration statement filed with the Securities and Exchange Commission, and provided that you remain in continuous service of a Lincoln International company at all times from the date hereof through the date of such Liquidity Event (an "<u>Acceleration Event</u>"), this Option shall vest with respect to 100% of the Units underlying the Option. If this Option remains unexercised immediately prior to any Liquidity Event (other than a Liquidity Event solely for cash), Pre-Public Offering Transaction or any other merger, consolidation or similar event affecting LI LP (a "<u>Corporate Transaction</u>"), the General Partner may, in its discretion and subject to compliance with applicable law and Section 409A of the Code and the regulations promulgated thereunder ("<u>Section 409A</u>"), (i) cancel this Option in exchange for payments of cash, property or a combination thereof having an aggregate value equal to the value of this Option, as determined by the General Partner in its sole discretion; or (ii) substitute other property (including, without limitation, other securities of LI LP or securities of entities other than LI LP) for the Units subject to this Option; provided however that if the particular Liquidity Event, Pre-Public Offering Transaction or Corporate Transaction, as the case may be, does not satisfy the definition of a change in the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company, as defined in Section 409A, the Company shall not have the right to cancel the Option as described in clause (i) of this sentence. Any action or adjustment by the General Partner shall be conclusive and binding on you. If such Liquidity Event is solely for cash (and is not a public offering), then the General Partner may, in its discretion and subject to compliance with applicable law and Section 409A, cancel this Option in exchange for the right to receive, with respect to each Unit then underlying the Option, an amount equal to the positive excess, if any, of the Value per Unit (as defined

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below) over the Exercise Price per Unit. The amount determined in accordance with the preceding sentence, if any, following an Acceleration Event will be paid in cash or other immediately available funds, in a lump sum within thirty (30) days following the Acceleration Event, and any such amount shall be in full consideration for, and in cancellation of, this Option. Notwithstanding anything to the contrary herein whether express or implied, if the Exercise Price per Unit exceeds the Value per Unit as of the applicable Acceleration Event, no amount shall be payable with respect to this Option, and this Option shall be cancelled for no consideration. For purposes of this Option, the "Value Per Unit" shall be the value of the consideration received per Unit in the Liquidity Event as determined by the General Partner in its sole discretion.

<u>Other Terms of the Option</u>

You shall be responsible for the payment of all taxes associated with the grant of and your exercise of the Option, including any taxes owing due to the fact that the Units purchased may be purchased for less than fair market value at the time of grant or exercise. You shall also be responsible for the payment of all taxes associated with a cash payment in cancellation of the Option following an Acceleration Event, provided that LI LP or another Lincoln International entity shall have the right to withhold any required taxes in connection with any such payment following an Acceleration Event. You should consult with your tax advisor regarding the tax effect of any Option exercise or of this Option grant.

You agree that the Option may not be Transferred.

You agree that upon the exercise of the Option you shall execute and deliver a subscription agreement for the Units purchased, in form and substance satisfactory to LI LP. You agree that you shall have no rights as an owner of Units underlying any Option until the time of exercise with respect to such Option and the execution of the subscription agreement as set forth above. You agree that the Units issued pursuant to exercise of the Option will be governed by all the terms, conditions and obligations of the Partnership Agreement, including but not limited to the same dilution as other members of LI LP from the issuance of

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more ownership Units, restrictions on transfer and redemption as set forth therein. If issued to you, the Units issued pursuant to exercise of the Option will be deemed issued as of the date of exercise and issuance.

This Option is intended to satisfy the requirements of Section 409A. Notwithstanding the foregoing or any provision of this Option to the contrary, if any provision of this Option contravenes any requirements of Section 409A, LI LP may, in its sole discretion and without your consent, modify such provision to comply with, or avoid being subject to, Section 409A, or avoid the incurrence of taxes, interest and penalties under Section 409A. Neither LI LP nor its Affiliates, designees or agents shall be liable to you or any other person for actions, decisions or determinations made in good faith to the extent this Option shall be deemed not to comply with Section 409A.

<u>Governing Law; Arbitration</u>. All terms and provisions of this letter agreement shall be construed and governed by the internal laws of the State of Delaware consistent with the governing law of the Partnership Agreement. Any disputes under this letter agreement shall be subject to the arbitration provisions set forth in Section 13.3 of the Partnership Agreement.

<u>Waiver of Jury Trial</u>. You and LI LP each hereby knowingly, voluntarily and intentionally waive the right to a trial by jury with respect to any litigation relating to or arising out of this letter agreement.

<u>Severability</u>. The various provisions of this letter agreement are severable, and shall be interpreted in such manner as to be effective and valid under applicable law. If any provision or sub-provision of this letter agreement is held to be invalid, illegal, or unenforceable in any respect under any applicable law or rule, such invalidity, illegality or unenforceability shall not affect any other provision or sub-provision of this letter agreement.

<u>Waivers</u>. The waiver by either party of a breach by the other party of any provision of this letter agreement shall not operate or be construed as a waiver of any different or subsequent breach by the other party.

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<u>Binding Effect</u>. This letter agreement and all of the provisions hereof shall inure to the benefit of and be binding upon the successors and assigns of the parties.

<u>Entire Agreement</u>. This letter agreement embodies the entire agreement and understanding between the parties with respect to the subject matter hereof, and supersedes all prior agreements and understandings between you and LI LP. This letter agreement shall not be amended orally, but only by a written instrument executed by each party to this letter agreement.

<u>Construction</u>.&nbsp;&nbsp;&nbsp;&nbsp;Unless the context of this letter agreement otherwise requires, words of any gender include each other gender; and words using the singular or plural number also include the plural or singular number, respectively. In the event any ambiguity or question of intent or interpretation arises under this letter agreement, this letter agreement shall be construed as if drafted jointly by the parties and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this letter agreement.

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Sincerely,

LINCOLN INTERNATIONAL, LP

By: LI GP, Inc., its sole General Partner

_______________________________________

By: Robert Bruce Barr

Title: Director and President

_______________________________________

By: Lawrence James Lawson, III

Title: Director and Vice President

_______________________________________

By: Robert Todd Brown

Title: Director and Secretary and Treasurer

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Confirmed, agreed and acknowledged as of the date first set forth above:

__________________________

[Name]

## Exhibit 99.2

**Exhibit 99.2**

![image_1.jpg](image_1.jpg)

[Date]

[Name]

Dear [First Name]:

Reference is made to the Third Amended and Restated Limited Partnership Agreement of Lincoln International, LP, effective as of April 27, 2022, as amended by that certain Amendment No. 1 to the Third Amended and Restated Limited Partnership Agreement, effective as of January 1, 2025 (as the same may be further amended from time to time, the "<u>Partnership Agreement</u>"). Capitalized terms used but not otherwise defined herein shall have the meanings set forth in the Partnership Agreement. Lincoln International, LP ("<u>LI LP</u>" or the "<u>Company</u>") is the ultimate parent company of the Lincoln International group of companies. LI GP, Inc. (the "<u>General Partner</u>") is the General Partner of LI LP.

<u>Option Grant</u>

Effective as of the date hereof and conditioned upon your delivery of this agreement executed by you on or before [Date], LI LP hereby offers you an option (the "<u>Option</u>") to purchase [number of units in words] ([number of units in numerals]) Units in LI LP at an exercise price per Unit equal to the [Year] Per Unit Formula Price (the "<u>Exercise Price</u>"). The "<u>[Year] Per Unit Formula Price</u>" is equal to (i) the Formula Price as of December 31, [Year] divided by (ii) the number of Units in LI LP outstanding as of December 31, [Year]. The "<u>Formula Price</u>" calculation is set forth in Section 9.8 of the Partnership Agreement. For the avoidance of doubt, if the Company does not receive an executed copy of this agreement on or before [Date], this agreement shall be null and void and no Units in LI LP will be issued to you.

Lincoln International, LP<br>110 N. Wacker Dr

Floor 51

Chicago, Illinois 60606**&nbsp;&nbsp;&nbsp;&nbsp;www.lincolninternational.com**

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![image_1.jpg](image_1.jpg)

This Option shall vest according to the following schedule (i) [__] of the Units underlying the Option shall vest on [Vesting Date 1] (the "<u>First Vesting Tranche</u>"), (ii) the next [__] of the Units underlying the Option shall vest on [Vesting Date 2] (the "<u>Second Vesting Tranche</u>"), (iii) the next [__] of the Units underlying the Option on [Vesting Date 3] (the "<u>Third Vesting Tranche</u>") and (iv) the remaining [__] of the Units underlying the Option on [Vesting Date 4] (the "<u>Final Vesting Tranche</u>" and, together with the First Vesting Tranche, the Second Vesting Tranche and the Third Vesting Tranche, the "<u>Vesting Tranches</u>"), subject to your continued service with LI LP and its affiliates (and you not having tendered your resignation) through the applicable vesting date. The First Vesting Tranche shall become exercisable on [Vesting Date 1], the Second Vesting Tranche shall become exercisable on [Vesting Date 2], the Third Vesting Tranche shall become exercisable on [Vesting Date 3] and the Final Vesting Tranche shall become exercisable on [Vesting Date 4] (each, an "<u>Exercise Date</u>"). If the Option becomes exercisable in accordance with the preceding sentence, you may exercise the portion of the Option that becomes exercisable as of the applicable Exercise Date, in full or in part in any whole number of Units, (<u>x</u>) only during the period (the "<u>Exercise Period</u>") beginning on the applicable Exercise Date and ending on the earlier of (A) the day before your termination from employment for any reason and (B) the last day of the calendar year in which such Vesting Tranche becomes exercisable (each, an "<u>Expiration Date</u>") and (<u>y</u>) only upon written notice to the Directors of the General Partner (currently [Director Names]) of such exercise during the applicable Exercise Period. For clarity, the First Vesting Tranche shall not be exercisable following [Expiration Date 1], the Second Vesting Tranche shall not be exercisable following [Expiration Date 2], the Third Vesting Tranche shall not be exercisable following [Expiration Date 3] and the Final Vesting Tranche shall not be exercisable following [Expiration Date 4]. You must pay for the Units by paying the applicable exercise price no later than 15 days from the applicable date of exercise; however, this payment schedule is subject to change in order to comply with

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![image_1.jpg](image_1.jpg)

applicable law. If you fail to exercise and pay for the First Vesting Tranche, the Second Vesting Tranche, the Third Vesting Tranche or the Final Vesting Tranche, as applicable, during the applicable Exercise Period, you acknowledge and agree that the unexercised or unpaid for portion of the First Vesting Tranche, the Second Vesting Tranche, the Third Vesting Tranche or the Final Vesting Tranche (as applicable) shall terminate without consideration on the applicable Expiration Date. In addition, your Option shall terminate without consideration on the date of your termination of employment for any reason.

It is agreed and acknowledged that in the event of the occurrence of a Liquidity Event other than the first public offering of the equity securities of LI LP or an affiliate thereof pursuant to an effective registration statement filed with the Securities and Exchange Commission, and provided that you remain in continuous service of a Lincoln International company at all times from the date hereof through the date of such Liquidity Event (an "<u>Acceleration Event</u>"), this Option shall vest with respect to 100% of the Units underlying the Option. If this Option remains unexercised immediately prior to any Liquidity Event (other than a Liquidity Event solely for cash), Pre-Public Offering Transaction or any other merger, consolidation or similar event affecting LI LP (a "<u>Corporate Transaction</u>"), the General Partner may, in its discretion and subject to compliance with applicable law and Section 409A of the Code and the regulations promulgated thereunder ("<u>Section 409A</u>"), (i) cancel this Option in exchange for payments of cash, property or a combination thereof having an aggregate value equal to the value of this Option, as determined by the General Partner in its sole discretion; or (ii) substitute other property (including, without limitation, other securities of LI LP or securities of entities other than LI LP) for the Units subject to this Option; provided however that if the particular Liquidity Event, Pre-Public Offering Transaction or Corporate Transaction, as the case may be, does not satisfy the definition of a change in

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![image_1.jpg](image_1.jpg)

the ownership or effective control of the Company, or in the ownership of a substantial portion of the assets of the Company, as defined in Section 409A, the Company shall not have the right to cancel the Option as described in clause (i) of this sentence. Any action or adjustment by the General Partner shall be conclusive and binding on you. If such Liquidity Event is solely for cash (and is not a public offering), then the General Partner may, in its discretion and subject to compliance with applicable law and Section 409A, cancel this Option in exchange for the right to receive, with respect to each Unit then underlying the Option, an amount equal to the positive excess, if any, of the Value per Unit (as defined below) over the Exercise Price per Unit. The amount determined in accordance with the preceding sentence, if any, following an Acceleration Event will be paid in cash or other immediately available funds, in a lump sum within thirty (30) days following the Acceleration Event, and any such amount shall be in full consideration for, and in cancellation of, this Option. Notwithstanding anything to the contrary herein whether express or implied, if the Exercise Price per Unit exceeds the Value per Unit as of the applicable Acceleration Event, no amount shall be payable with respect to this Option, and this Option shall be cancelled for no consideration. For purposes of this Option, the "Value Per Unit" shall be the value of the consideration received per Unit in the Liquidity Event as determined by the General Partner in its sole discretion.

<u>Other Terms of the Option</u>

You shall be responsible for the payment of all taxes associated with the grant of and your exercise of the Option, including any taxes owing due to the fact that the Units purchased may be purchased for less than fair market value at the time of grant or exercise. You shall also be responsible for the payment of all taxes associated with a cash payment in cancellation of the Option following an Acceleration Event,

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![image_1.jpg](image_1.jpg)

provided that LI LP or another Lincoln International entity shall have the right to withhold any required taxes in connection with any such payment following an Acceleration Event. You should consult with your tax advisor regarding the tax effect of any Option exercise or of this Option grant.

You agree that the Option may not be Transferred.

You agree that upon the exercise of the Option you shall execute and deliver a subscription agreement for the Units purchased, in form and substance satisfactory to LI LP. You agree that you shall have no rights as an owner of Units underlying any Option until the time of exercise with respect to such Option and the execution of the subscription agreement as set forth above. You agree that the Units issued pursuant to exercise of the Option will be governed by all the terms, conditions and obligations of the Partnership Agreement, including but not limited to the same dilution as other members of LI LP from the issuance of more ownership Units, restrictions on transfer and redemption as set forth therein. If issued to you, the Units issued pursuant to exercise of the Option will be deemed issued as of the date of exercise and issuance.

This Option is intended to satisfy the requirements of Section 409A. Notwithstanding the foregoing or any provision of this Option to the contrary, if any provision of this Option contravenes any requirements of Section 409A, LI LP may, in its sole discretion and without your consent, modify such provision to comply with, or avoid being subject to, Section 409A, or avoid the incurrence of taxes, interest and penalties under Section 409A. Neither LI LP nor its Affiliates, designees or agents shall be liable to you or any other person for actions, decisions or determinations made in good faith to the extent this Option shall be deemed not to comply with Section 409A.

<u>Governing Law; Arbitration</u>. All terms and provisions of this letter agreement shall be construed and governed by the internal laws of the State of Delaware consistent with the governing law of the

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![image_1.jpg](image_1.jpg)

Partnership Agreement. Any disputes under this letter agreement shall be subject to the arbitration provisions set forth in Section 13.3 of the Partnership Agreement.

<u>Waiver of Jury Trial</u>. You and LI LP each hereby knowingly, voluntarily and intentionally waive the right to a trial by jury with respect to any litigation relating to or arising out of this letter agreement.

<u>Severability</u>. The various provisions of this letter agreement are severable, and shall be interpreted in such manner as to be effective and valid under applicable law. If any provision or sub-provision of this letter agreement is held to be invalid, illegal, or unenforceable in any respect under any applicable law or rule, such invalidity, illegality or unenforceability shall not affect any other provision or sub-provision of this letter agreement.

<u>Waivers</u>. The waiver by either party of a breach by the other party of any provision of this letter agreement shall not operate or be construed as a waiver of any different or subsequent breach by the other party.

<u>Binding Effect</u>. This letter agreement and all of the provisions hereof shall inure to the benefit of and be binding upon the successors and assigns of the parties.

<u>Entire Agreement</u>. This letter agreement embodies the entire agreement and understanding between the parties with respect to the subject matter hereof, and supersedes all prior agreements and understandings between you and LI LP. This letter agreement shall not be amended orally, but only by a written instrument executed by each party to this letter agreement.

<u>Construction</u>.&nbsp;&nbsp;&nbsp;&nbsp;Unless the context of this letter agreement otherwise requires, words of any gender include each other gender; and words using the singular or plural number also include the plural or singular number, respectively. In the event any ambiguity or question of intent or interpretation arises

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![image_1.jpg](image_1.jpg)

under this letter agreement, this letter agreement shall be construed as if drafted jointly by the parties and no presumption or burden of proof shall arise favoring or disfavoring any party by virtue of the authorship of any of the provisions of this letter agreement.

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![image_1.jpg](image_1.jpg)

Sincerely,

LINCOLN INTERNATIONAL, LP

By: LI GP, Inc., its sole General Partner

_______________________________________

By: Robert Bruce Barr

Title: Director and President

_______________________________________

By: Lawrence James Lawson, III

Title: Director and Vice President

_______________________________________

By: Robert Todd Brown

Title: Director and Secretary and Treasurer

[Signature Page to LI LP Option Agreement]

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![image_1.jpg](image_1.jpg)

Confirmed, agreed and acknowledged as of the date first set forth above:

__________________________

[Name]

<br>