Juniper Investment Company, LLC - Jun 14, 2023 Form 4 Insider Report for LINCOLN EDUCATIONAL SERVICES CORP (LINC)

Role
10%+ Owner
Signature
Juniper Investment Company, LLC, By: /s/ John A. Bartholdson, its Managing Member
Stock symbol
LINC
Transactions as of
Jun 14, 2023
Transactions value $
-$1,245,540
Form type
4
Date filed
6/16/2023, 04:00 PM
Previous filing
Jun 29, 2023
Next filing
Aug 15, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LINC Common Stock, no par value per share Sale -$1.25M -194K -8.56% $6.41 2.08M Jun 14, 2023 Juniper Targeted Opportunities L.P. F1, F2
transaction LINC Common Stock, no par value per share Other -471K -22.66% 1.61M Jun 14, 2023 Juniper Targeted Opportunities L.P. F2, F3
transaction LINC Common Stock, no par value per share Other +290K +1768.54% 306K Jun 14, 2023 Alexis P. Michas F4
transaction LINC Common Stock, no par value per share Other +145K +295.83% 194K Jun 14, 2023 John A. Bartholdson F5
holding LINC Common Stock, no par value per share 2.36M Jun 14, 2023 Juniper Targeted Opportunity Fund, L.P. F6
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 Represents the weighted average per share price with a range from $6.25 and $6.53. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.
F2 As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.
F3 On June 14, 2023, Juniper Targeted Opportunities distributed, for no consideration, 470,647 shares of Common Stock to its general partner, Juniper Targeted Opportunity Investors, LLC ("General Partner"), in an amount equal to the General Partner's pro rata interest in the shares held by Juniper Targeted Opportunities. On the same date, the General Partner, distributed, for no consideration, the shares of Common Stock it received from the Juniper Targeted Opportunities distribution to its members in an amount equal to each such member's pro rata interest in such shares. Mr. Michas received 289,926 shares of Common Stock in such distribution. Mr. Bartholdson received 144,963 shares of Common Stock in such distribution.
F4 Shares distributed for no consideration to Mr. Michas. See footnote 3 above.
F5 Shares distributed for no consideration to Mr. Bartholdson. See footnote 3 above.
F6 As the investment manager of Juniper Targeted Opportunity Fund, L.P. ("Juniper Targeted Opportunity Fund"), Juniper Investment Company may be deemed to beneficially own the securities held by the Juniper Targeted Opportunity Fund. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. Bartholdson and Mr. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunity Fund and as a result, each of Mr. Bartholdson and Mr. Michas shares voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunity Fund reflected herein except to the extent of his pecuniary interest therein.