Juniper Investment Company, LLC - 25 Feb 2026 Form 4 Insider Report for LINCOLN EDUCATIONAL SERVICES CORP (LINC)

Role: Affiliate
Signature: Juniper Investment Company, LLC, By: /s/ John A. Bartholdson, its Managing Member
Issuer symbol: LINC
Transactions as of: 25 Feb 2026
Net transactions value: -$9,500,645
Form type: 4
Filing time: 27 Feb 2026, 13:33:07 UTC
Previous filing: 09 Dec 2024
Next filing: 03 Mar 2026
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Juniper Investment Company, LLC	Affiliate	555 MADISON AVENUE, 24TH FLOOR, NEW YORK	Juniper Investment Company, LLC, By: /s/ John A. Bartholdson, its Managing Member	27 Feb 2026	0001794034

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	$9,500,645	-275,000	-12%	$34.55	2,088,311	25 Feb 2026	Juniper Targeted Opportunity Fund, L.P.	F1, F2

* 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 $34.2900 and $35.2100. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.
F2	Represents 2,088,311 shares held by Juniper Targeted Opportunity Fund, L.P. (the "Juniper Fund"), of which Juniper Investment Company, LLC ("Juniper Investment") serves as the investment advisor. Mr. Bartholdson and another individual serve as the managing members of Juniper Investment. As a result, Mr. Bartholdson shares voting and dispositive power over such shares with the Juniper Fund, Juniper Investment and the other individual. Mr. Bartholdson disclaims beneficial ownership of such shares reflected herein except to the extent of his pecuniary interest herein.

Content

Represents the weighted average per share price with a range from $34.2900 and $35.2100. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

Represents 2,088,311 shares held by Juniper Targeted Opportunity Fund, L.P. (the "Juniper Fund"), of which Juniper Investment Company, LLC ("Juniper Investment") serves as the investment advisor. Mr. Bartholdson and another individual serve as the managing members of Juniper Investment. As a result, Mr. Bartholdson shares voting and dispositive power over such shares with the Juniper Fund, Juniper Investment and the other individual. Mr. Bartholdson disclaims beneficial ownership of such shares reflected herein except to the extent of his pecuniary interest herein.