John A. Bartholdson - May 5, 2023 Form 4 Insider Report for LINCOLN EDUCATIONAL SERVICES CORP (LINC)

Role: Director, 10%+ Owner
Signature: /s/ John A Bartholdson
Stock symbol: LINC
Transactions as of: May 5, 2023
Transactions value $: $59,999
Form type: 4
Date filed: 5/9/2023, 03:46 PM
Previous filing: Jan 10, 2023
Next filing: May 23, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LINC	Common Stock	Award	$60K	+10.5K	+27.18%	$5.73	49K	May 5, 2023	Direct	F1
holding	LINC	Common Stock						5.63M	May 5, 2023	See Footnote	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Award of 10,471 shares of Restricted Stock valued at $60,000 on the date of award based on a price of $5.73 per share, the closing price per share on the date of the award. These restricted shares vest on the first anniversary of the grant date.
F2	Comprised of (i) 3,262,714 shares held by Juniper Targeted Opportunities L.P. ("Juniper Targeted Opportunities") and (ii) 2,363,311 shares held by Juniper Targeted Opportunity Fund, L.P. ("Juniper Fund"). Juniper Investment Company, LLC ("Juniper Investment Company") serves as the investment advisor to Juniper Targeted Opportunities and Juniper Fund. Mr. Bartholdson and another individual serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and Juniper Fund and as a result, Mr. Bartholdson shares voting and dispositive power over such shares with Juniper Investment Company and the other individual. Mr. Bartholdson disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities and Juniper Fund reflected herein except to the extent of his pecuniary interest therein.

Content

Award of 10,471 shares of Restricted Stock valued at $60,000 on the date of award based on a price of $5.73 per share, the closing price per share on the date of the award. These restricted shares vest on the first anniversary of the grant date.

Comprised of (i) 3,262,714 shares held by Juniper Targeted Opportunities L.P. ("Juniper Targeted Opportunities") and (ii) 2,363,311 shares held by Juniper Targeted Opportunity Fund, L.P. ("Juniper Fund"). Juniper Investment Company, LLC ("Juniper Investment Company") serves as the investment advisor to Juniper Targeted Opportunities and Juniper Fund. Mr. Bartholdson and another individual serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and Juniper Fund and as a result, Mr. Bartholdson shares voting and dispositive power over such shares with Juniper Investment Company and the other individual. Mr. Bartholdson disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities and Juniper Fund reflected herein except to the extent of his pecuniary interest therein.