Scott M Shaw - 19 Feb 2025 Form 4 Insider Report for LINCOLN EDUCATIONAL SERVICES CORP (LINC)

Role: CEO, Director
Signature: /s/ Scott M Shaw
Issuer symbol: LINC
Transactions as of: 19 Feb 2025
Net transactions value: $0
Form type: 4
Filing time: 21 Feb 2025, 21:31:59 UTC
Previous filing: 05 Mar 2024
Next filing: 04 Mar 2025
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LINC	Common Stock	Award	$0	+83,426	+7.9%	$0.000000	1,137,073	19 Feb 2025	Direct	F1
transaction	LINC	Common Stock	Award	$0	+38,932	+3.4%	$0.000000	1,176,005	19 Feb 2025	Direct	F2

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

Explanation of Responses:

Id	Content
F1	The reporting person was granted 83,426 shares of restricted common stock under the Lincoln Educational Services Corporation 2020 Long-Term Incentive Plan. Fifty percent of the grant is subject to time-based vesting while the remaining fifty percent of the grant is subject to performance-based vesting. The shares of restricted common stock subject to performance based vesting will best, if at all, upon the Company's achievement of metrics set by the registrant and may result in additional shares being issued up to a maximum of 200% of the performance-based shares reported above if the target set is exceeded. As to the time-based shares, the shares will vest, if at all, in substantially equal annual tranches over three years beginning on March 1, 2026. Similarly, as to the performance-based shares, the shares will vest, if at all, in annual tranches over three years with the number of shares vesting being determined based on the percentage of the target achieved.
F2	The reporting person was granted 38,932 shares of restricted common stock under the Lincoln Educational Services Corporation 2020 Long-Term Incentive Plan. One-hundred percent of the grant is subject to performance-based vesting under which the shares will vest, if at all, upon the Company's achievement of metrics set by the registrant for 2027. The shares will vest, if at all, on March 1, 2028 with the number of shares vesting being determined by reference to the percentage of the target achieved. The number of shares reported above is the maximum number of shares that may become vested.

Content

The reporting person was granted 83,426 shares of restricted common stock under the Lincoln Educational Services Corporation 2020 Long-Term Incentive Plan. Fifty percent of the grant is subject to time-based vesting while the remaining fifty percent of the grant is subject to performance-based vesting. The shares of restricted common stock subject to performance based vesting will best, if at all, upon the Company's achievement of metrics set by the registrant and may result in additional shares being issued up to a maximum of 200% of the performance-based shares reported above if the target set is exceeded. As to the time-based shares, the shares will vest, if at all, in substantially equal annual tranches over three years beginning on March 1, 2026. Similarly, as to the performance-based shares, the shares will vest, if at all, in annual tranches over three years with the number of shares vesting being determined based on the percentage of the target achieved.

The reporting person was granted 38,932 shares of restricted common stock under the Lincoln Educational Services Corporation 2020 Long-Term Incentive Plan. One-hundred percent of the grant is subject to performance-based vesting under which the shares will vest, if at all, upon the Company's achievement of metrics set by the registrant for 2027. The shares will vest, if at all, on March 1, 2028 with the number of shares vesting being determined by reference to the percentage of the target achieved. The number of shares reported above is the maximum number of shares that may become vested.