Scott M. Shaw - Feb 23, 2022 Form 4 Insider Report for LINCOLN EDUCATIONAL SERVICES CORP (LINC)

Role: CEO, Director
Signature: /s/ Scott M. Shaw
Stock symbol: LINC
Transactions as of: Feb 23, 2022
Transactions value $: $0
Form type: 4
Date filed: 2/25/2022, 03:14 PM
Next filing: Mar 1, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LINC	Common Stock	Award	$0	+151K	+17.5%	$0.00	1.01M	Feb 23, 2022	Direct	F1

* 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 150,892 shares of restricted common stock under the Lincoln Educational Services Corporation's 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 requiring the reporting person's achievement of metrics set by the registrant annually. In both cases, the shares will vest, if at all, in substantially equal annual tranches over three years beginning on March 15, 2023. With respect to the performance -based vesting, if an annual performance metrics are not met in a particular year, the shares may vest cumulatively based on the achievement of cumulative performance targets.

Content

The reporting person was granted 150,892 shares of restricted common stock under the Lincoln Educational Services Corporation's 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 requiring the reporting person's achievement of metrics set by the registrant annually. In both cases, the shares will vest, if at all, in substantially equal annual tranches over three years beginning on March 15, 2023. With respect to the performance -based vesting, if an annual performance metrics are not met in a particular year, the shares may vest cumulatively based on the achievement of cumulative performance targets.