Chad D. Nyce - Feb 23, 2023 Form 4 Insider Report for LINCOLN EDUCATIONAL SERVICES CORP (LINC)

Signature
/s/ Chad D. Nyce
Stock symbol
LINC
Transactions as of
Feb 23, 2023
Transactions value $
$0
Form type
4
Date filed
2/27/2023, 05:34 PM
Previous filing
Mar 16, 2022
Next filing
Mar 6, 2023

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction LINC Common Stock Award $0 +56.9K +31.76% $0.00 236K Feb 23, 2023 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 56,911 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, 2024. 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.