LINC

SEC source: 0001286613-26-000098 · form4.xml · nonDerivative · entry 1

LUSTER ALEXANDRA M · CIK 0001331004 · SVP and General Counsel

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 82,356

F2 · price: The reported price is a weighted average price. The shares were sold on June 15, 2026 in multiple transactions on the open market at prices ranging from $44.31 to $44.80. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs.

SEC source: 0001019056-26-000106 · ownership.xml · nonDerivative · entry 2

Juniper Investment Company, LLC · CIK 0001794034 · Affiliate

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunity Fund, L.P.

Disclosed balance after: 1,732,966

F3 · price: Represents the weighted average per share price with a range from $46.2200 and $48.0300. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F2 · ownership.nature: Represents 1,732,966 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. John A. Bartholdson, the Chairman of the Board of the Issuer, 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 therein.

SEC source: 0001019056-26-000106 · ownership.xml · nonDerivative · entry 1

Juniper Investment Company, LLC · CIK 0001794034 · Affiliate

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunity Fund, L.P.

Disclosed balance after: 1,781,778

F1 · price: Represents the weighted average per share price with a range from $47.6500 and $48.1800. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F2 · ownership.nature: Represents 1,732,966 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. John A. Bartholdson, the Chairman of the Board of the Issuer, 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 therein.

SEC source: 0001286613-26-000096 · form4.xml · nonDerivative · entry 3

Carney Kevin M · CIK 0001328197 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · By the Kevin M. Carney Living Trust

Disclosed balance after: 25,039

F2 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs.

SEC source: 0001286613-26-000096 · form4.xml · nonDerivative · entry 2

Carney Kevin M · CIK 0001328197 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · By the Kevin M. Carney Living Trust

Disclosed balance after: 28,039

F1 · kind: The Reporting Person transferred 3,216 shares of common stock previously reported as directly owned by the Reporting Person, to the Kevin M. Carney Living Trust, for which the Reporting Person and his spouse serve as co-trustees, and as to which the Reporting Person is the beneficiary. This transfer effected only a change in the form of beneficial ownership from Direct to Indirect, and did not result in any change in the Reporting Person's pecuniary interest in such shares.

SEC source: 0001286613-26-000096 · form4.xml · nonDerivative · entry 1

Carney Kevin M · CIK 0001328197 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 2,495

F1 · kind: The Reporting Person transferred 3,216 shares of common stock previously reported as directly owned by the Reporting Person, to the Kevin M. Carney Living Trust, for which the Reporting Person and his spouse serve as co-trustees, and as to which the Reporting Person is the beneficiary. This transfer effected only a change in the form of beneficial ownership from Direct to Indirect, and did not result in any change in the Reporting Person's pecuniary interest in such shares.

SEC source: 0001286613-26-000094 · form4.xml · nonDerivative · entry 1

LUSTER ALEXANDRA M · CIK 0001331004 · SVP and General Counsel

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 100,363

F2 · price: The reported price is a weighted average price. The shares were sold on June 5, 2026 in multiple transactions on the open market at prices ranging from $50.00 to $50.68. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs.

SEC source: 0001019056-26-000104 · ownership.xml · nonDerivative · entry 2

Juniper Investment Company, LLC · CIK 0001794034 · Affiliate

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunity Fund, L.P.

Disclosed balance after: 1,781,778

F3 · price: Represents the weighted average per share price with a range from $50.6000 and $51.2900. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F2 · ownership.nature: Represents 1,781,778 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. John A. Bartholdson, the Chairman of the Board of the Issuer, 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 therein.

SEC source: 0001286613-26-000092 · form4.xml · nonDerivative · entry 1

Pryor Felecia J. · CIK 0001772874 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,801

F1 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs.

SEC source: 0001019056-26-000104 · ownership.xml · nonDerivative · entry 1

Juniper Investment Company, LLC · CIK 0001794034 · Affiliate

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunity Fund, L.P.

Disclosed balance after: 1,806,986

F1 · price: Represents the weighted average per share price with a range from $50.0400 and $50.3093. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F2 · ownership.nature: Represents 1,781,778 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. John A. Bartholdson, the Chairman of the Board of the Issuer, 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 therein.

SEC source: 0001286613-26-000089 · form4.xml · nonDerivative · entry 1

BURKE JAMES J JR · CIK 0001091323 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 44,198

F2 · price: The reported price is a weighted average price. The shares were sold on May 22, 2026 in multiple transactions on the open market at prices ranging from $48.31 to $48.42. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs

SEC source: 0001286613-26-000086 · form4.xml · nonDerivative · entry 2

BURKE JAMES J JR · CIK 0001091323 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 60,005

F3 · price: The reported price is a weighted average price. The shares were sold on May 18, 2026 in multiple transactions on the open market at prices ranging from $49.45 to $49.95. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs

SEC source: 0001019056-26-000102 · ownership.xml · nonDerivative · entry 2

Juniper Investment Company, LLC · CIK 0001794034 · Affiliate

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunity Fund, L.P.

Disclosed balance after: Not disclosed

F2 · ownership.nature: Represents 1,888,490 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. John A. Bartholdson, the Chairman of the Board of the Issuer, 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 therein.

SEC source: 0001286613-26-000086 · form4.xml · nonDerivative · entry 1

BURKE JAMES J JR · CIK 0001091323 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 76,005

F2 · price: The reported price is a weighted average price. The shares were sold on May 14, 2026 in multiple transactions on the open market at prices ranging from $51.72 to $51.79. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs

SEC source: 0001019056-26-000102 · ownership.xml · nonDerivative · entry 1

Juniper Investment Company, LLC · CIK 0001794034 · Affiliate

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunity Fund, L.P.

Disclosed balance after: Not disclosed

F1 · price: Represents the weighted average per share price with a range from $51.00 and $51.64. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F2 · ownership.nature: Represents 1,888,490 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. John A. Bartholdson, the Chairman of the Board of the Issuer, 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 therein.

SEC source: 0001286613-26-000083 · form4.xml · nonDerivative · entry 1

Meyers Brian K · CIK 0001629974 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 160,712

F2 · price: The reported price is a weighted average price. The shares were sold on May 12, 2026 in multiple transactions on the open market at prices ranging from $49.30 to $50.68. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs

SEC source: 0001286613-26-000065 · form4.xml · nonDerivative · entry 1

BURKE JAMES J JR · CIK 0001091323 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 76,198

F1 · price: Grant of Restricted Stock valued at $110,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-26-000071 · form4.xml · nonDerivative · entry 1

Newhart Marta · CIK 0002028438 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,059

F1 · price: Grant of Restricted Stock valued at $110,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-26-000080 · form4.xml · nonDerivative · entry 1

Bartholdson John A. · CIK 0001382909 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 212,458

F1 · price: Award of 3,515 shares of Restricted Stock valued at $155,000 on the date of award based on a price of $44.10 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.

SEC source: 0001286613-26-000078 · form4.xml · nonDerivative · entry 1

Carney Kevin M · CIK 0001328197 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 5,711

F1 · price: Grant of Restricted Stock valued at $110,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-26-000075 · form4.xml · nonDerivative · entry 1

Pryor Felecia J. · CIK 0001772874 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 16,801

F1 · price: Grant of Restricted Stock valued at $110,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-26-000076 · form4.xml · nonDerivative · entry 1

Plater Michael A · CIK 0001534414 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 20,063

F1 · price: Grant of Restricted Stock valued at $110,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-26-000073 · form4.xml · nonDerivative · entry 1

CABRAL ANNA ESCOBEDO · CIK 0001627381 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 10,059

F1 · price: Grant of Restricted Stock valued at $110,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-26-000069 · form4.xml · nonDerivative · entry 1

Rose Carlton · CIK 0001821282 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 17,790

F1 · price: Grant of Restricted Stock valued at $110,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-26-000067 · form4.xml · nonDerivative · entry 1

Young Sylvia Jean · CIK 0001966642 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,192

F1 · price: Grant of Restricted Stock valued at $110,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-26-000050 · form4.xml · nonDerivative · entry 1

Nyce Chad D · CIK 0001805376 · EVP & Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 174,206

F2 · price: The reported price is a weighted average price. The shares were sold on March 10, 2026 in multiple transactions on the open market at prices ranging from $36.45 to $36.54. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs

SEC source: 0001286613-26-000047 · form4.xml · nonDerivative · entry 1

Young Sylvia Jean · CIK 0001966642 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 12,697

F2 · price: The reported price is a weighted average price. The shares were sold on March 6, 2026 in multiple transactions on the open market at prices ranging from $35.79 to $35.87. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · acquired: The Reporting Person's sale of shares was completed in connection with her financial planning needs

SEC source: 0001286613-26-000034 · form4.xml · nonDerivative · entry 1

Plater Michael A · CIK 0001534414 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 17,568

F2 · price: The reported price is a weighted average price. The shares were sold on March 2, 2026 in multiple transactions on the open market at prices ranging from $35.30 to $36.22. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs

SEC source: 0001286613-26-000042 · form4.xml · nonDerivative · entry 2

Nyce Chad D · CIK 0001805376 · EVP & Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 182,656

F2 · shares: Consists of shares withheld by the Issuer with respect to income taxes payable by the Reporting Person upon the vesting and delivery of the performance-based shares and of the time-based shares of restricted stock previously granted by the Issuer on each of February 23, 2023, February 22, 2024, February 19, 2025 and March 1,2026.

SEC source: 0001286613-26-000042 · form4.xml · nonDerivative · entry 1

Nyce Chad D · CIK 0001805376 · EVP & Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 206,683

F1 · shares: The Reporting Person was issued 4,329 additional shares of common stock pursuant to the Lincoln Educational Services Corporation 2020 Long-Term Incentive Plan. The issuance of these additional shares relates to the vesting of the first tranche of a previously reported performance-based restricted stock award granted on February 19, 2025, and were issued based on performance metrics achieved above target.

SEC source: 0001286613-26-000041 · form4.xml · nonDerivative · entry 2

Ace Stephen E · CIK 0001699911 · SVP and Chief Human Resources

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 150,079

F2 · shares: Consists of shares withheld by the Issuer with respect to income taxes payable by the Reporting Person upon the vesting and delivery of the performance-based shares and of the time-based shares of restricted stock previously granted by the Issuer on each of February 23, 2023, February 22, 2024, February 19, 2025 and March 1,2026.

SEC source: 0001286613-26-000041 · form4.xml · nonDerivative · entry 1

Ace Stephen E · CIK 0001699911 · SVP and Chief Human Resources

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 155,098

F1 · shares: The Reporting Person was issued 833 additional shares of common stock pursuant to the Lincoln Educational Services Corporation 2020 Long-Term Incentive Plan. The issuance of these additional shares relates to the vesting of the first tranche of a previously reported performance-based restricted stock award granted on February 19, 2025, and were issued based on performance metrics achieved above target.

SEC source: 0001286613-26-000044 · form4.xml · nonDerivative · entry 2

Meyers Brian K · CIK 0001629974 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 200,782

F2 · shares: Consists of shares withheld by the Issuer with respect to income taxes payable by the Reporting Person upon the vesting and delivery of the performance-based shares and of the time-based shares of restricted stock previously granted by the Issuer on each of February 23, 2023, February 22, 2024, February 19, 2025 and March 1,2026.

SEC source: 0001286613-26-000044 · form4.xml · nonDerivative · entry 1

Meyers Brian K · CIK 0001629974 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 231,516

F1 · shares: The Reporting Person was issued 4,329 additional shares of common stock pursuant to the Lincoln Educational Services Corporation 2020 Long-Term Incentive Plan. The issuance of these additional shares relates to the vesting of the first tranche of a previously reported performance-based restricted stock award granted on February 19, 2025, and were issued based on performance metrics achieved above target.

SEC source: 0001286613-26-000043 · form4.xml · nonDerivative · entry 2

SHAW SCOTT M · CIK 0001330739 · Director · CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,104,841

F2 · shares: Consists of shares withheld by the Issuer with respect to income taxes payable by the Reporting Person upon the vesting and delivery of the performance-based shares and of the time-based shares of restricted stock previously granted by the Issuer on each of February 23, 2023, February 22, 2024, February 19, 2025 and March 1,2026.

SEC source: 0001286613-26-000043 · form4.xml · nonDerivative · entry 1

SHAW SCOTT M · CIK 0001330739 · Director · CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,177,680

F1 · shares: The Reporting Person was issued 9,991 additional shares of common stock pursuant to the Lincoln Educational Services Corporation 2020 Long-Term Incentive Plan. The issuance of these additional shares relates to the vesting of the first tranche of a previously reported performance-based restricted stock award granted on February 19, 2025, and were issued based on performance metrics achieved above target.

SEC source: 0001286613-26-000040 · form4.xml · nonDerivative · entry 2

LUSTER ALEXANDRA M · CIK 0001331004 · SVP and General Counsel

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 102,356

F2 · shares: Consists of shares withheld by the Issuer with respect to income taxes payable by the Reporting Person upon the vesting and delivery of the performance-based shares and of the time-based shares of restricted stock previously granted by the Issuer on each of February 23, 2023, February 22, 2024, February 19, 2025 and March 1,2026.

SEC source: 0001286613-26-000040 · form4.xml · nonDerivative · entry 1

LUSTER ALEXANDRA M · CIK 0001331004 · SVP and General Counsel

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 107,097

F1 · shares: The Reporting Person was issued 833 additional shares of common stock pursuant to the Lincoln Educational Services Corporation 2020 Long-Term Incentive Plan. The issuance of these additional shares relates to the vesting of the first tranche of a previously reported performance-based restricted stock award granted on February 19, 2025, and were issued based on performance metrics achieved above target.

SEC source: 0001286613-26-000031 · form4.xml · nonDerivative · entry 2

BURKE JAMES J JR · CIK 0001091323 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 73,703

F3 · price: The reported price is a weighted average price. The shares were sold on February 26, 2026 in multiple transactions on the open market at prices ranging from $34.85 to $34.93. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs

SEC source: 0001286613-26-000031 · form4.xml · nonDerivative · entry 1

BURKE JAMES J JR · CIK 0001091323 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 76,917

F2 · price: The reported price is a weighted average price. The shares were sold on February 25, 2026 in multiple transactions on the open market at prices ranging from $34.65 to $34.81. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs

SEC source: 0001019056-26-000054 · ownership.xml · nonDerivative · entry 1

Juniper Investment Company, LLC · CIK 0001794034 · Affiliate

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunity Fund, L.P.

Disclosed balance after: 2,088,311

F1 · price: 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 · ownership.nature: 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.

SEC source: 0001019056-26-000061 · ownership.xml · nonDerivative · entry 1

Juniper Investment Company, LLC · CIK 0001794034 · Affiliate

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunity Fund, L.P.

Disclosed balance after: 1,938,311

F1 · price: Represents the weighted average per share price with a range from $35.55 and $35.87. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F2 · ownership.nature: Represents 1,938,311 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. John A. Bartholdson, the Chairman of the Board of the Reporting Person, 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 therein.

SEC source: 0001286613-26-000019 · form4.xml · nonDerivative · entry 1

Nyce Chad D · CIK 0001805376 · EVP & Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 202,354

F1 · security: The reporting person was granted 32,145 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 vest, 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, 2027. 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.

F1 · date: The reporting person was granted 32,145 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 vest, 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, 2027. 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.

F1 · deemedExecutionDate: The reporting person was granted 32,145 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 vest, 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, 2027. 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.

F1 · kind: The reporting person was granted 32,145 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 vest, 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, 2027. 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.

F1 · shares: The reporting person was granted 32,145 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 vest, 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, 2027. 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.

F1 · price: The reporting person was granted 32,145 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 vest, 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, 2027. 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.

F1 · acquired: The reporting person was granted 32,145 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 vest, 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, 2027. 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.

F1 · balance_after: The reporting person was granted 32,145 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 vest, 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, 2027. 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.

F1 · ownership.direct: The reporting person was granted 32,145 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 vest, 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, 2027. 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.

F1 · ownership.nature: The reporting person was granted 32,145 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 vest, 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, 2027. 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.

SEC source: 0001286613-26-000025 · form4.xml · nonDerivative · entry 1

Ace Stephen E · CIK 0001699911 · SVP and Chief Human Resources

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 154,265

F1 · shares: The reporting person was granted 4,821 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 vest, 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, 2027. 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.

SEC source: 0001286613-26-000021 · form4.xml · nonDerivative · entry 1

Meyers Brian K · CIK 0001629974 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 227,187

F1 · shares: The reporting person was granted 32,145 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 vest, 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, 2027. 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.

SEC source: 0001286613-26-000023 · form4.xml · nonDerivative · entry 1

SHAW SCOTT M · CIK 0001330739 · Director · CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,167,689

F1 · shares: The reporting person was granted 70,716 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 vest, 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, 2027. 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.

SEC source: 0001286613-26-000020 · form4.xml · nonDerivative · entry 1

LUSTER ALEXANDRA M · CIK 0001331004 · SVP and General Counsel

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 106,264

F1 · shares: The reporting person was granted 4,821 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 vest, 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, 2027. 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.

SEC source: 0001286613-25-000103 · form4.xml · nonDerivative · entry 2

Carney Kevin M · CIK 0001328197 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · By the Kevin M. Carney Living Trust

Disclosed balance after: 24,823

F3 · price: The reported price is a weighted average price. The shares were sold on December 5, 2025 in multiple transactions on the open market at prices ranging from $21.83 to $22.69. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs

SEC source: 0001286613-25-000103 · form4.xml · nonDerivative · entry 1

Carney Kevin M · CIK 0001328197 · Director

10b5-1 filing: No plan indicated

Ownership: Indirect · By the Kevin M. Carney Living Trust

Disclosed balance after: 38,689

F2 · price: The reported price is a weighted average price. The shares were sold on December 4, 2025 in multiple transactions on the open market at prices ranging from $22.57 to $22.71. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs

SEC source: 0001286613-25-000095 · form4.xml · nonDerivative · entry 1

Nyce Chad D · CIK 0001805376 · EVP & Chief Operating Officer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 170,209

F2 · price: The reported price is a weighted average price. The shares were sold on June 6, 2025 in multiple transactions on the open market at prices ranging from $22.91 to $22.95. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

F1 · acquired: The Reporting Person's sale of shares was completed in connection with his financial planning needs.