LINC

SEC source: 0001286613-25-000091 · form4.xml · nonDerivative · entry 1

Rose Carlton · CIK 0001821282 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 15,295

F2 · price: The reported price is a weighted average price. The shares were sold on May 30, 2025 in multiple transactions on the open market at prices ranging from $23.42 to $23.81. 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: 0001286613-25-000087 · form4.xml · nonDerivative · entry 1

Pryor Felecia J. · CIK 0001772874 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 14,306

F2 · price: The reported price is a weighted average price. The shares were sold on May 29, 2025 in multiple transactions on the open market at prices ranging from $23.22 to $23.72. 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: 0001344676-25-000034 · ownership.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: 46,293

F1 · ownership.nature: Reflects the acquisition by the 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. The transferor previously reported his beneficial ownership separately.

SEC source: 0001286613-25-000084 · form4.xml · nonDerivative · entry 2

BURKE JAMES J JR · CIK 0001091323 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 82,230

F2 · price: The reported price is a weighted average price. The shares were sold on May 16, 2025 in multiple transactions on the open market at prices ranging from $21.40 to $21.44. 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.

SEC source: 0001286613-25-000084 · form4.xml · nonDerivative · entry 1

BURKE JAMES J JR · CIK 0001091323 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 87,230

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

SEC source: 0001286613-25-000073 · form4.xml · nonDerivative · entry 1

BURKE JAMES J JR · CIK 0001091323 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 97,230

F1 · price: Grant of Restricted Stock valued at $60,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-25-000067 · form4.xml · nonDerivative · entry 1

Newhart Marta · CIK 0002028438 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,564

F1 · price: Grant of Restricted Stock valued at $60,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-25-000079 · form4.xml · nonDerivative · entry 1

Bartholdson John A. · CIK 0001382909 · Director · Chairman

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 208,943

F1 · price: Award of 5,628 shares of Restricted Stock valued at $105,000 on the date of award based on a price of $18.66 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: 0001286613-25-000071 · form4.xml · nonDerivative · entry 1

Carney Kevin M · CIK 0001328197 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 49,509

F1 · price: Grant of Restricted Stock valued at $60,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-25-000075 · form4.xml · nonDerivative · entry 1

Plater Michael A · CIK 0001534414 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 34,824

F1 · price: Grant of Restricted Stock valued at $60,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-25-000077 · form4.xml · nonDerivative · entry 1

Young Sylvia Jean · CIK 0001966642 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 20,656

F1 · price: Grant of Restricted Stock valued at $60,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-25-000065 · form4.xml · nonDerivative · entry 1

CABRAL ANNA ESCOBEDO · CIK 0001627381 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 7,564

F1 · price: Grant of Restricted Stock valued at $60,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-25-000069 · form4.xml · nonDerivative · entry 1

Rose Carlton · CIK 0001821282 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 45,295

F1 · price: Grant of Restricted Stock valued at $60,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001286613-25-000063 · form4.xml · nonDerivative · entry 1

Pryor Felecia J. · CIK 0001772874 · Director

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 34,306

F1 · price: Grant of Restricted Stock valued at $60,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

SEC source: 0001019056-25-000154 · ownership.xml · nonDerivative · entry 1

Bartholdson John A. · CIK 0001382909 · Director · Chairman

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 0

F1 · price: Represents the weighted average per share price with a range from $14.6900 and $14.9500. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F2 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-25-000150 · ownership.xml · nonDerivative · entry 1

Bartholdson John A. · CIK 0001382909 · Director · Chairman

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 0

F1 · price: Represents the weighted average per share price with a range from $14.6900 and $14.9500. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F2 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-25-000143 · ownership.xml · nonDerivative · entry 3

Bartholdson John A. · CIK 0001382909 · Director · Chairman

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 36,560

F3 · price: Represents the weighted average per share price with a range from $15.2500 and $15.6200. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-25-000143 · ownership.xml · nonDerivative · entry 2

Bartholdson John A. · CIK 0001382909 · Director · Chairman

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 69,579

F2 · price: Represents the weighted average per share price with a range from $15.5000 and $15.7100. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-25-000143 · ownership.xml · nonDerivative · entry 1

Bartholdson John A. · CIK 0001382909 · Director · Chairman

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 130,522

F1 · price: Represents the weighted average per share price with a range from $15.4500 and $15.6200. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-25-000115 · ownership.xml · nonDerivative · entry 2

Bartholdson John A. · CIK 0001382909 · Director · Chairman

Juniper Investment Company, LLC · CIK 0001794034 · Director · Chairman

Juniper Targeted Opportunities, LP · CIK 0001680619 · Director · Chairman

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 150,000

F2 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001286613-25-000032 · 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: 176,409

F1 · 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 February 23, 2022, February 23, 2023 and February 22, 2024.

SEC source: 0001286613-25-000033 · 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: 149,444

F1 · 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 February 23, 2022, February 23, 2023 and February 22, 2024.

SEC source: 0001286613-25-000031 · form4.xml · nonDerivative · entry 1

Meyers Brian K · CIK 0001629974 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 195,042

F1 · 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 February 23, 2022, February 23, 2023 and February 22, 2024.

SEC source: 0001286613-25-000030 · form4.xml · nonDerivative · entry 1

SHAW SCOTT M · CIK 0001330739 · Director · CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,096,973

F1 · 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 February 23, 2022, February 23, 2023 and February 22, 2024.

SEC source: 0001286613-25-000034 · 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: 101,443

F1 · 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 February 23, 2022, February 23, 2023 and February 22, 2024.

SEC source: 0001019056-25-000115 · ownership.xml · nonDerivative · entry 1

Bartholdson John A. · CIK 0001382909 · Director · Chairman

Juniper Investment Company, LLC · CIK 0001794034 · Director · Chairman

Juniper Targeted Opportunities, LP · CIK 0001680619 · Director · Chairman

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 201,506

F1 · price: Represents the weighted average per share price with a range from $18.0000 and $18.3000. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F2 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001286613-25-000022 · 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: 200,286

F2 · shares: The reporting person was granted 19,466 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.

SEC source: 0001286613-25-000022 · 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: 180,820

F1 · shares: The reporting person was granted 36,151 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.

SEC source: 0001286613-25-000020 · 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: 155,405

F1 · shares: The reporting person was granted 6,952 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.

SEC source: 0001286613-25-000024 · form4.xml · nonDerivative · entry 2

Meyers Brian K · CIK 0001629974 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 229,040

F2 · shares: The reporting person was granted 19,466 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.

SEC source: 0001286613-25-000024 · form4.xml · nonDerivative · entry 1

Meyers Brian K · CIK 0001629974 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 209,574

F1 · shares: The reporting person was granted 36,151 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.

SEC source: 0001286613-25-000023 · form4.xml · nonDerivative · entry 2

SHAW SCOTT M · CIK 0001330739 · Director · CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,176,005

F2 · shares: 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.

SEC source: 0001286613-25-000023 · form4.xml · nonDerivative · entry 1

SHAW SCOTT M · CIK 0001330739 · Director · CEO

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 1,137,073

F1 · shares: 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.

SEC source: 0001286613-25-000021 · 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: 107,074

F1 · shares: The reporting person was granted 6,952 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.

SEC source: 0001019056-24-000347 · ownership.xml · nonDerivative · entry 3

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 425,544

F3 · price: Represents the weighted average per share price with a range from $16.0600 and $16.7700. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-24-000347 · ownership.xml · nonDerivative · entry 2

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 486,833

F2 · price: Represents the weighted average per share price with a range from $16.0400 and $16.2450. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-24-000347 · ownership.xml · nonDerivative · entry 1

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 546,833

F1 · price: Represents the weighted average per share price with a range from $16.1000 and $16.1600. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-24-000340 · ownership.xml · nonDerivative · entry 3

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 562,660

F3 · price: Represents the weighted average per share price with a range from $16.1200 and $16.3000. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-24-000340 · ownership.xml · nonDerivative · entry 2

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 599,694

F2 · price: Represents the weighted average per share price with a range from $16.2500 and $16.5100. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-24-000340 · ownership.xml · nonDerivative · entry 1

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 600,878

F1 · price: Represents the weighted average per share price with a range from $16.5000 and $16.5300. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-24-000337 · ownership.xml · nonDerivative · entry 3

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 605,005

F3 · price: Represents the weighted average per share price with a range from $16.5000 and $16.7200. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-24-000337 · ownership.xml · nonDerivative · entry 2

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 665,005

F2 · price: Represents the weighted average per share price with a range from $16.5000 and $16.5050. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001286613-24-000065 · form4.xml · nonDerivative · entry 1

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

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 144,669

F2 · price: The reported price is a weighted average price. The shares were sold on November 25, 2024 in multiple transactions on the open market at prices ranging from $16.37 to $16.57. 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: 0001019056-24-000337 · ownership.xml · nonDerivative · entry 1

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 669,926

F1 · price: Represents the weighted average per share price with a range from $16.5000 and $16.5750. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-24-000335 · ownership.xml · nonDerivative · entry 3

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 704,923

F3 · price: Represents the weighted average per share price with a range from $16.1500 and $16.2100. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-24-000335 · ownership.xml · nonDerivative · entry 2

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 730,299

F2 · price: Represents the weighted average per share price with a range from $15.5000 and $15.7650. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001019056-24-000335 · ownership.xml · nonDerivative · entry 1

Juniper Investment Company, LLC · CIK 0001794034 · 10% owner

Juniper Targeted Opportunities, LP · CIK 0001680619 · 10% owner

Joint disclosure: these amounts are not allocated separately to each reporting owner.

10b5-1 filing: No plan indicated

Ownership: Indirect · Juniper Targeted Opportunities L.P.

Disclosed balance after: 858,999

F1 · price: Represents the weighted average per share price with a range from $15.5000 and $15.5250. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F4 · ownership.nature: As the investment manager of Juniper Targeted Opportunities, L.P. ("Juniper Targeted Opportunities"), Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein. Mr. John A. Bartholdson and Mr. Alexis P. Michas serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and as a result, Mr. Bartholdson and Mr. Michas share voting and dispositive power over such shares with Juniper Investment Company. Each of Mr. Bartholdson and Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities reflected herein except to the extent of his pecuniary interest therein.

SEC source: 0001286613-24-000062 · form4.xml · nonDerivative · entry 2

Meyers Brian K · CIK 0001629974 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 173,423

F3 · price: The reported price is a weighted average price. The shares were sold on November 19, 2024 in multiple transactions on the open market at prices ranging from $14.83 to $15.16. 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: 0001286613-24-000062 · form4.xml · nonDerivative · entry 1

Meyers Brian K · CIK 0001629974 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 226,323

F2 · price: The reported price is a weighted average price. The shares were sold on November 18, 2024 in multiple transactions on the open market at prices ranging from $15.10 to $15.46. 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: 0001286613-24-000058 · form4.xml · nonDerivative · entry 3

Meyers Brian K · CIK 0001629974 · CFO and Treasurer

10b5-1 filing: No plan indicated

Ownership: Direct

Disclosed balance after: 233,810

F4 · price: The reported price is a weighted average price. The shares were sold on November 15, 2024 in multiple transactions on the open market at prices ranging from $15.12 to $15.45. 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.