LINCOLN EDUCATIONAL SERVICES CORP — Director's Dealing 2021

Mar 1, 2021

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK: 0001286613
Period of Report: 2021-02-25

Reporting Person: SHAW SCOTT M (Director, CEO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2021-02-25	Common Stock	A	85763	—	Acquired	891993	Direct
2021-02-28	Common Stock	F	12665	$5.78	Disposed	879328	Direct

Footnotes

F1: The reporting person was granted 85,763 shares of restricted common stock under the Lincoln Educational Services Corporation's 2020 Long-Term Incentive Plan, which shall vest one-third on March 15, 2022, one-third on March 15, 2023 and one-third on March 15, 2024, subject to the achievement of annual performance criteria of the preceding year. If an annual target is not met, the shares may vest cumulatively based on the achievement of cumulative economic targets.

F2: Consists of shares withheld by the Issuer with respect to income taxes payable by the Reporting Person upon the vesting and delivery of one-third of the shares of restricted stock granted by the Issuer on February 28, 2019.