LINCOLN EDUCATIONAL SERVICES CORP — Director's Dealing 2023

Mar 15, 2023

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK: 0001286613
Period of Report: 2023-03-14

Reporting Person: Juniper Investment Company, LLC (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2023-03-14	Common Stock, no par value per share	S	14000	$5.97	Disposed	0	Indirect

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, no par value per share	3262714	Indirect
Common Stock, no par value per share	2363311	Indirect

Footnotes

F1: The reported price is a weighted average price. The Reporting Persons undertake 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.

F2: As the investment manager of Juniper Multi-Strategy Fund, L.P. ("Juniper Multi-Strategy Fund") Juniper Investment Company, LLC ("Juniper Investment Company") may be deemed to beneficially own the securities held by the Juniper Multi-Strategy Fund. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein.

F3: As the investment manager of Juniper Targeted Opportunities Fund, L.P. ("Juniper Targeted Opportunities Fund"), Juniper Investment Company may be deemed to beneficially own the securities held by the Juniper Targeted Opportunities Fund. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein.

F4: As the investment manager of Juniper Targeted Opportunity Fund, L.P. ("Juniper Fund"), Juniper Investment Company may be deemed to beneficially own the securities held by the Juniper Fund. Juniper Investment Company disclaims beneficial ownership of all the interests reported herein except to the extent of its pecuniary interest therein.