LINCOLN EDUCATIONAL SERVICES CORP — Director's Dealing 2024

Jun 4, 2024

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK: 0001286613
Period of Report: 2024-05-31

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

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2024-05-31	Common Stock, no par value per share	S	1500	$11.65	Disposed	269809	Direct
2024-05-31	Common Stock, no par value per share	S	4336	$11.66	Disposed	265473	Direct
2024-05-31	Common Stock, no par value per share	S	766	$11.67	Disposed	264707	Direct
2024-05-31	Common Stock, no par value per share	S	105	$11.675	Disposed	264602	Direct
2024-05-31	Common Stock, no par value per share	S	1010	$11.68	Disposed	263592	Direct
2024-05-31	Common Stock, no par value per share	S	200	$11.685	Disposed	263392	Direct
2024-05-31	Common Stock, no par value per share	S	200	$11.69	Disposed	263192	Direct
2024-05-31	Common Stock, no par value per share	S	159	$11.70	Disposed	263033	Direct
2024-05-31	Common Stock, no par value per share	S	10	$11.71	Disposed	263023	Direct
2024-05-31	Common Stock, no par value per share	S	100	$11.73	Disposed	262923	Direct
2024-05-31	Common Stock, no par value per share	S	235	$11.74	Disposed	262688	Direct
2024-05-31	Common Stock, no par value per share	S	2800	$11.77	Disposed	259888	Direct
2024-05-31	Common Stock, no par value per share	S	3413	$11.78	Disposed	256475	Direct
2024-05-31	Common Stock, no par value per share	S	200	$11.785	Disposed	256275	Direct
2024-05-31	Common Stock, no par value per share	S	2934	$11.79	Disposed	253341	Direct
2024-05-31	Common Stock, no par value per share	S	2200	$11.795	Disposed	251141	Direct
2024-05-31	Common Stock, no par value per share	S	300	$11.7975	Disposed	250841	Direct
2024-05-31	Common Stock, no par value per share	S	4300	$11.80	Disposed	246541	Direct
2024-05-31	Common Stock, no par value per share	S	233	$11.81	Disposed	246308	Direct
2024-05-31	Common Stock, no par value per share	S	9	$11.815	Disposed	246299	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Stock, no par value per share	3319534	Indirect

Footnotes

F1: Comprised of (i) 956,223 shares held by Juniper Targeted Opportunities L.P. ("Juniper Targeted Opportunities") and (ii) 2,363,311 shares held by Juniper Targeted Opportunity Fund, L.P. ("Juniper Fund"). Juniper Investment Company, LLC ("Juniper Investment Company") serves as the investment advisor to Juniper Targeted Opportunities and Juniper Fund. Mr. Michas and another individual serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and Juniper Fund and as a result, Mr. Michas shares voting and dispositive power over such shares with Juniper Investment Company and the other individual. Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities and Juniper Fund reflected herein except to the extent of his pecuniary interest therein.