LINCOLN EDUCATIONAL SERVICES CORP — Director's Dealing 2026

Mar 4, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK: 0001286613
Period of Report: 2026-03-01

Reporting Person: Ace Stephen E (N/A)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-03-01	Common Stock	A	833	—	Acquired	155098	Direct
2026-03-01	Common Stock	F	5019	$36.24	Disposed	150079	Direct

Footnotes

F1: 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.

F2: 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.