LINCOLN EDUCATIONAL SERVICES CORP — Director's Dealing 2026

Feb 27, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK: 0001286613
Period of Report: 2026-02-25

Reporting Person: Juniper Investment Company, LLC (Affiliate)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-02-25	Common Stock, no par value per share	S	275000	$34.5478	Disposed	2088311	Indirect

Footnotes

F1: Represents the weighted average per share price with a range from $34.2900 and $35.2100. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

F2: Represents 2,088,311 shares held by Juniper Targeted Opportunity Fund, L.P. (the "Juniper Fund"), of which Juniper Investment Company, LLC ("Juniper Investment") serves as the investment advisor. Mr. Bartholdson and another individual serve as the managing members of Juniper Investment. As a result, Mr. Bartholdson shares voting and dispositive power over such shares with the Juniper Fund, Juniper Investment and the other individual. Mr. Bartholdson disclaims beneficial ownership of such shares reflected herein except to the extent of his pecuniary interest herein.