Lincoln Educational (LINC) director receives $110K restricted stock grant

Rhea-AI Filing Summary

Carney Kevin M reported acquisition or exercise transactions in this Form 4 filing.

LINCOLN EDUCATIONAL SERVICES CORP director Kevin M. Carney received a restricted stock award of 2,495 common shares, valued at $110,000 on the grant date. The award is compensation, not a market purchase, and the restricted shares vest on the first anniversary of the grant date.

After this grant, Carney directly holds 5,711 common shares. Separately, 24,823 common shares are held indirectly by the Kevin M. Carney Living Trust, which is shown as an indirect ownership position in the filing.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Carney Kevin M

Role null

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	2,495	$44.10	$110K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 5,711 shares (Direct, null); Common Stock — 24,823 shares (Indirect, By the Kevin M. Carney Living Trust)

Footnotes (1)

1. [object Object]

Key Figures

Restricted stock grant: 2,495 shares Grant value: $110,000 Grant price per share: $44.10/share +2 more

5 metrics

Restricted stock grant 2,495 shares Grant of restricted common stock to director

Grant value $110,000 Value of restricted stock on grant date

Grant price per share $44.10/share Restricted stock valuation per share

Direct holdings after grant 5,711 shares Common stock held directly by Carney

Indirect trust holdings 24,823 shares Common stock held by Kevin M. Carney Living Trust

Key Terms

Restricted Stock, Living Trust, Grant, award, or other acquisition

3 terms

Restricted Stock financial

"Grant of Restricted Stock valued at $110,000 on the date of grant."

Shares granted to an individual that carry limits on transfer or sale until certain conditions are met, such as staying with the company for a set time or hitting performance targets. Think of them as a locked gift that gradually opens; for investors they matter because they affect how many shares may enter the market later, signal management incentives and potential dilution, and reveal confidence in future company performance.

Living Trust financial

"By the Kevin M. Carney Living Trust"

Grant, award, or other acquisition financial

"transaction_code_description": "Grant, award, or other acquisition""

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Carney Kevin M

(Last) (First) (Middle)

C/O LINCOLN EDUCATIONAL SERVICES CORP

14 SYLVAN WAY, STE. A

(Street)

PARSIPPANY NEW JERSEY 07054

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
LINCOLN EDUCATIONAL SERVICES CORP [ LINC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/07/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	05/07/2026		A		2,495	A	$44.1(1)	5,711	D
Common Stock								24,823	I	By the Kevin M. Carney Living Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Grant of Restricted Stock valued at $110,000 on the date of grant. These restricted shares vest on the first anniversary of the grant date.

	/s/ Kevin M Carney	05/08/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did LINC director Kevin M. Carney report?

Kevin M. Carney reported receiving a grant of 2,495 shares of Lincoln Educational Services common stock as restricted stock. The award is classified as a compensation-related grant, not an open-market purchase, and is valued at $110,000 on the grant date according to the filing.

How is the restricted stock grant to LINC’s Kevin M. Carney structured?

The grant consists of 2,495 restricted shares of common stock valued at $110,000 on the grant date. These restricted shares vest on the first anniversary of the grant date, meaning Carney must remain eligible through that one-year period to receive the full benefit.

What are Kevin M. Carney’s direct holdings in LINC after this Form 4?

Following the restricted stock grant, Kevin M. Carney directly holds 5,711 shares of Lincoln Educational Services common stock. This direct position reflects his shares in his own name and excludes additional shares held indirectly through the Kevin M. Carney Living Trust.

What indirect LINC holdings are reported for the Kevin M. Carney Living Trust?

The filing shows 24,823 shares of Lincoln Educational Services common stock held indirectly by the Kevin M. Carney Living Trust. These shares are reported as an indirect ownership position, separate from Carney’s directly held 5,711 shares following the latest restricted stock grant.

Was the LINC insider transaction a market buy or sell?

The reported transaction is a grant of restricted stock, not a market buy or sell. It is coded as a grant, award, or other acquisition and represents equity-based compensation, rather than an open-market trade executed at the holder’s discretion.