LINC SVP Luster reports award, tax share withholding

Lincoln Educational Services senior vice president and general counsel Alexandra M. Luster reported routine equity compensation activity.

Rhea-AI Filing Summary

Lincoln Educational Services senior vice president and general counsel Alexandra M. Luster reported routine equity compensation activity. She acquired 833 shares of common stock at $0.00 per share as a grant under the 2020 Long-Term Incentive Plan, tied to performance-based restricted stock granted on February 19, 2025 that vested above target. She also disposed of 4,741 shares at $36.24 per share in a tax-withholding transaction related to the vesting and delivery of performance-based and time-based restricted stock awards previously granted on several dates, leaving her with 102,356 directly owned shares of common stock.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider LUSTER ALEXANDRA M

Role SVP and General Counsel

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	833	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	4,741	$36.24	$172K

Holdings After Transaction: Common Stock — 102,356 shares (Direct)

Footnotes (2)

1. 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.
2. 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.

FAQ

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What insider transactions did LINC executive Alexandra Luster report on this Form 4?

Alexandra M. Luster reported one equity award acquisition and one tax-withholding share disposition. She received 833 common shares at no cost and 4,741 shares were withheld to cover income taxes tied to multiple restricted stock vestings.

How many Lincoln Educational Services (LINC) shares does Alexandra Luster now hold?

After the reported transactions, Alexandra M. Luster directly owns 102,356 shares of Lincoln Educational Services common stock. This reflects the net result of the 833-share performance-based award and the 4,741 shares withheld for tax obligations on vesting restricted stock.

Was Alexandra Luster’s LINC share disposal an open-market sale?

No, the 4,741-share disposal was a tax-withholding transaction, not an open-market sale. The shares were withheld by the company to satisfy income tax liabilities from vesting performance-based and time-based restricted stock awards granted between 2023 and 2026.

What triggered Alexandra Luster’s new 833-share LINC stock award?

The 833-share award was issued under the 2020 Long-Term Incentive Plan after performance metrics exceeded target. It relates to the first tranche vesting of a previously reported performance-based restricted stock grant made on February 19, 2025, rewarding above-target performance.

Which prior grants are tied to the tax-withholding shares for LINC’s Alexandra Luster?

The 4,741 withheld shares relate to taxes owed on vesting of performance-based shares and time-based restricted stock granted on February 23, 2023, February 22, 2024, February 19, 2025, and March 1, 2026, under Lincoln Educational Services’ equity programs.

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Accepted by SEC EDGAR 03/03/2026 - 08:21 PM EST Learn about SEC filing dates

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
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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^*

LUSTER ALEXANDRA M

(Last) (First) (Middle)

C/O LINCOLN EDUCATIONAL SERVICES CORP

14 SYLVAN WAY, STE A

(Street)

PARSIPPANY NJ 07054

(City) (State) (Zip)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP and General Counsel

3. Date of Earliest Transaction (Month/Day/Year)
03/01/2026

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

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

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

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	03/01/2026		A		833(1)	A	$0	107,097	D
Common Stock	03/01/2026		F		4,741(2)	D	$36.24	102,356	D

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. 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.

2. 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.

	/s/ Alexandra M Luster	03/03/2026
	** 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.
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