Lincoln Educational (LINC) COO receives 32,145-share restricted stock award

Rhea-AI Filing Summary

Nyce Chad D reported acquisition or exercise transactions in this Form 4 filing.

Lincoln Educational Services Corp executive Chad D. Nyce, EVP & Chief Operating Officer, received a grant of 32,145 shares of restricted common stock under the company’s 2020 Long-Term Incentive Plan. This award increases his directly owned common stock to 202,354 shares following the transaction.

Half of the grant is subject to time-based vesting in substantially equal annual tranches over three years beginning on March 1, 2027. The other half is performance-based and will vest, if at all, over three years depending on the company’s achievement of preset metrics, with the potential for up to 200% of the performance-based shares to vest if targets are exceeded.

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

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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^*

Nyce Chad D

(Last) (First) (Middle)

C/O LINCOLN EDUCATIONAL SERVICES CORPORA

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)
	EVP & Chief Operating Officer

3. Date of Earliest Transaction (Month/Day/Year)
02/19/2026

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(1)	02/19/2026(1)	(1)	A(1)		32,145(1)	A(1)	$0(1)	202,354(1)	D(1)	(1)

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 granted 32,145 shares of restricted common stock under the Lincoln Educational Services Corporation 2020 Long-Term Incentive Plan. Fifty percent of the grant is subject to time-based vesting while the remaining fifty percent of the grant is subject to performance-based vesting. The shares of restricted common stock subject to performance based vesting will vest, if at all, upon the Company's achievement of metrics set by the registrant and may result in additional shares being issued up to a maximum of 200% of the performance-based shares reported above if the target set is exceeded. As to the time-based shares, the shares will vest, if at all, in substantially equal annual tranches over three years beginning on March 1, 2027. Similarly, as to the performance-based shares, the shares will vest, if at all, in annual tranches over three years with the number of shares vesting being determined based on the percentage of the target achieved.

	/s/ Chad D Nyce	02/20/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transaction did LINC executive Chad Nyce report?

Chad D. Nyce reported acquiring 32,145 shares of restricted common stock. The award was granted under Lincoln Educational Services’ 2020 Long-Term Incentive Plan and consists of both time-based and performance-based vesting components extending over a three-year period.

How many LINC shares does Chad Nyce own after this Form 4 filing?

After the reported award, Chad D. Nyce directly owns 202,354 shares of Lincoln Educational Services common stock. This total reflects the addition of 32,145 restricted shares granted under the company’s 2020 Long-Term Incentive Plan, subject to future vesting conditions.

How are the 32,145 restricted LINC shares granted to Chad Nyce structured?

The 32,145 restricted shares are split evenly between time-based and performance-based vesting. Time-based shares vest in substantially equal annual installments over three years starting March 1, 2027, while performance-based shares vest over three years depending on company metrics.

What performance upside exists in Chad Nyce’s LINC restricted stock award?

The performance-based portion of the award may vest up to 200% of the reported performance-based shares. Actual vesting depends on the company achieving or exceeding performance metrics set by Lincoln Educational Services, which can increase the number of shares that ultimately vest.

When will Chad Nyce’s time-based restricted LINC shares begin vesting?

The time-based restricted shares will begin vesting on March 1, 2027. They are scheduled to vest, if conditions are met, in substantially equal annual tranches over a three-year period, aligning the executive’s compensation with longer-term company performance.

Over what period will the performance-based LINC restricted shares vest for Chad Nyce?

The performance-based restricted shares are scheduled to vest in annual tranches over three years. Vesting depends on the percentage of performance targets achieved, and if targets are exceeded, up to 200% of the performance-based shares can ultimately vest.