Lincoln Educational director sells 16,193 shares

LINCOLN EDUCATIONAL SERVICES CORP director James J. Burke Jr. reported selling 16,193 shares of Common Stock in open-market transactions.

Rhea-AI Filing Summary

LINCOLN EDUCATIONAL SERVICES CORP director James J. Burke Jr. reported selling 16,193 shares of Common Stock in open-market transactions. He sold 193 shares on May 14 at a weighted average price of $51.76 per share and 16,000 shares on May 18 at a weighted average price of $49.54 per share. The footnotes state these sales were completed in connection with his financial planning needs and occurred through multiple trades within the stated price ranges. After these transactions, he directly owns 60,005 shares of Lincoln Educational common stock.

Insider Trade Summary

Net Seller: 16,193 shares

Net Sell 2 txns

Insider BURKE JAMES J JR

Role Director

Sold 16,193 shs ($803K)

Type	Security	Shares	Price	Value
Sale	Common Stock	16,000	$49.54	$793K
Sale	Common Stock	193	$51.76	$10K

Holdings After Transaction: Common Stock — 60,005 shares (Direct)

Footnotes (3)

1. F1. The Reporting Person's sale of shares was completed in connection with his financial planning needs
2. F2. The reported price is a weighted average price. The shares were sold on May 14, 2026 in multiple transactions on the open market at prices ranging from $51.72 to $51.79. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.
3. F3. The reported price is a weighted average price. The shares were sold on May 18, 2026 in multiple transactions on the open market at prices ranging from $49.45 to $49.95. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Key Figures

Total shares sold: 16,193 shares Shares sold on May 18, 2026: 16,000 shares at $49.54 Shares sold on May 14, 2026: 193 shares at $51.76 +2 more

5 metrics

Total shares sold 16,193 shares Open-market sales reported in May 2026

Shares sold on May 18, 2026 16,000 shares at $49.54 Weighted average price, open-market sale

Shares sold on May 14, 2026 193 shares at $51.76 Weighted average price, open-market sale

Shares owned after transactions 60,005 shares Direct ownership following May 18, 2026 sale

Net shares sold 16,193 shares Net-sell direction per transaction summary

Key Terms

open-market sale, weighted average price, financial planning needs

3 terms

open-market sale financial

"Sale in open market or private transaction"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

weighted average price financial

"The reported price is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

financial planning needs financial

"sale of shares was completed in connection with his financial planning needs"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Lincoln Educational (LINC) director James J. Burke Jr. report in this Form 4?

He reported selling 16,193 shares of Lincoln Educational Common Stock in open-market transactions. The sales occurred on May 14 and May 18, 2026, and left him with 60,005 directly owned shares afterward.

How many Lincoln Educational (LINC) shares did the director sell and at what prices?

James J. Burke Jr. sold 16,193 shares in total. He sold 193 shares at a weighted average price of $51.76 on May 14, and 16,000 shares at a weighted average price of $49.54 on May 18, 2026.

How many Lincoln Educational (LINC) shares does the director still own after these sales?

After the reported transactions, James J. Burke Jr. directly owns 60,005 shares of Lincoln Educational Common Stock. This figure reflects his position immediately following the May 18, 2026 open-market sale.

Were the Lincoln Educational (LINC) share sales linked to a specific purpose?

Yes. A footnote explains the reporting person’s sale of shares was completed in connection with his financial planning needs. This offers context that the transactions were motivated by personal financial planning rather than disclosed company-specific events.

How were the sale prices for Lincoln Educational (LINC) shares determined in the Form 4?

The prices reported are weighted average prices. Footnotes clarify the shares were sold in multiple open-market trades on each date, within price ranges of $51.72–$51.79 on May 14 and $49.45–$49.95 on May 18, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/18/2026 - 09:32 PM EDT 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
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^*

BURKE JAMES J JR

(Last) (First) (Middle)

C/O LINCOLN EDUCATIONAL SERVICES CORPORA

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)
05/14/2026

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	05/14/2026		S		193	D(1)	$51.76(2)	76,005	D
Common Stock	05/18/2026		S		16,000	D(1)	$49.54(3)	60,005	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's sale of shares was completed in connection with his financial planning needs

2. The reported price is a weighted average price. The shares were sold on May 14, 2026 in multiple transactions on the open market at prices ranging from $51.72 to $51.79. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. The reported price is a weighted average price. The shares were sold on May 18, 2026 in multiple transactions on the open market at prices ranging from $49.45 to $49.95. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

	/s/ James J Burke, Jr.	05/18/2026
	** 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)