Juniper fund sells 48,812 Lincoln Educational shares

Juniper Targeted Opportunity Fund, L.P., advised by Juniper Investment Company, LLC, reported open-market sales of Lincoln Educational Services common stock.

Rhea-AI Filing Summary

Juniper Targeted Opportunity Fund, L.P., advised by Juniper Investment Company, LLC, reported open-market sales of Lincoln Educational Services common stock. The fund sold 11,812 shares on June 11, 2026 at an average price of about $47.8657 per share and 37,000 shares on June 12, 2026 at about $46.8841 per share. After these transactions, the fund held 1,732,966 shares indirectly. A footnote states that Lincoln’s Chairman, John A. Bartholdson, shares voting and dispositive power over these shares through Juniper Investment but disclaims beneficial ownership except to the extent of his pecuniary interest.

Insider Trade Summary

Net Seller: 48,812 shares

Net Sell 2 txns

Insider Juniper Investment Company, LLC

Role Insider

Sold 48,812 shs ($2.30M)

Type	Security	Shares	Price	Value
Sale	Common Stock, no par value per share	37,000	$46.8841	$1.73M
Sale	Common Stock, no par value per share	11,812	$47.8657	$565K

Holdings After Transaction: Common Stock, no par value per share — 1,732,966 shares (Indirect, Juniper Targeted Opportunity Fund, L.P.)

Footnotes (3)

1. F1. Represents the weighted average per share price with a range from $47.6500 and $48.1800. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.
2. F2. Represents 1,732,966 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. John A. Bartholdson, the Chairman of the Board of the Issuer, 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 therein.
3. F3. Represents the weighted average per share price with a range from $46.2200 and $48.0300. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

Key Figures

Shares sold 2026-06-11: 11,812 shares Price 2026-06-11: $47.8657 per share Shares sold 2026-06-12: 37,000 shares +3 more

6 metrics

Shares sold 2026-06-11 11,812 shares Open-market sale of common stock at ~$47.8657 per share

Price 2026-06-11 $47.8657 per share Weighted average sale price for 11,812 shares

Shares sold 2026-06-12 37,000 shares Open-market sale of common stock at ~$46.8841 per share

Price 2026-06-12 $46.8841 per share Weighted average sale price for 37,000 shares

Net shares sold 48,812 shares Total net open-market sales reported in this Form 4

Shares held after trades 1,732,966 shares Indirect holdings by Juniper Targeted Opportunity Fund, L.P. after transactions

Key Terms

open-market sale, weighted average per share price, beneficial ownership, voting and dispositive power, +1 more

5 terms

open-market sale financial

"transaction_action": "open-market sale"

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 per share price financial

"Represents the weighted average per share price with a range"

beneficial ownership financial

"Mr. Bartholdson disclaims beneficial ownership of such shares"

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

voting and dispositive power financial

"Mr. Bartholdson shares voting and dispositive power over such shares"

indirect ownership financial

""ownership_type": "indirect""

FAQ

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

What insider transactions did Juniper report in Lincoln Educational Services (LINC)?

Juniper Targeted Opportunity Fund, L.P. reported two open-market sales of Lincoln Educational Services common stock totaling 48,812 shares. The trades occurred on June 11 and 12, 2026, and were disclosed in a Form 4 filed with the Securities and Exchange Commission.

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

The Juniper fund sold 11,812 shares at about $47.8657 per share on June 11, 2026, and 37,000 shares at about $46.8841 per share on June 12, 2026. Both transactions were reported as open-market sales of common stock.

How many Lincoln Educational (LINC) shares does Juniper hold after these sales?

After the reported transactions, Juniper Targeted Opportunity Fund, L.P. holds 1,732,966 shares of Lincoln Educational Services common stock. These shares are reported as being held indirectly, with Juniper Investment Company, LLC acting as the investment advisor to the fund.

Who controls the Lincoln Educational (LINC) shares held by the Juniper fund?

The filing states that Juniper Targeted Opportunity Fund, L.P. holds the shares, with Juniper Investment Company, LLC as investment advisor. Lincoln’s Chairman, John A. Bartholdson, and another individual share voting and dispositive power over the shares through Juniper Investment.

Does John A. Bartholdson personally own the Juniper-held Lincoln Educational (LINC) shares?

According to the footnote, John A. Bartholdson disclaims beneficial ownership of the Juniper-held shares, except to the extent of his pecuniary interest. He shares voting and dispositive power over those shares through his role as a managing member of Juniper Investment Company, LLC.

Were the reported Lincoln Educational (LINC) insider trades single prices or ranges?

The Form 4 notes that the reported per-share prices are weighted averages of multiple trades within ranges. For example, one transaction reflects trades between $47.65 and $48.18. The filer offers to provide detailed trade breakdowns to the issuer or SEC upon request.

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

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Accepted by SEC EDGAR 06/15/2026 - 04:07 PM 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^*

Juniper Investment Company, LLC

(Last) (First) (Middle)

555 MADISON AVENUE

24TH FLOOR

(Street)

NEW YORK NEW YORK 10022-3315

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/11/2026

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, no par value per share	06/11/2026		S		11,812	D	$47.8657(1)	1,781,778	I	Juniper Targeted Opportunity Fund, L.P.(2)
Common Stock, no par value per share	06/12/2026		S		37,000	D	$46.8841(3)	1,732,966	I	Juniper Targeted Opportunity Fund, L.P.(2)

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. Represents the weighted average per share price with a range from $47.6500 and $48.1800. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

2. Represents 1,732,966 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. John A. Bartholdson, the Chairman of the Board of the Issuer, 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 therein.

3. Represents the weighted average per share price with a range from $46.2200 and $48.0300. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

	Juniper Investment Company, LLC, By: /s/ John A. Bartholdson, its Managing Member	06/15/2026
	Juniper Targeted Opportunity Fund, L.P., By: /s/ John A. Bartholdson, the Managing Member of its general partner	06/15/2026
	** 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)