Juniper fund sells 106,712 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. On June 3, the fund sold 81,504 shares at a weighted average price of $50.1004 per share. On June 4, it sold an additional 25,208 shares at a weighted average price of $51.1326 per share. After these transactions, the fund continued to hold 1,781,778 shares indirectly. The footnotes state that Lincoln’s board chairman, John A. Bartholdson, shares voting and dispositive power over these shares and disclaims beneficial ownership beyond his pecuniary interest.

Insider Trade Summary

Net Seller: 106,712 shares

Net Sell 2 txns

Insider Juniper Investment Company, LLC

Role Insider

Sold 106,712 shs ($5.37M)

Type	Security	Shares	Price	Value
Sale	Common Stock, no par value per share	25,208	$51.1326	$1.29M
Sale	Common Stock, no par value per share	81,504	$50.1004	$4.08M

Holdings After Transaction: Common Stock, no par value per share — 1,781,778 shares (Indirect, Juniper Targeted Opportunity Fund, L.P.)

Footnotes (3)

1. F1. Represents the weighted average per share price with a range from $50.0400 and $50.3093. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.
2. F2. Represents 1,781,778 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 $50.6000 and $51.2900. 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 on June 3, 2026: 81,504 shares Price on June 3, 2026: $50.1004/share Shares sold on June 4, 2026: 25,208 shares +3 more

6 metrics

Shares sold on June 3, 2026 81,504 shares Open-market sale at weighted average $50.1004

Price on June 3, 2026 $50.1004/share Weighted average, range $50.0400–$50.3093

Shares sold on June 4, 2026 25,208 shares Open-market sale at weighted average $51.1326

Price on June 4, 2026 $51.1326/share Weighted average, range $50.6000–$51.2900

Total shares sold 106,712 shares Combined June 3 and June 4, 2026 open-market sales

Shares held after transactions 1,781,778 shares Indirectly held by Juniper Targeted Opportunity Fund, L.P.

Key Terms

open-market sale, weighted average per share price, beneficial ownership, 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.

dispositive power financial

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

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

pecuniary interest financial

"except to the extent of his pecuniary interest therein"

FAQ

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

What insider activity did Juniper Investment report for Lincoln Educational (LINC)?

Juniper Targeted Opportunity Fund, L.P., advised by Juniper Investment, reported selling Lincoln Educational common stock in two open-market transactions. The fund sold shares on June 3 and June 4, 2026, and continues to hold a large remaining position after these sales.

How many Lincoln Educational (LINC) shares were sold in this Form 4 filing?

The filing shows total sales of 106,712 shares of Lincoln Educational common stock. This includes 81,504 shares sold on June 3, 2026, and 25,208 shares sold on June 4, 2026, all in open-market transactions reported by the Juniper-managed fund.

What prices did the Juniper fund receive for Lincoln Educational (LINC) shares?

The reported sales used weighted average prices. On June 3, 2026, shares sold at a weighted average of $50.1004, within a range of $50.0400–$50.3093. On June 4, 2026, shares sold at a weighted average of $51.1326, within a range of $50.6000–$51.2900.

How many Lincoln Educational (LINC) shares does the Juniper fund still hold?

After the reported June 2026 sales, the Juniper Targeted Opportunity Fund, L.P. continues to hold 1,781,778 shares of Lincoln Educational common stock indirectly. This remaining position is disclosed in the Form 4 as the total held following the latest transaction date.

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

The shares are held by Juniper Targeted Opportunity Fund, L.P., for which Juniper Investment Company, LLC acts as investment adviser. The filing states that chairman John A. Bartholdson shares voting and dispositive power and disclaims beneficial ownership beyond his pecuniary interest.

Were these Lincoln Educational (LINC) insider transactions open-market sales?

Yes. The Form 4 identifies both transactions with code “S” and describes them as open-market or private sales. The reported trades involved Lincoln Educational common stock sold at specified weighted average prices over defined intraday price ranges.

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

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Accepted by SEC EDGAR 06/05/2026 - 03:14 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^*

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)
06/03/2026

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	06/03/2026		S		81,504	D	$50.1004(1)	1,806,986	I	Juniper Targeted Opportunity Fund, L.P.(2)
Common Stock, no par value per share	06/04/2026		S		25,208	D	$51.1326(3)	1,781,778	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 $50.0400 and $50.3093. The reporting person undertakes to provide details of the trades to the Issuer or the Securities and Exchange Commission upon request.

2. Represents 1,781,778 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 $50.6000 and $51.2900. 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	06/05/2026
	Juniper Targeted Opportunity Fund, L.P., By: /s/ John A. Bartholdson, the Managing Member of its general partner	06/05/2026
	** 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)