LUSTER ALEXANDRA M 4

What Happened
Alexandra M. Luster, SVP and General Counsel of Lincoln Educational Services Corp. (LINC), was granted 4,821 shares of restricted common stock on February 19, 2026. The shares were reported as acquired at $0.00 (a compensatory award under the Lincoln Educational Services Corporation 2020 Long-Term Incentive Plan) and the Form 4 was filed on February 20, 2026.

Key Details

• Transaction date and filing: Grant dated 2026-02-19; Form 4 filed 2026-02-20 (timely).
• Shares granted: 4,821 restricted common shares; acquisition price reported $0.00.
• Shares owned after transaction: Not specified in the provided filing.
• Vesting and plan: Award under the 2020 Long-Term Incentive Plan. 50% of the grant is time-based; 50% is performance-based.
• Time-based vesting: Time-based half vests, if at all, in substantially equal annual tranches over three years beginning March 1, 2027.
• Performance-based vesting: Performance half vests, if at all, in annual tranches over three years based on company metrics; performance shares can be increased up to 200% of the reported performance-based amount if targets are exceeded.
• No 10b5-1, tax-withholding, or late-filing notes were indicated in the provided text.

Context
This was a compensatory restricted stock award (not a market purchase or sale). Restricted shares are subject to vesting conditions and are not immediately liquid—vesting depends on continued service and/or achievement of performance metrics. Such grants are a common form of executive compensation intended to align management incentives with company performance; they do not by themselves indicate an insider buying or selling for investment reasons.