SHAW SCOTT M 4

4 · LINCOLN EDUCATIONAL SERVICES CORP · Filed Feb 20, 2026

AI-generated summary of this filing

Updated Feb 20, 2026

Lincoln Educational (LINC) CEO Scott Shaw Receives Stock Award

What Happened

Scott M. Shaw, CEO and Director of Lincoln Educational Services Corp (LINC), was granted 70,716 shares of restricted common stock on February 19, 2026. The grant was reported on a Form 4 filed February 20, 2026. The reported acquisition price is $0.00 (i.e., the award was granted, not purchased).

Key Details

Transaction date: 2026-02-19; Form 4 filed: 2026-02-20 (timely filing).
Shares granted: 70,716 restricted common shares; reported acquisition price: $0.00; total reported value: $0.
Vesting: 50% time-based, 50% performance-based.
- Time-based portion vests, if at all, in substantially equal annual tranches over three years beginning March 1, 2027.
- Performance-based portion vests, if at all, in annual tranches over three years based on achievement of company-set metrics; performance shares may be increased up to 200% of the performance-based portion if targets are exceeded.
Shares owned after the transaction: not reported on the Form 4.
No indication of a 10b5-1 plan, tax withholding, or cashless sale in the filing.

Context

This is an award/grant (transaction code A), not a market purchase or sale — it reflects executive compensation rather than an immediate bullish or bearish trading signal.
Performance-based awards depend on future metrics and could result in fewer or (if targets are exceeded) more shares than initially granted; time-based shares vest over multiple years, aligning executive incentives with long-term performance.

Form 4

Period: 2026-02-19

DirectorCEO

Transactions

Footnotes (1)

[F1]The reporting person was granted 70,716 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.

Signature

/s/ Scott M. Shaw|2026-02-20

1 file