SHAW SCOTT M 4

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.