Hart Steven Weber 4

4 · LINCOLN EDUCATIONAL SERVICES CORP · Filed Jun 24, 2005

Form 4

Period: 2005-06-22

Director

Transactions

Conversion
Common stock, no par value
[F2][F1][F5]
2005-06-22$1.55/sh+60,602$93,824→ 3,183,702 total(indirect: By Trust)
Conversion
Common stock, no par value
[F2]
2005-06-22$1.55/sh+50,000$77,410→ 50,000 total
Exercise of In-Money
Common stock options
[F3][F2][F4]
2005-06-22$1.55/sh−60,602$93,824→ 0 total(indirect: By Trust)
Exercise: $1.55Exp: 2009-06-21→ Common stock (60,602 underlying)
Exercise of In-Money
Common stock options
[F3][F2]
2005-06-22$1.55/sh−50,000$77,410→ 11,500 total
Exercise: $1.55Exp: 2009-06-21→ Common stock (50,000 underlying)

Footnotes (5)

[F1]3,132,100 of these shares are owned by Five Mile River Capital Partners LLC, of which Hart Capital LLC is the managing member. Steven W. Hart is the President and Sole Member of Hart Capital LLC. 60,602 of these shares are owned by the Steven W. Hart 2003 Grantor Retained Annuity Trust, of which Steven W. Hart is co-trustee. Steven W. Hart disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
[F2]Pursuant to a voting agreement with Stonington Partners, Inc. II, Stonington Partners, Inc. II has the power to direct the voting of all the reported securities.
[F3]Currently exercisable.
[F4]These options are owned by the Steven W. Hart 2003 Grantor Retained Annuity Trust, of which Steven W. Hart is co-trustee.
[F5]These shares are owned by the Steven W. Hart 2003 Grantor Retained Annuity Trust, of which Steven W. Hart is co-trustee.

Signature

Marcus D. Wilkinson, by power of attorney|2005-06-24

Documents

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