4//SEC Filing
Nyce Chad D 4
Accession 0001567619-22-006678
CIK 0001286613other
Filed
Mar 9, 7:00 PM ET
Accepted
Mar 10, 6:28 AM ET
Size
9.3 KB
Accession
0001567619-22-006678
Insider Transaction Report
Form 4
Nyce Chad D
EVP & Chief Operating Officer
Transactions
- Tax Payment
Common Stock
2021-03-15$6.50/sh−11,011$71,572→ 151,871 total - Award
Common Stock
2022-02-23+48,011→ 199,882 total - Award
Common Stock
2021-02-25+42,882→ 162,882 total
Footnotes (5)
- [F1]The Reporting Person was granted 42,882 shares of restricted common stock under the Lincoln Educational Services Corporation's 2020 Long-Term Incentive Plan, which vest one-third on March 15, 2022, one-third on March 15, 2023 and one-third on March 15, 2024, subject to the achievement of annual performance criteria of the preceding year. If an annual target is not met, the shares may vest cumulatively based on the achievement of cumulative economic targets.
- [F2]The award was based on a price per share of $5.83.
- [F3]Consists of shares withheld by the Issuer with respect to income taxes payable by the Reporting Person upon the vesting and delivery of 20% of the shares of restricted stock previously granted by the Issuer on February 20, 2020.
- [F4]The Reporting Person was granted 48,011 shares of restricted common stock under the Lincoln Educational Services Corporation's 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 requiring the Reporting Person's achievement of metrics set by the registrant annually. In both cases, the shares will vest, if at all, in substantially equal annual tranches over three years beginning on March 15, 2023. With respect to the performance -based vesting, if an annual performance metrics are not met in a particular year, the shares may vest cumulatively based on the achievement of cumulative performance targets.
- [F5]The award was based on a price per share of $7.29.
Documents
Issuer
LINCOLN EDUCATIONAL SERVICES CORP
CIK 0001286613
Entity typeother
Related Parties
1- filerCIK 0001805376
Filing Metadata
- Form type
- 4
- Filed
- Mar 9, 7:00 PM ET
- Accepted
- Mar 10, 6:28 AM ET
- Size
- 9.3 KB