<SEC-DOCUMENT>0001286613-25-000024.txt : 20250221
<SEC-HEADER>0001286613-25-000024.hdr.sgml : 20250221
<ACCEPTANCE-DATETIME>20250221213622
ACCESSION NUMBER:		0001286613-25-000024
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20250219
FILED AS OF DATE:		20250221
DATE AS OF CHANGE:		20250221

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Meyers Brian K
		CENTRAL INDEX KEY:			0001629974
		ORGANIZATION NAME:           	

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-51371
		FILM NUMBER:		25653982

	MAIL ADDRESS:	
		STREET 1:		C/O LINCOLN EDUCATIONAL SERVICES CORPORA
		STREET 2:		200 EXECUTIVE DR., STE. 340
		CITY:			WEST ORANGE
		STATE:			NJ
		ZIP:			07052

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LINCOLN EDUCATIONAL SERVICES CORP
		CENTRAL INDEX KEY:			0001286613
		STANDARD INDUSTRIAL CLASSIFICATION:	SERVICES-EDUCATIONAL SERVICES [8200]
		ORGANIZATION NAME:           	07 Trade & Services
		IRS NUMBER:				571150621
		STATE OF INCORPORATION:			NJ
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		14 SYLVAN WAY
		STREET 2:		SUITE A
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054
		BUSINESS PHONE:		973-736-9340

	MAIL ADDRESS:	
		STREET 1:		14 SYLVAN WAY
		STREET 2:		SUITE A
		CITY:			PARSIPPANY
		STATE:			NJ
		ZIP:			07054
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0508</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2025-02-19</periodOfReport>

    <issuer>
        <issuerCik>0001286613</issuerCik>
        <issuerName>LINCOLN EDUCATIONAL SERVICES CORP</issuerName>
        <issuerTradingSymbol>LINC</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001629974</rptOwnerCik>
            <rptOwnerName>Meyers Brian K</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>C/O LINCOLN EDUCATIONAL SERVICES CORPORA</rptOwnerStreet1>
            <rptOwnerStreet2>14 SYLVAN WAY, STE A</rptOwnerStreet2>
            <rptOwnerCity>PARSIPPANY</rptOwnerCity>
            <rptOwnerState>NJ</rptOwnerState>
            <rptOwnerZipCode>07054</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isOfficer>true</isOfficer>
            <officerTitle>CFO and Treasurer</officerTitle>
        </reportingOwnerRelationship>
    </reportingOwner>

    <aff10b5One>false</aff10b5One>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-02-19</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>36151</value>
                    <footnoteId id="F1"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>209574</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2025-02-19</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>19466</value>
                    <footnoteId id="F2"/>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>229040</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">The reporting person was granted 36,151 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 best, 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, 2026. 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.</footnote>
        <footnote id="F2">The reporting person was granted 19,466 shares of restricted common stock under the Lincoln Educational Services Corporation 2020 Long-Term Incentive Plan. One-hundred percent of the grant is subject to performance-based vesting under which the shares will vest, if at all, upon the Company's achievement of metrics set by the registrant for 2027.  The shares will vest, if at all, on March 1, 2028 with the number of shares vesting being determined by reference to the percentage of the target achieved.  The number of shares reported above is the maximum number of shares that may become vested.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>/s/ Brian K Meyers</signatureName>
        <signatureDate>2025-02-21</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
