Form 4 for LINC LINCOLN EDUCATIONAL SERVICES CORP
Accepted 2022-03-10 00:00:00 ET · period of report 2021-02-25 · accession 0001567619-22-006678 · SEC index · Original document
Summary rows
Aggregated the way they appear in lists: one row per insider, transaction code and security table.
| X | Filed | Traded | Ticker | Insider | Title | Type | Price | Qty | Owned | ΔOwn | Value |
|---|---|---|---|---|---|---|---|---|---|---|---|
| M | 2022-03-10 | 2021-02-25+ | LINC | Nyce Chad D | EVP, Chief Innovation Off | A - Grant | $0.00 | +90.9K | 199.9K | +83% | $0 |
| 2022-03-10 | 2021-03-15 | LINC | Nyce Chad D | EVP, Chief Innovation Off | F - Tax | $6.50 | -11.0K | 151.9K | -7% | -$71.6K |
Purchase Sale Sale after option exercise All abbreviations
Every reported transaction
| # | Table | Security | Date | Code | A/D | Shares | Price | Owned after | Own | Exercise / expiry | Underlying | Footnotes |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Common | Common Stock | 2021-02-25 | A | A | 42,882 | $0.00 | 162,882 | D | — | — | (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. |
| 2 | Common | Common Stock | 2022-02-23 | A | A | 48,011 | $0.00 | 199,882 | D | — | — | (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. |
| 3 | Common | Common Stock | 2021-03-15 | F | D | 11,011 | $6.50 | 151,871 | D | — | — | (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. |