Lincoln Educational Services Corp (LINC) director sells trust-held shares

Rhea-AI Filing Summary

Lincoln Educational Services Corp director Kevin M. Carney reported selling common stock held in his living trust. On December 4, 2025, the trust sold 7,604 shares at a weighted average price of $22.64, and on December 5, 2025, it sold 13,866 shares at a weighted average price of $22.18.

The filing notes these sales were completed in connection with his financial planning needs. After the transactions, the trust holds 24,823 shares, and Carney also directly owns 3,216 shares. Each weighted average price reflects multiple open-market trades within disclosed price ranges.

Insider Trade Summary

Net Seller: 21,470 shares ($479,702)

Net Sell 3 txns

Insider Carney Kevin M

Role Director

Sold 21,470 shs ($480K)

Type	Security	Shares	Price	Value
Sale	Common Stock	13,866	$22.18	$308K
Sale	Common Stock	7,604	$22.64	$172K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 24,823 shares (Indirect, By the Kevin M. Carney Living Trust); Common Stock — 3,216 shares (Direct)

Footnotes (1)

1. The Reporting Person's sale of shares was completed in connection with his financial planning needs The reported price is a weighted average price. The shares were sold on December 4, 2025 in multiple transactions on the open market at prices ranging from $22.57 to $22.71. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote. The reported price is a weighted average price. The shares were sold on December 5, 2025 in multiple transactions on the open market at prices ranging from $21.83 to $22.69. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

Form 4 Insider Transactions: What Each Field Means →

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Carney Kevin M

(Last) (First) (Middle)

C/O LINCOLN EDUCATIONAL SERVICES CORP

14 SYLVAN WAY, STE. A

(Street)

PARSIPPANY NJ 07054

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LINCOLN EDUCATIONAL SERVICES CORP [ LINC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/04/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/04/2025		S		7,604	D(1)	$22.64(2)	38,689	I	By the Kevin M. Carney Living Trust
Common Stock	12/05/2025		S		13,866	D(1)	$22.18(3)	24,823	I	By the Kevin M. Carney Living Trust
Common Stock								3,216	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The Reporting Person's sale of shares was completed in connection with his financial planning needs

2. The reported price is a weighted average price. The shares were sold on December 4, 2025 in multiple transactions on the open market at prices ranging from $22.57 to $22.71. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

3. The reported price is a weighted average price. The shares were sold on December 5, 2025 in multiple transactions on the open market at prices ranging from $21.83 to $22.69. The reporting person hereby undertakes to provide to the Issuer or the Staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote.

	/s/ Kevin M. Carney	12/05/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider stock transaction did Lincoln Educational Services (LINC) report?

The company reported that director Kevin M. Carney sold shares of Lincoln Educational Services Corp common stock held in the Kevin M. Carney Living Trust on December 4 and 5, 2025.

How many Lincoln Educational (LINC) shares did Kevin M. Carney sell?

On December 4, 2025, the living trust sold 7,604 shares of common stock, and on December 5, 2025, it sold an additional 13,866 shares.

At what prices were the LINC shares sold by the Kevin M. Carney Living Trust?

The reported prices are weighted averages. On December 4, 2025, shares were sold at a weighted average price of $22.64, based on trades between $22.57 and $22.71. On December 5, 2025, the weighted average price was $22.18, from trades between $21.83 and $22.69.

How many LINC shares does Kevin M. Carney still own after these sales?

Following the reported transactions, the Kevin M. Carney Living Trust beneficially owns 24,823 shares of Lincoln Educational common stock, and Carney also directly owns 3,216 shares.

Why did Kevin M. Carney sell Lincoln Educational (LINC) shares according to the filing?

The explanation states that the reporting person's sale of shares was completed in connection with his financial planning needs.

What does the weighted average sale price disclosure mean for the LINC trades?

For each sale date, the filing reports a single weighted average price and notes that the shares were sold in multiple open-market transactions within a stated price range, with detailed trade information available upon request to the issuer or the SEC staff.