Form 4: Lincoln Educational Services CEO Scott M. Shaw Reports Stock Disposals for Tax Obligations
SEC Filing
CEO Scott M. Shaw disposed of shares of Lincoln Educational Services Corp stock to cover income tax obligations related to vesting restricted stock.
Summary
- On March 1, 2024, Scott M. Shaw, CEO of Lincoln Educational Services Corp, disposed of a total of 99,751 shares of common stock.
- These disposals were executed to cover income tax obligations arising from the vesting and delivery of performance-based and time-based restricted stock granted on February 25, 2021, February 23, 2022, and February 23, 2023.
- The shares were withheld by the issuer at a price of $10 per share.
- Following these transactions, Shaw directly owns 1,053,647 shares of Lincoln Educational Services Corp.
- These transactions were reported on a Form 4 filing with the Securities and Exchange Commission.
Sentiment
Score: 5
Explanation: The document reflects a routine transaction related to executive compensation and tax obligations, with no indication of positive or negative sentiment.
Industry Context
Executive stock transactions are a common occurrence in publicly traded companies, often related to compensation packages and tax planning. The disposal of shares to cover tax obligations is a routine practice.
Key Dates
| Date | Description |
|---|---|
| 02/25/2021 | Date of grant of performance-based restricted stock. |
| 02/23/2022 | Date of grant of performance-based and time-based restricted stock. |
| 02/23/2023 | Date of grant of performance-based and time-based restricted stock. |
| 03/01/2024 | Date of stock disposal for tax obligations. |
| 03/05/2024 | Date of signature on the Form 4 filing. |
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