Form 4: Lincoln Educational Services EVP Chad D. Nyce Reports Acquisition of Restricted Common Stock

Chad D. Nyce, EVP & Chief Operating Officer of Lincoln Educational Services Corp, reports the acquisition of restricted common stock under the company's 2020 Long-Term Incentive Plan.

Summary

• Chad D. Nyce, EVP & Chief Operating Officer of Lincoln Educational Services Corp, filed a Form 4 on February 21, 2025, reporting changes in beneficial ownership.
• On February 19, 2025, Nyce acquired 36,151 shares of restricted common stock under the Lincoln Educational Services Corporation 2020 Long-Term Incentive Plan.
• 50% of these shares are subject to time-based vesting, and the other 50% are subject to performance-based vesting.
• The time-based shares will vest in substantially equal annual tranches over three years beginning on March 1, 2026.
• The performance-based shares will vest in annual tranches over three years, contingent on the company's achievement of specific metrics.
• Nyce also acquired 19,466 shares of restricted common stock under the same plan, which are 100% subject to performance-based vesting based on the company's achievement of metrics set for 2027.
• These shares will vest, if at all, on March 1, 2028, based on the percentage of the target achieved.
• The maximum number of shares that may vest is reported.

Sentiment

Score: 7

Explanation: The document reflects a standard executive compensation practice, suggesting confidence in the executive's role and the company's future performance. The sentiment is neutral to positive.

Positives

• The grant of restricted stock aligns the executive's interests with the company's long-term performance.
• The vesting schedule encourages long-term commitment and achievement of company goals.

Risks

• The performance-based vesting is contingent on the company achieving specific metrics, which may not be met.
• The actual number of shares that vest could be lower than the reported maximum if performance targets are not fully achieved.

Future Outlook

The vesting of the restricted stock is tied to future company performance and continued employment, incentivizing the executive to contribute to the company's success.

Industry Context

Granting restricted stock is a common practice in executive compensation to align management's interests with those of shareholders and incentivize long-term value creation.

Stakeholder Impact

• Shareholders may view the grant of restricted stock as a positive sign, aligning management's interests with long-term value creation.
• Employees may see this as a positive sign of the company investing in its leadership.

Key Dates

Keywords

restricted stock, Form 4, beneficial ownership, Lincoln Educational Services, executive compensation, vesting, performance-based, time-based, incentive plan, LINC, Nyce