Form 4: Lincoln Educational Services EVP Nyce Sells Shares to Cover Tax Obligations
SEC Form 4
Chad D. Nyce, EVP & Chief Innovation Officer of Lincoln Educational Services, disposed of shares to cover income tax obligations related to vesting restricted stock.
Summary
- Chad D. Nyce, the EVP & Chief Innovation Officer of Lincoln Educational Services, filed a Form 4 indicating changes in beneficial ownership.
- On March 1, 2024, Nyce disposed of a total of 32,814 shares of common stock to cover income tax obligations.
- These shares were withheld by the issuer related to the vesting of performance-based restricted stock granted on February 25, 2021, and performance-based and time-based restricted stock granted on February 23, 2022 and February 23, 2023.
- The transactions were executed at a price of $10 per share.
- Following these transactions, Nyce still beneficially owns 180,646 shares of Lincoln Educational Services common stock.
Sentiment
Score: 5
Explanation: The document is a routine regulatory filing (Form 4) detailing stock transactions by an executive to cover tax obligations. It doesn't inherently convey positive or negative sentiment about the company's performance or future prospects.
Industry Context
Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates standard practice of covering tax obligations upon vesting of stock awards.
Stakeholder Impact
- The disposal of shares by an executive could have a minor, temporary impact on the stock price, but is unlikely to significantly affect stakeholders.
Key Dates
| Date | Description |
|---|---|
| February 25, 2021 | Date of grant of performance-based restricted stock. |
| February 23, 2022 | Date of grant of performance-based and time-based restricted stock. |
| February 23, 2023 | Date of grant of performance-based and time-based restricted stock. |
| March 01, 2024 | Date of stock disposal for tax obligations. |
| March 05, 2024 | Date of Form 4 filing. |
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