Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-07-07

Lincoln Educational Services (LINC)

CEO Scott Shaw was paid $3,999,717 in fiscal year 2025, ↑ up 56.4% from fiscal year 2024, the 22nd percentile of its disclosed peer group (SEC filing 0001140361-26-011290 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$3,999,717 ↑
Scott Shaw total, FY2025
22nd
CEO pay percentile vs peers
61:1
CEO-to-median pay ratio
95.12%
Say-on-pay support, latest vote

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Sample answer — “What is the CEO’s total compensation?”
- Scott Shaw (President and Chief Executive Officer), FY2025 total compensation $3,999,717 (base salary $650,000) [exec_comp, SEC accession 0001140361-26-011290, filed 2026-03-26]

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LINC's next annual pay disclosure, estimated March 11, 2027.est. Filing ↗

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Scott Shaw$650,000$0$2,200,000$0$1,134,688$0$15,029$3,999,717
President and Chief Executive Officer
Brian Meyers440,00001,000,0000576,072013,0992,029,171
Executive Vice President, Chief Financial Officer and Treasurer
Chad Nyce440,00001,000,0000576,07206,9172,022,990
Executive Vice President, Chief Operating Officer
Alexandra Luster308,2270125,0000269,03206,763709,022
Senior Vice President, General Counsel and Corporate Secretary
Stephen Ace300,0000125,0000261,85108,435695,286
Senior Vice President and Chief Human Resources Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY2024→2025
Scott Shaw$3,999,717$2,557,645$2,458,683↑ +1,442,072
Brian Meyers2,029,1711,233,8811,270,631↑ +795,290
Chad Nyce2,022,9901,179,464877,927↑ +843,526
Alexandra Luster709,022586,840630,323↑ +122,182
Stephen Ace695,286587,142628,330↑ +108,144

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

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Companies that benchmark against LINC
4 companies name LINC as a compensation peer

Each company listed discloses LINC in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named LINC in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01c

Board of directors

One page per director: the seat, the committees and the fee table, read for one person at a time.

DirectorRoleFY2025 total
Anna Escobedo CabralIndependent Director$127,500
Carlton E. RoseIndependent Director$129,000
Felecia J. PryorIndependent Director$131,000
James J. Burke, JrIndependent Director$127,000
John A. BartholdsonChair of the Board$200,000
Kevin M. CarneyIndependent Director$130,000
Marta NewhartIndependent Director$125,500
Michael A. PlaterIndependent Director$133,000
Sylvia J. YoungIndependent Director$129,000
02

Equity transactions since the proxy statement was filed

Every insider equity transaction reported on Form 4 after the 2025 proxy statement — acquisitions, dispositions, exercises, and withholdings — and therefore not reflected in any table in that document.

InsiderRoleTransaction dateCodeSharesPriceValueSecuritySource
Felecia J. PryorDirector2026-05-07A2,495$44$110,030CommonForm 4 ↗
James J. Burke, JrDirector2026-05-07A2,49544110,030CommonForm 4 ↗
Sylvia J. YoungDirector2026-05-07A2,49544110,030CommonForm 4 ↗
Carlton E. RoseDirector2026-05-07A2,49544110,030CommonForm 4 ↗
Marta NewhartDirector2026-05-07A2,49544110,030CommonForm 4 ↗
Anna Escobedo CabralDirector2026-05-07A2,49544110,030CommonForm 4 ↗
Michael A. PlaterDirector2026-05-07A2,49544110,030CommonForm 4 ↗
Kevin M. CarneyDirector2026-05-07A2,49544110,030CommonForm 4 ↗
John A. BartholdsonDirector2026-05-07A3,51544155,012CommonForm 4 ↗
Brian MeyersCFO and Treasurer2026-05-12D40,070502,002,699CommonForm 4 ↗
Juniper Investment Company, LLC—2026-05-14D47,836512,447,266Common, indirectForm 4 ↗
James J. Burke, JrDirector2026-05-14D193529,990CommonForm 4 ↗
Juniper Investment Company, LLC—2026-05-15D1,9855099,468Common, indirectForm 4 ↗
James J. Burke, JrDirector2026-05-18D16,00050792,640CommonForm 4 ↗
James J. Burke, JrDirector2026-05-22D15,80748764,427CommonForm 4 ↗
Juniper Investment Company, LLC—2026-06-03D81,504504,083,383Common, indirectForm 4 ↗
Felecia J. PryorDirector2026-06-03D2,0005099,400CommonForm 4 ↗
Juniper Investment Company, LLC—2026-06-04D25,208511,288,951Common, indirectForm 4 ↗
Alexandra LusterSVP and General Counsel2026-06-05D1,9935099,869CommonForm 4 ↗
Kevin M. CarneyDirector2026-06-08A3,21600CommonForm 4 ↗
Kevin M. CarneyDirector2026-06-08D3,21600CommonForm 4 ↗
Kevin M. CarneyDirector2026-06-10D3,00048144,000CommonForm 4 ↗
Juniper Investment Company, LLC—2026-06-11D11,81248565,390Common, indirectForm 4 ↗
Juniper Investment Company, LLC—2026-06-12D37,000471,734,712Common, indirectForm 4 ↗
Alexandra LusterSVP and General Counsel2026-06-15D18,00745803,832CommonForm 4 ↗

Transaction codes per Form 4: A acquisition · S open-market sale · F tax withholding · M option exercise · G gift. Value = shares × price as reported. Dividend-equivalent and fractional-share accrual rows (derivative Class A, under $10,000 and under 2,000 shares) are aggregated per date; every row appears in full below.

03

Grants of plan-based awards — fiscal year 2025

ExecutiveAwardGrant dateThresholdTargetGrantedMaximumGrant-date fair value
Brian MeyersPSU2025-02-194,51918,075—36,150$325,000
Chad NycePSU2025-02-194,86719,466—19,466350,000
Chad NyceRSU2025-02-19——18,076—325,000
Stephen AcePSU2025-02-198693,476—6,95262,500
Scott ShawPSU2025-02-199,73338,932—38,932700,000
Alexandra LusterPSU2025-02-198693,476—6,95262,500
Brian MeyersPSU2025-02-194,86719,466—19,466350,000
Scott ShawPSU2025-02-1910,42841,713—83,426750,000
Chad NycePSU2025-02-194,51918,075—36,150325,000
Stephen AceRSU2025-02-19——3,476—62,500
Brian MeyersRSU2025-02-19——18,076—325,000
Alexandra LusterRSU2025-02-19——3,476—62,500
Scott ShawRSU2025-02-19——41,713—750,000
03b

Vehicle mix — grant-date fair value by award type

Named executive officerTime-vested (RSU)Performance-vested (PSU)Options / SARs% performance-vested
Brian Meyers$325,000$675,000$067.5%
Chad Nyce325,000675,000067.5%
Stephen Ace62,50062,500050.0%
Scott Shaw750,0001,450,000065.9%
Alexandra Luster62,50062,500050.0%

% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Chad NycePSU44,886—$1,083,997
Alexandra LusterPSU12,027—290,452
Scott ShawPSU164,734—3,978,326
Brian MeyersPSU72,744—1,756,768
Alexandra LusterPSU11,195—270,359
Scott ShawPSU115,811—2,796,836
Stephen AcePSU12,027—290,452
Stephen AcePSU11,195—270,359
Brian MeyersPSU48,950—1,182,143
Chad NycePSU68,680—1,658,622
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company and the Compensation Committee believe that compensation paid to executive officers should be closely aligned with our performance on both a short-term and long-term basis, and that such compensation should assist us in attracting and retaining key executives that are critical to our long-term success.

CEO STI target (% of salary)—
CEO LTI target (% of salary)—
Independent consultantGrant Thornton Advisors LLC
Clawback policyTrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-05-0722,584,2871,159,831121,83395.12%Passed
20252025-05-0821,638,9351,264,293228,08794.48%Passed
20242024-05-0219,875,7381,438,503317,65293.25%Passed
20232023-05-0517,911,2962,955,750975,27585.84%Passed
20222022-05-0524,081,691378,8818,76398.45%Passed
20212021-05-0623,769,090517,631162,93997.87%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-05-0795.12%a
20252025-05-0894.48%b
20242024-05-0293.25%c

a. Approved under the standard stated in the filing — “Under New Jersey law, abstentions and broker non-votes, if any, will not be counted as votes cast and, accordingly, will have no effect on the outcome of the vote for any of the above proposals.”.

b. Approved under the standard stated in the filing — “Under New Jersey law, abstentions and broker non-votes, if any, will not be counted as votes cast and, accordingly, will have no effect on the outcome of the vote for any of the above proposals.”.

c. Approved under the standard stated in the filing — “Under New Jersey law, abstentions and broker "non-votes", if any, will not be counted as votes cast and, accordingly, will have no effect on the outcome of the vote for any of the above proposals.”.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)61 : 1
CEO total compensation$3,999,717
Median employee compensation$65,278
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
John A. BartholdsonIndependent · Board Chair$95,000$105,000$0—$0$200,000
Michael A. PlaterIndependent · Audit · Nominating & Corporate Governance (Chair) · Nominating Corporate Governance (Chair)73,00060,0000—0133,000
Felecia J. PryorIndependent · Nominating & Corporate Governance · Compensation (Chair)71,00060,0000—0131,000
Kevin M. CarneyIndependent · Audit (Chair)70,00060,0000—0130,000
Sylvia J. YoungIndependent · Audit · Compensation69,00060,0000—0129,000
Carlton E. RoseIndependent · Audit · Compensation69,00060,0000—0129,000
Anna Escobedo CabralIndependent · Audit · Nominating & Corporate Governance67,50060,0000—0127,500
James J. Burke, JrIndependent · Nominating & Corporate Governance · Compensation67,00060,000000127,000
Marta NewhartIndependent · Nominating & Corporate Governance · Compensation65,50060,0000—0125,500
Scott M. ShawEmployee director000—00
09

Board fee structure and ownership guideline

Annual cash retainer$55,000
Annual equity retainer$60,000
Per board meeting fee—
Committee chair fees (audit / comp / nom-gov)—
Stock ownership guideline4x Annual Cash Retainer
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$647,000
Equity awards (grant-date value)$585,000
All other compensation$0
Total cost of the board$1,232,000

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies Lincoln Educational Services names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including Lincoln Educational Services.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Coursera, Inc.2025Gregory Hart$540,833$14,629,466$23,644,105$570,467$39,387,371
2Laureate Education, Inc.2025Eilif Serck-Hanssen1,000,0008,343,93401,606,80010,975,343
3Target Hospitality Corp.2025James Archer850,0003,703,51802,634,0657,239,484
4Strategic Education, Inc.2025Karl McDonnell1,018,0093,250,00001,393,5585,672,067
5Perdoceo Education Corporation2025Todd Nelson835,1922,287,57702,125,0005,473,723
6Denny's Corporation2024Kelli Valade938,3083,768,5060507,6255,257,477
7Udemy, Inc.2024Greg Brown583,7504,548,838005,151,396
8Universal Technical Institute, Inc.2025Jerome Grant723,0773,506,0700874,9235,149,264
9American Public Education, Inc.2025Angela Selden838,8463,103,87401,045,3155,063,608
10Lincoln Educational Services2025Scott Shaw650,0002,200,00001,134,6883,999,717
11Carriage Services, Inc.2025Carlos Quezada850,0001,599,98601,318,9293,859,198
12El Pollo Loco Holdings, Inc.2025Elizabeth Williams750,9501,434,000717,000581,1623,539,320
13Inspired Entertainment, Inc.2025Brooks Pierce650,0001,240,1370770,9522,759,378
14Grand Canyon Education, Inc.2025Brian Mueller321,0001,211,6680481,5002,020,867
15RCI Hospitality Holdings, Inc.2025Eric Langan1,708,775———1,990,503
16Franklin Convery Co.2025Paul Walker650,000787,965—15,2451,471,160
17Kura Sushi USA, Inc.2025Hajime Uba517,500454,7500183,4121,155,662
—European Wax Center, Inc.——————not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
Lincoln Educational Services174.6%RSU 50 · PSU 50NoGrant Thornton Advisors LLC
American Public Education, Inc.not disclosedRSU 50 · PSU 50NoWillis Towers Watson (WTW)
Carriage Services, Inc.not disclosedRSU 50 · PSU 50not disclosedPearl Meyer
Coursera, Inc.106.3%not disclosedNoCompensia, Inc.
Denny's Corporationnot disclosedPSU 50 · RSU 50not disclosedFW Cook
El Pollo Loco Holdings, Inc.77.5%Option 33.33 · RSA 33.33 · PSU 33.33NoSemler Brossy
European Wax Center, Inc.not disclosednot disclosednot disclosednot disclosed
Franklin Convery Co.not disclosedPSU 75 · RSU 25NoMercer, ClearBridge Compensation Group, LLC
Grand Canyon Education, Inc.150%RSU 100not disclosedMercer
Inspired Entertainment, Inc.not disclosedRSU 50 · PSU 50NoFrederic W. Cook & Co., Inc.
Kura Sushi USA, Inc.not disclosedRSU 50 · PSU 50not disclosedPearl Meyer & Partners, LLC
Laureate Education, Inc.not disclosednot disclosednot disclosedMeridian Compensation Partners, LLC
Perdoceo Education Corporationnot disclosedRSU 50 · PSU 50not disclosedPay Governance
RCI Hospitality Holdings, Inc.not disclosedOption 100not disclosednot disclosed
Strategic Education, Inc.108.8%RSU 100not disclosedEquilar, Inc.
Target Hospitality Corp.not disclosedRSU 50 · PSU 50not disclosedFrederic W. Cook & Co., Inc.
Udemy, Inc.not disclosedRSU 50 · PSU 50NoFW Cook
Universal Technical Institute, Inc.121%not disclosedNoPearl Meyer

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

10d

Frequently asked questions

Who was the highest-paid executive at Lincoln Educational Services in fiscal 2025?
As disclosed, Scott Shaw (President and Chief Executive Officer) was the highest-paid executive at Lincoln Educational Services in fiscal 2025, with total compensation of $3,999,717.
How does Lincoln Educational Services's chief executive pay compare to its disclosed peer group?
As disclosed, Scott Shaw's total compensation ranked at the 22nd percentile of Lincoln Educational Services's disclosed peer group.
What is Lincoln Educational Services's CEO-to-median employee pay ratio?
As disclosed, Lincoln Educational Services's CEO-to-median employee pay ratio was 61:1.
How did shareholders vote on Lincoln Educational Services's executive compensation?
As disclosed, 95.12% of shareholders supported Lincoln Educational Services's executive compensation in the latest say-on-pay vote.
How much does Lincoln Educational Services spend in total on board compensation for fiscal 2025?
As disclosed, Lincoln Educational Services reported total board compensation of $1,232,000 for fiscal 2025.

Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Scott ShawDEF 14A2026-03-260001140361-26-011290Section “Summary Compensation Table”. As printed: 3,999,717. Filing ↗machine: t95 · r2 · c19 · span 616298–616307
2Section 01, Brian MeyersDEF 14A2026-03-260001140361-26-011290Section “Summary Compensation Table”. As printed: 2,029,171. Filing ↗machine: r5 · c19 · span 629377–629386
3Section 01, Chad NyceDEF 14A2026-03-260001140361-26-011290Section “Summary Compensation Table”. As printed: 2,022,990. Filing ↗machine: r8 · c19 · span 642352–642361
4Section 01, Alexandra LusterDEF 14A2026-03-260001140361-26-011290Section “Summary Compensation Table”. As printed: 709,022. Filing ↗machine: r11 · c19 · span 655745–655752
5Section 01, Stephen AceDEF 14A2026-03-260001140361-26-011290Section “Summary Compensation Table”. As printed: 695,286. Filing ↗machine: r14 · c19 · span 668834–668841
6Section 03, Brian Meyers PSUDEF 14A1900-01-010001140361-26-011290Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 781114–781121
7Section 03, Chad Nyce PSUDEF 14A1900-01-010001140361-26-011290Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 820854–820861
8Section 03, Chad Nyce RSUDEF 14A1900-01-010001140361-26-011290Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 807502–807509
9Section 03, Stephen Ace PSUDEF 14A1900-01-010001140361-26-011290Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 872051–872057
10Section 03, Scott Shaw PSUDEF 14A1900-01-010001140361-26-011290Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 755125–755132
11Section 03, Alexandra Luster PSUDEF 14A1900-01-010001140361-26-011290Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 847088–847094
12Section 03, Brian Meyers PSUDEF 14A1900-01-010001140361-26-011290Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 787412–787419
13Section 03, Scott Shaw PSUDEF 14A1900-01-010001140361-26-011290Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 748071–748078
14Section 03, Chad Nyce PSUDEF 14A1900-01-010001140361-26-011290Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 813800–813807
15Section 03, Stephen Ace RSUDEF 14A1900-01-010001140361-26-011290Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 866101–866107
16Section 03, Brian Meyers RSUDEF 14A1900-01-010001140361-26-011290Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 774060–774067
17Section 03, Alexandra Luster RSUDEF 14A1900-01-010001140361-26-011290Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 839912–839918
18Section 03, Scott Shaw RSUDEF 14A1900-01-010001140361-26-011290Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 741814–741821
19Section 07, pay ratioDEF 14A2026-03-260001140361-26-011290Section “CEO Pay Ratio”. As printed: 61 : 1. Filing ↗machine: t128 · span 1208511–1208597
20Section 08, John A. BartholdsonDEF 14A2026-03-260001140361-26-011290Section “Director Compensation”. As printed: 200,000. Filing ↗machine: t124 · r3 · c22 · span 1125956–1126177
21Section 08, Michael A. PlaterDEF 14A2026-03-260001140361-26-011290Section “Director Compensation”. As printed: 133,000. Filing ↗machine: t124 · r8 · c22 · span 1152596–1152817
22Section 08, Felecia J. PryorDEF 14A2026-03-260001140361-26-011290Section “Director Compensation”. As printed: 131,000. Filing ↗machine: t124 · r9 · c22 · span 1158257–1158478
23Section 08, Kevin M. CarneyDEF 14A2026-03-260001140361-26-011290Section “Director Compensation”. As printed: 130,000. Filing ↗machine: t124 · r6 · c22 · span 1141831–1142052
24Section 08, Sylvia J. YoungDEF 14A2026-03-260001140361-26-011290Section “Director Compensation”. As printed: 129,000. Filing ↗machine: t124 · r11 · c22 · span 1169061–1169282
25Section 08, Carlton E. RoseDEF 14A2026-03-260001140361-26-011290Section “Director Compensation”. As printed: 129,000. Filing ↗machine: t124 · r10 · c22 · span 1163362–1163583
26Section 08, Anna Escobedo CabralDEF 14A2026-03-260001140361-26-011290Section “Director Compensation”. As printed: 127,500. Filing ↗machine: t124 · r5 · c22 · span 1136760–1136981
27Section 08, James J. Burke, JrDEF 14A2026-03-260001140361-26-011290Section “Director Compensation”. As printed: 127,000. Filing ↗machine: t124 · r4 · c22 · span 1131065–1131286
28Section 08, Marta NewhartDEF 14A2026-03-260001140361-26-011290Section “Director Compensation”. As printed: 125,500. Filing ↗machine: t124 · r7 · c22 · span 1147528–1147749
29Section 08, Scott M. ShawDEF 14A2026-03-260001140361-26-011290Section “Director Compensation”. As printed: 0. Filing ↗
30Section 02, Felecia J. Pryor 2026-05-07Form 42026-05-080001286613-26-000075Insider equity transaction reported since the proxy statement. Filing ↗
31Section 02, James J. Burke, Jr 2026-05-07Form 42026-05-080001286613-26-000065Insider equity transaction reported since the proxy statement. Filing ↗
32Section 02, Sylvia J. Young 2026-05-07Form 42026-05-080001286613-26-000067Insider equity transaction reported since the proxy statement. Filing ↗
33Section 02, Carlton E. Rose 2026-05-07Form 42026-05-080001286613-26-000069Insider equity transaction reported since the proxy statement. Filing ↗
34Section 02, Marta Newhart 2026-05-07Form 42026-05-080001286613-26-000071Insider equity transaction reported since the proxy statement. Filing ↗
35Section 02, Anna Escobedo Cabral 2026-05-07Form 42026-05-080001286613-26-000073Insider equity transaction reported since the proxy statement. Filing ↗
36Section 02, Michael A. Plater 2026-05-07Form 42026-05-080001286613-26-000076Insider equity transaction reported since the proxy statement. Filing ↗
37Section 02, Kevin M. Carney 2026-05-07Form 42026-05-080001286613-26-000078Insider equity transaction reported since the proxy statement. Filing ↗
38Section 02, John A. Bartholdson 2026-05-07Form 42026-05-080001286613-26-000080Insider equity transaction reported since the proxy statement. Filing ↗
39Section 02, Brian Meyers 2026-05-12Form 42026-05-130001286613-26-000083Insider equity transaction reported since the proxy statement. Filing ↗
40Section 02, Juniper Investment Company, LLC 2026-05-14Form 42026-05-180001019056-26-000102Insider equity transaction reported since the proxy statement. Filing ↗
41Section 02, James J. Burke, Jr 2026-05-14Form 42026-05-180001286613-26-000086Insider equity transaction reported since the proxy statement. Filing ↗
42Section 02, Juniper Investment Company, LLC 2026-05-15Form 42026-05-180001019056-26-000102Insider equity transaction reported since the proxy statement. Filing ↗
43Section 02, James J. Burke, Jr 2026-05-18Form 42026-05-180001286613-26-000086Insider equity transaction reported since the proxy statement. Filing ↗
44Section 02, James J. Burke, Jr 2026-05-22Form 42026-05-270001286613-26-000089Insider equity transaction reported since the proxy statement. Filing ↗
45Section 02, Juniper Investment Company, LLC 2026-06-03Form 42026-06-050001019056-26-000104Insider equity transaction reported since the proxy statement. Filing ↗
46Section 02, Felecia J. Pryor 2026-06-03Form 42026-06-040001286613-26-000092Insider equity transaction reported since the proxy statement. Filing ↗
47Section 02, Juniper Investment Company, LLC 2026-06-04Form 42026-06-050001019056-26-000104Insider equity transaction reported since the proxy statement. Filing ↗
48Section 02, Alexandra Luster 2026-06-05Form 42026-06-090001286613-26-000094Insider equity transaction reported since the proxy statement. Filing ↗
49Section 02, Kevin M. Carney 2026-06-08Form 42026-06-100001286613-26-000096Insider equity transaction reported since the proxy statement. Filing ↗
50Section 02, Kevin M. Carney 2026-06-08Form 42026-06-100001286613-26-000096Insider equity transaction reported since the proxy statement. Filing ↗
51Section 02, Kevin M. Carney 2026-06-10Form 42026-06-100001286613-26-000096Insider equity transaction reported since the proxy statement. Filing ↗
52Section 02, Juniper Investment Company, LLC 2026-06-11Form 42026-06-150001019056-26-000106Insider equity transaction reported since the proxy statement. Filing ↗
53Section 02, Juniper Investment Company, LLC 2026-06-12Form 42026-06-150001019056-26-000106Insider equity transaction reported since the proxy statement. Filing ↗
54Section 02, Alexandra Luster 2026-06-15Form 42026-06-150001286613-26-000098Insider equity transaction reported since the proxy statement. Filing ↗
55Section 06, 2026 voteForm 8-K2026-05-110001140361-26-020318Item 5.07 · say-on-pay result. As reported: 95.12% (votes for as printed: 22,584,287). Filing ↗
56Section 06, 2025 voteForm 8-K2025-05-140001140361-25-018808Item 5.07 · say-on-pay result. As reported: 94.48% (votes for as printed: 21,638,935). Filing ↗
57Section 06, 2024 voteForm 8-K2024-05-070001140361-24-024642Item 5.07 · say-on-pay result. As reported: 93.25% (votes for as printed: 19,875,738). Filing ↗
58Section 01 trend, Δ column (computed)Computed——Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
59Section 03b vehicle mix (computed)Computed——RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio
60Section 09b board cost (computed)Computed——Cash 647,000 + equity 585,000 + all other 0 = 1,232,000, summed across the director compensation table rows.machine: formula: Σ = 1,232,000
61Coursera, Inc., Section 10b CEO totalDEF 14A2026-05-110001651562-26-000036CEO total compensation as printed in Coursera, Inc.'s own proxy. As printed: 39,387,371. Filing ↗machine: r3 · c33 · span 735414–735424
62Laureate Education, Inc., Section 10b CEO totalDEF 14A2026-04-090001628280-26-024338CEO total compensation as printed in Laureate Education, Inc.'s own proxy. As printed: 10,975,343. Filing ↗machine: r4 · c24 · span 469288–469298
63Target Hospitality Corp., Section 10b CEO totalDEF 14A2026-04-070001104659-26-040125CEO total compensation as printed in Target Hospitality Corp.'s own proxy. As printed: 7,239,484. Filing ↗machine: r1 · c54 · span 1175240–1175249
64Strategic Education, Inc., Section 10b CEO totalDEF 14A2026-03-110001104659-26-026380CEO total compensation as printed in Strategic Education, Inc.'s own proxy. As printed: 5,672,067. Filing ↗machine: span 569797–569806
65Perdoceo Education Corporation, Section 10b CEO totalDEF 14A2026-04-090001193125-26-149814CEO total compensation as printed in Perdoceo Education Corporation's own proxy. As printed: 5,473,723. Filing ↗machine: span 927815–927824
66Denny's Corporation, Section 10b CEO totalDEF 14A2025-04-030001193125-25-071810CEO total compensation as printed in Denny's Corporation's own proxy. As printed: 5,257,477. Filing ↗machine: span 704595–704604
67Udemy, Inc., Section 10b CEO totalDEF 14A2025-04-250001607939-25-000046CEO total compensation as printed in Udemy, Inc.'s own proxy. As printed: 5,151,396. Filing ↗machine: r2 · c42 · span 749913–749922
68Universal Technical Institute, Inc., Section 10b CEO totalDEF 14A2026-01-200001140361-26-001690CEO total compensation as printed in Universal Technical Institute, Inc.'s own proxy. As printed: 5,149,264. Filing ↗machine: r2 · c19 · span 904453–904462
69American Public Education, Inc., Section 10b CEO totalDEF 14A2026-04-090001140361-26-013996CEO total compensation as printed in American Public Education, Inc.'s own proxy. As printed: 5,063,608. Filing ↗machine: r2 · c22 · span 1130437–1130447
70Lincoln Educational Services (subject), Section 10b CEO totalDEF 14A2026-03-260001140361-26-011290CEO total compensation as printed in Lincoln Educational Services's own proxy. As printed: 3,999,717. Filing ↗machine: t95 · r2 · c19 · span 616298–616307
71Carriage Services, Inc., Section 10b CEO totalDEF 14A2026-03-270001104659-26-036092CEO total compensation as printed in Carriage Services, Inc.'s own proxy. As printed: 3,859,198. Filing ↗machine: span 712704–712713
72El Pollo Loco Holdings, Inc., Section 10b CEO totalDEF 14A2026-04-300001606366-26-000021CEO total compensation as printed in El Pollo Loco Holdings, Inc.'s own proxy. As printed: 3,539,320. Filing ↗machine: span 798734–798743
73Inspired Entertainment, Inc., Section 10b CEO totalDEF 14A2026-04-210001493152-26-018334CEO total compensation as printed in Inspired Entertainment, Inc.'s own proxy. As printed: 2,759,378. Filing ↗machine: r4 · c30 · span 361513–361522
74Grand Canyon Education, Inc., Section 10b CEO totalDEF 14A2026-04-230001104659-26-047719CEO total compensation as printed in Grand Canyon Education, Inc.'s own proxy. As printed: 2,020,867. Filing ↗machine: span 873029–873038
75RCI Hospitality Holdings, Inc., Section 10b CEO totalDEF 14A2026-07-070001628280-26-047485CEO total compensation as printed in RCI Hospitality Holdings, Inc.'s own proxy. As printed: 1,990,503. Filing ↗
76Franklin Convery Co., Section 10b CEO totalDEF 14A2025-12-180001193125-25-324927CEO total compensation as printed in Franklin Convery Co.'s own proxy. As printed: 1,471,160. Filing ↗
77Kura Sushi USA, Inc., Section 10b CEO totalDEF 14A2025-12-100001193125-25-314444CEO total compensation as printed in Kura Sushi USA, Inc.'s own proxy. As printed: 1,155,662. Filing ↗machine: span 753256–753265
78Section 10a, Laureate Education, Inc. reciprocityDEF 14A—0001628280-26-024338Laureate Education, Inc.'s most recent proxy was read; its disclosed peer group does not include Lincoln Educational Services. Filing ↗
79Section 10a, Franklin Convery Co. reciprocityDEF 14A—0001193125-25-324927Franklin Convery Co.'s most recent proxy was read; its disclosed peer group does not include Lincoln Educational Services. Filing ↗
80Section 10a, American Public Education, Inc. reciprocityDEF 14A—0001140361-26-013996American Public Education, Inc. names Lincoln Educational Services in its own disclosed peer group (read from its most recent proxy). Filing ↗
81Section 10a, Perdoceo Education Corporation reciprocityDEF 14A—0001193125-26-149814Perdoceo Education Corporation names Lincoln Educational Services in its own disclosed peer group (read from its most recent proxy). Filing ↗
82Section 10a, Strategic Education, Inc. reciprocityDEF 14A—0001104659-26-026380Strategic Education, Inc.'s most recent proxy was read; its disclosed peer group does not include Lincoln Educational Services. Filing ↗
83Section 10a, Coursera, Inc. reciprocityDEF 14A—0001651562-26-000036Coursera, Inc.'s most recent proxy was read; its disclosed peer group does not include Lincoln Educational Services. Filing ↗
84Section 10a, Udemy, Inc. reciprocityDEF 14A—0001607939-25-000046Udemy, Inc.'s most recent proxy was read; its disclosed peer group does not include Lincoln Educational Services. Filing ↗
85Section 10a, Universal Technical Institute, Inc. reciprocityDEF 14A—0001140361-26-001690Universal Technical Institute, Inc. names Lincoln Educational Services in its own disclosed peer group (read from its most recent proxy). Filing ↗
86Section 10a, Kura Sushi USA, Inc. reciprocityDEF 14A—0001193125-25-314444Kura Sushi USA, Inc.'s most recent proxy was read; its disclosed peer group does not include Lincoln Educational Services. Filing ↗
87Section 10a, Denny's Corporation reciprocityDEF 14A—0001193125-25-071810Denny's Corporation's most recent proxy was read; its disclosed peer group does not include Lincoln Educational Services. Filing ↗
88Section 10a, Target Hospitality Corp. reciprocityDEF 14A—0001104659-26-040125Target Hospitality Corp.'s most recent proxy was read; its disclosed peer group does not include Lincoln Educational Services. Filing ↗
89Section 10a, Inspired Entertainment, Inc. reciprocityDEF 14A—0001493152-26-018334Inspired Entertainment, Inc.'s most recent proxy was read; its disclosed peer group does not include Lincoln Educational Services. Filing ↗

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