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Filing Details

Accession Number:: 0001019056-20-000497
Form Type:: 4
Zero Holdings:: No
Publication Time:: 2020-09-11 21:51:16
Reporting Period:: 2020-09-09

Accepted Time:: 2020-09-11 21:51:16
SEC Url:: Form 4 Filing

Issuer

Cik	Name	Symbol	Sector (SIC)	IRS No
1286613	Lincoln Educational Services Corp	LINC	Services-Educational Services (8200)	571150621

Insiders

Cik	Name	Reported Address	Insider Title	Director	Officer	Large Shareholder	Other
1524397	Juniper Targeted Opportunity Fund, L.p.	555 Madison Avenue 24Th Floor New York NY 10022		No	No	Yes	No
1794034	Juniper Investment Company, Llc	555 Madison Avenue 24Th Floor New York NY 10022		No	No	Yes	No

Reported Non-Derivative Transactions

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Sec. Name	Acquisiton - Disposition	Date	Amount	Price	Remaning Holdings	Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
Common Stock, No Par Value Per Share	Disposition	2020-09-09	25,082	$7.01	652,368	No	4	S	Indirect	Juniper Targeted Opportunity Fund, L.P.
Common Stock, No Par Value Per Share	Disposition	2020-09-10	7,929	$7.05	644,439	No	4	S	Indirect	Juniper Targeted Opportunity Fund, L.P.
Common Stock, No Par Value Per Share	Disposition	2020-09-11	29,591	$6.80	614,848	No	4	S	Indirect	Juniper Targeted Opportunity Fund, L.P.

Equity Swap Involved	Form Type	Code	Nature of Ownership	Explanation
No	4	S	Indirect	Juniper Targeted Opportunity Fund, L.P.
No	4	S	Indirect	Juniper Targeted Opportunity Fund, L.P.
No	4	S	Indirect	Juniper Targeted Opportunity Fund, L.P.

Reported Derivative Holdings

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Sec. Name	Sec. Type	Price	Date	Expiration Date	Amount	Remaning Holdings	Nature of Ownership
Common Stock	Series A Convertible Preferred Stock	$0.00			1,483,051	3,500	Indirect

Expiration Date	Amount	Remaning Holdings	Nature of Ownership
	1,483,051	3,500	Indirect

Footnotes

Represents securities held of record by Juniper Targeted Opportunity Fund, L.P.
The reported price is a weighted average price. The shares were sold on September 9, 2020 in multiple transactions at prices ranging from $7.35 to $6.90. The reporting person 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 September 10, 2020 in multiple transactions at prices ranging from $7.23 to $7.05. The reporting person 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 September 11, 2020 in multiple transactions at prices ranging from $6.63 to $7.07. The reporting person 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 Series A Convertible Preferred Stock ("Series A") is convertible into the Issuer's Common Stock on a 423.729-for-one basis (when issued and such conversion ratio is subject to increase in the event that dividends on such shares are not paid in cash). Series A is convertible at any time at the holder's election and has no expiration date. Beginning on November 14, 2022, the holder may be required by the Issuer to convert the Series A into Common Stock upon satisfaction of certain requirements. Juniper Investment Company, LLC is the investment manager of Juniper Targeted Opportunity Fund, L.P. and may be deemed to beneficially own the securities held by it. Each Reporting Person disclaims beneficial ownership of all interests reported herein except to the extent of such Reporting Person's pecuniary interests.