secwatch.observer — SEC 8-K summary
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Issuer:     LINCOLN EDUCATIONAL SERVICES CORP (LINC)
CIK:        0001286613
Form:       8-K
Filed at:   2022-12-16T23:59:59+00:00
Accession:  0001140361-22-045898
Event type: leadership
Sentiment:  neutral
Materiality: 0.25
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lincoln Educational extends employment contracts for four top executives through Dec 2025
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- New employment agreements extend CEO Shaw, CFO Meyers, EVPs Buchenot and Nyce through Dec 31, 2025.
- Base salaries unchanged: Shaw $500K, Meyers $358,955, Buchenot $304,387, Nyce $300K effective Jan 1, 2023.
- Annual performance bonuses based on Board/Committee targets under Incentive Plan; other benefits substantially similar.
- Severance on involuntary termination: 2x (base salary + target bonus); non-compete for 2 years, non-solicit for 1 year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1286613/000114036122045898/0001140361-22-045898-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1286613/000114036122045898/brhc10045492_8k.htm
  HTML page:      https://secwatch.observer/filing/0001140361-22-045898

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer