SEC Form 4

FORM 4		UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934 or Section 30(h) of the Investment Company Act of 1940	OMB APPROVAL OMB Number: 3235-0287 Estimated average burden hours per response: 0.5
	Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person* Juniper Investment Company, LLC (Last) (First) (Middle) 555 MADISON AVENUE 24TH FLOOR (Street) NEW YORK NY 10022 (City) (State) (Zip)	2. Issuer Name and Ticker or Trading Symbol LINCOLN EDUCATIONAL SERVICES CORP [ LINC ]	5. Relationship of Reporting Person(s) to Issuer (Check all applicable) Director 10% Owner Officer (give title below) Other (specify below)
	3. Date of Earliest Transaction (Month/Day/Year) 05/31/2024
	4. If Amendment, Date of Original Filed (Month/Day/Year)	6. Individual or Joint/Group Filing (Check Applicable Line) Form filed by One Reporting Person Form filed by More than One Reporting Person
	Rule 10b5-1(c) Transaction Indication Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, no par value per share	05/31/2024		S		1,500	D	$11.65	269,809	D
Common Stock, no par value per share	05/31/2024		S		4,336	D	$11.66	265,473	D
Common Stock, no par value per share	05/31/2024		S		766	D	$11.67	264,707	D
Common Stock, no par value per share	05/31/2024		S		105	D	$11.675	264,602	D
Common Stock, no par value per share	05/31/2024		S		1,010	D	$11.68	263,592	D
Common Stock, no par value per share	05/31/2024		S		200	D	$11.685	263,392	D
Common Stock, no par value per share	05/31/2024		S		200	D	$11.69	263,192	D
Common Stock, no par value per share	05/31/2024		S		159	D	$11.7	263,033	D
Common Stock, no par value per share	05/31/2024		S		10	D	$11.71	263,023	D
Common Stock, no par value per share	05/31/2024		S		100	D	$11.73	262,923	D
Common Stock, no par value per share	05/31/2024		S		235	D	$11.74	262,688	D
Common Stock, no par value per share	05/31/2024		S		2,800	D	$11.77	259,888	D
Common Stock, no par value per share	05/31/2024		S		3,413	D	$11.78	256,475	D
Common Stock, no par value per share	05/31/2024		S		200	D	$11.785	256,275	D
Common Stock, no par value per share	05/31/2024		S		2,934	D	$11.79	253,341	D
Common Stock, no par value per share	05/31/2024		S		2,200	D	$11.795	251,141	D
Common Stock, no par value per share	05/31/2024		S		300	D	$11.7975	250,841	D
Common Stock, no par value per share	05/31/2024		S		4,300	D	$11.8	246,541	D
Common Stock, no par value per share	05/31/2024		S		233	D	$11.81	246,308	D
Common Stock, no par value per share	05/31/2024		S		9	D	$11.815	246,299	D
Common Stock, no par value per share								3,319,534	I	See Footnote(1)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Comprised of (i) 956,223 shares held by Juniper Targeted Opportunities L.P. ("Juniper Targeted Opportunities") and (ii) 2,363,311 shares held by Juniper Targeted Opportunity Fund, L.P. ("Juniper Fund"). Juniper Investment Company, LLC ("Juniper Investment Company") serves as the investment advisor to Juniper Targeted Opportunities and Juniper Fund. Mr. Michas and another individual serve as the managing members of Juniper Investment Company and the general partners of Juniper Targeted Opportunities and Juniper Fund and as a result, Mr. Michas shares voting and dispositive power over such shares with Juniper Investment Company and the other individual. Mr. Michas disclaims beneficial ownership of the holdings of Juniper Targeted Opportunities and Juniper Fund reflected herein except to the extent of his pecuniary interest therein.

	/s/ Alexis P. Michas	06/04/2024
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.