Business Context and Reporting Period
This Form 8-K filing by Lincoln Educational Services Corporation covers the event date of August 5, 2015. The report addresses a change in the composition of the Company's Board of Directors.
Key Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report is limited to corporate governance matters and contains no financial performance data.
Material Changes
On August 5, 2015, Douglas G. DelGrosso resigned from the Board of Directors effective immediately. Mr. DelGrosso had served on the Board since 2014 and was a member of the Audit and Compensation Committees. The Company stated there were no disagreements regarding his departure.
Guidance, Outlook, and Risks
The Company does not have plans to replace Mr. DelGrosso at this time and intends to maintain the Board size at seven members. No financial guidance, outlook, or specific risk factors were disclosed in this filing.
Investor Verification Checklist
- Confirm the current composition of the Board of Directors following the resignation.
- Verify the status of the Audit and Compensation Committees given the departure of a member.
- Review subsequent filings for any appointment of a new director to fill the vacancy.