on March 11, 2020, by unanimous action of the Board of Directors of Lincoln Educational Services Corporation upon the recommendation of the Nominating and Corporate Governance Committee, the Board appointed Kevin M. Carney to fill the newly-created directorship resulting from the expansion in the size of the board of directors from eight members to nine members such appointment to be effective immediately, but has not yet determined to which committees of the Board Mr. Carney will be appointed. Upon the recommendation of the Nominating and Corporate Governance Committee, the Board determined that Mr. Carney is independent under the rules of The NASDAQ Stock Market. Mr. Carney recently retired as Executive Vice President and Chief Financial Officer of Web.com Group Inc. Mr. Carney joined the founding management team of Web.com in 1998 and served as its Chief Financial Officer through 2018. Since retiring from Web.com, Mr. Carney has been providing consulting services, specializing in mergers and acquisitions. Prior to Web.com, Mr. Carney was Director of Finance and Chief Financial Officer of The Carlyle Group and Carlyle International, respectively, from 1990 through 1994, and, prior to that, as Director of Mergers and Acquisitions at Manor Care Inc. He began his career as an auditor with Arthur Andersen & Co., was a Certified Public Accountant.