Anna Cabral
LINCOLN EDUCATIONAL SERVICESAbout Anna Cabral
Anna Escobedo Cabral (age 65) was appointed as an independent director of Lincoln Educational Services Corporation (LINC) on June 27, 2024; she holds a B.A. in Political Science (UC Davis), an MPA (Harvard Kennedy School), and a J.D. (George Mason) . She served as Treasurer of the United States (2004–2009) and later as senior advisor for external relations at the Inter-American Development Bank (2009–2018) . She currently chairs Navient Corporation’s Audit Committee and serves on Navient’s Nominations and Governance Committee .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| U.S. Department of the Treasury | Treasurer of the United States | 2004–2009 | Oversaw Bureau of Engraving and Printing and U.S. Mint; led financial education/public outreach |
| Inter-American Development Bank | Senior Advisor, External Relations | 2009–2018 | External stakeholder engagement |
| Smithsonian Institution | Director, Center for Latino Initiatives | Not disclosed | Program leadership |
| Hispanic Association on Corporate Responsibility | CEO | Not disclosed | Advocacy and governance leadership |
| U.S. Senate Republican Conference Task Force for Hispanic Affairs | Executive Staff Director | 1991–1999 | Policy coordination |
| U.S. Senate Committee on the Judiciary | Chief Clerk; Deputy Staff Director | 1993–1999 | Committee operations |
External Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Navient Corporation | Independent Director; Audit Committee Chair; Nominations & Governance Committee member | Director since Dec 2014 | Chairs Audit; governance oversight |
| BBVA Microfinance Foundation | Chair | Not disclosed | Financial inclusion advocacy |
| Financial Services Roundtable Retirement Security Council | Former Chair | Not disclosed | Policy leadership |
| MANA (national Latina organization) | Member | Not disclosed | Community engagement |
Board Governance
- Committee assignments at LINC (2024): Audit Committee member; Audit Chair is Kevin M. Carney; Cabral is designated independent .
- Attendance: Board met 6 times in FY2024; Cabral attended all Board and committee meetings from her appointment date .
- Independence: Board determined all non-CEO directors, including Cabral, are independent under NASDAQ rules .
- Board leadership: Non-Executive Chair leads executive sessions of non-employee directors generally at each regular Board meeting .
Fixed Compensation
| Element | Amount | Details |
|---|---|---|
| Annual cash retainer (pro-rated for 2024) | $27,500 | Appointed June 27, 2024; standard annual retainer is $55,000 when full-year |
| Committee fee (Audit member, pro-rated) | $4,000 | Audit Committee member fee; full-year member fee is $8,000 |
| Equity grant (restricted stock) | $50,000 | 4,348 restricted shares granted 6/27/2024; vests fully on 5/2/2025; fair value based on closing price ($11.50) at grant |
| 2024 total director compensation | $81,500 | Sum of pro-rated cash and equity |
Grant and vesting specifics:
- Grant date: June 27, 2024; shares: 4,348; per-share fair value basis: $11.50; vesting: full vest on May 2, 2025 .
Performance Compensation
| Metric | Applies to Non-Employee Directors? | Notes |
|---|---|---|
| Performance-based equity metrics (e.g., EBITDA, TSR) | No | Director equity grants are time-based restricted stock; no performance metrics disclosed for directors |
Other Directorships & Interlocks
| Company | Role | Committee Roles | Potential Interlock/Conflict Note |
|---|---|---|---|
| Navient Corporation | Director | Audit Chair; Nominations & Governance Committee | No related-party transactions with LINC disclosed; 8-K states no Item 404(a) relationships for Cabral at appointment . LINC reports no related person transactions in 2024–2023 . |
Expertise & Qualifications
- LINC Board Skills Matrix marks Cabral for CEO/Senior Officer experience, governance/board experience, financial acumen, and independence .
- Education: B.A., MPA, J.D., and extensive federal and multilateral institutional leadership .
Equity Ownership
| Holder | Shares Beneficially Owned | Ownership % | Notes |
|---|---|---|---|
| Anna Cabral | 4,348 | <1% | Shares are restricted stock awarded; listed as beneficial ownership as of 3/20/2025 . |
Alignment and risk controls:
- LINC’s Code of Conduct prohibits directors/officers from hedging or pledging company stock; exceptions require Board approval .
Insider Trades
| Date | Form | Transaction | Shares/Price | Notes |
|---|---|---|---|---|
| Not disclosed in proxy | — | — | — | LINC states Section 16(a) compliance for FY2024; specific Form 4s not detailed in DEF 14A . |
Governance Assessment
- Strengths: Independent director with audit chair credentials at Navient; placed on LINC’s Audit Committee, supporting financial oversight; perfect attendance since appointment; Board structure features independent chair leading regular executive sessions—signals robust oversight .
- Alignment: Director compensation combines cash retainer and time-based restricted stock; Cabral’s ownership is modest (4,348 restricted shares), typical for new directors but limited “skin in the game” until vesting .
- Conflicts/related parties: No related person transactions reported for 2024–2023; 8-K confirms no Item 404(a) relationships for Cabral at appointment; hedging/pledging prohibited—reduces alignment risks .
- Shareholder sentiment: Say-on-pay approval ~93% in 2024, indicating investor support for compensation governance broadly (context for board oversight environment) .
RED FLAGS
- None disclosed: no attendance issues; no related-party transactions; no hedging/pledging; no Section 16(a) delinquencies .
COMMENTS FOR INVESTORS
- Cabral’s audit experience and federal financial oversight background should improve board effectiveness in compliance and risk management; her external role at Navient is relevant given LINC’s student financing environment, but no transactional conflicts are disclosed—monitor future disclosures for any interactions .