Francis Giglio
LINCOLN EDUCATIONAL SERVICESAbout Francis Giglio
Francis S. Giglio is Senior Vice President of Compliance and Regulatory Services at Lincoln Educational Services (LINC). He joined Lincoln in 2004 and has over 25 years of higher-education experience, including roles at a national accrediting agency and a higher-education association; he leads campus guidance on federal/state regulations and accrediting standards. He holds a bachelor’s degree from the University of Rhode Island and a master’s degree from American University in Washington, DC . Company performance context: FY 2024 revenue grew 16.4% to $440.1M and adjusted EBITDA increased to $42.3M from $26.5M in FY 2023, reflecting execution of growth initiatives .
Company performance (for pay-for-performance context):
| Metric | FY 2022 | FY 2023 | FY 2024 |
|---|---|---|---|
| Revenues ($USD) | $348,287,000 | $378,070,000 | $440,064,000 |
| EBITDA ($USD) | $23,512,000* | $13,431,000* | $27,458,000* |
Values with asterisk retrieved from S&P Global.
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Lincoln Educational Services | SVP, Compliance & Regulatory Services | 2004–present | Leads regulatory/compliance oversight across campuses, aligning operations with federal/state and accrediting standards |
| National accrediting agency (unspecified) | Compliance/Accreditation role | Not disclosed | Contributed to accreditation standards and oversight in higher education |
| Higher-education association (unspecified) | Regulatory/Policy role | Not disclosed | Advanced sector-wide regulatory practices and guidance |
External Roles
No public company board roles or external directorships are disclosed for Mr. Giglio .
Fixed Compensation
Mr. Giglio is not a Named Executive Officer (NEO) in Lincoln’s proxy; detailed base salary, target bonus, and actual bonus paid are not itemized for him. 2024 NEOs were the CEO, CFO, and COO . The company benchmarks salaries with Grant Thornton Advisors LLC and reviews annually; 2024 NEO salary adjustments aligned toward market levels .
Performance Compensation
Individual incentive design for Mr. Giglio is not disclosed. Company-level executive incentive structure (applicable to executive officers and senior management) emphasizes adjusted EBITDA for annual cash bonuses and performance-based restricted stock vesting over three years .
Company executive incentive framework (2024):
| Metric | Weighting | Target | Actual | Payout | Vesting |
|---|---|---|---|---|---|
| Adjusted EBITDA (MIC annual cash bonus) | 100% of target opportunity | Not disclosed | Exceeded target | 105.9% of target paid for NEOs | Annual cash payout; Committee retains discretion but did not exercise it in 2024 |
| Performance-Based Restricted Stock | 50% of long-term equity | Annual adjusted EBITDA targets over 3-year period | Vesting contingent on target achievement | Not disclosed | Vests ratably over three years; “catch-up” vesting eliminated |
Compensation governance highlights: clawback policies for recovery of performance-based cash and equity, cap annual incentive at 200% of target, independent consultant use, and no excise tax gross-ups under 280G/4999 .
Equity Ownership & Alignment
- Hedging and pledging: The Code of Conduct prohibits directors, executive officers, and senior management from hedging company stock or pledging/margining shares; exceptions require Board approval. This policy reduces misalignment and forced-selling risks (margin calls/loan collateral) .
- Stock ownership review: The company annually reviews executive stock holdings to ensure alignment with competitive standards and shareholder interests; specific multiple-of-salary guidelines are not disclosed .
- Beneficial ownership: The 2025 proxy discloses NEOs and directors; Mr. Giglio is not included among disclosed individual beneficial owners, and no personal pledging is reported .
Employment Terms
- Individual employment agreement, severance, and change-in-control terms for Mr. Giglio are not disclosed. NEO agreements include automatic two-year extension upon change-in-control and immediate vesting of equity upon change-in-control; severance multiples vary by role (CEO 2x salary+target bonus; CFO 1.75x; COO 1.5x) with no excise tax gross-ups, and standard non-compete/nonsolicit/confidentiality provisions .
- Insider trading policy governs transactions by directors, officers, employees; designed to promote compliance with laws and listing standards .
- Say-on-pay: Shareholders approved NEO compensation programs (93% approval in 2024; 2025 vote also approved) .
Risk Indicators & Notable Items
- Legal/regulatory involvement: Mr. Giglio is cited in federal student-aid litigation materials via a declaration regarding regulatory processes, indicating active compliance leadership during sector scrutiny .
- Related-party transactions: Company reported no related-person transactions in 2023–2024; broader governance context shows strong practices .
- Insider selling pressure: Direct Form 4 records under Mr. Giglio’s name were not found in public searches during the reviewed period; note the company’s prohibition on hedging/pledging mitigates forced selling risk .
Investment Implications
- Alignment: While Mr. Giglio’s personal pay mix and ownership are not disclosed, Lincoln’s compensation architecture ties cash bonuses and long-term equity to adjusted EBITDA and multi-year vesting, with clawbacks and hedging/pledging bans—features supportive of alignment and lower governance risk .
- Retention risk: Absence of disclosed individual severance/change-in-control terms limits visibility; however, company-wide policies, strong say-on-pay outcomes, and long tenured leadership suggest stable executive retention framework .
- Trading signals: No evidence of hedging/pledging by senior management and no public insider sales by Mr. Giglio reduce near-term selling overhang; company performance momentum (revenue and EBITDA expansion) underpins incentive achievement dynamics tied to adjusted EBITDA .
Sources: Company proxy and governance documents, SEC filings, and investor site pages as cited above.