Marta Newhart
LINCOLN EDUCATIONAL SERVICESAbout Marta Newhart
Marta Ronquillo Newhart (age 63) joined Lincoln Educational Services’ Board on June 27, 2024 as an independent director. She is a global marketing, communications, and brand leader with executive experience at Westinghouse Electric, Boeing, Johnson Controls, and Medtronic; she currently serves at APCO Worldwide as Independent Director, Enterprise Leader and Chief Marketing, Communications & Brand Officer. She holds a B.A. in International Business and International Communications (University of Washington) and an MBA in Business Management and Marketing (Pepperdine University). Her background includes significant M&A experience (eight transactions at Westinghouse) and two overseas assignments in China and Argentina .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Westinghouse Electric Company | Chief Marketing, Communications & Brand Officer | Not disclosed | Led corporate brand/communications; participated in eight M&A transactions, adding deal and integration expertise |
| Boeing | Senior executive (marketing/communications leadership) | Not disclosed | Large-cap, global manufacturing exposure; international operations experience |
| Johnson Controls | Senior executive | Not disclosed | Industrial and technology portfolio communications/brand leadership |
| Medtronic | Senior executive | Not disclosed | Healthcare technology brand/communications leadership |
| International assignments | Executive postings in China and Argentina | Not disclosed | Cross-border operating and cultural fluency supporting governance of a multi-state education platform |
External Roles
| Organization | Role | Tenure | Description/Committee Service |
|---|---|---|---|
| APCO Worldwide | Independent Director, Enterprise Leader and Chief Marketing, Communications & Brand Officer | Current | Global advisory/advocacy work to leading corporations; expands board perspective on stakeholder engagement and brand risk |
No other current public company directorships for Ms. Newhart were disclosed in LINC’s 8-K announcing her appointment or the 2025 DEF 14A director biographies .
Board Governance
| Attribute | Detail |
|---|---|
| Independence | Independent director under NASDAQ rules; all board committees are fully independent |
| Committee assignments | Nominating & Corporate Governance Committee – Member |
| Committee chair roles | None |
| Attendance | 100% attendance at board and assigned committee meetings from appointment through FY2024; all directors attended, except one N&CG meeting missed by another director (Burke) |
| Appointment date / service | Appointed June 27, 2024; nominated for election with 10-person slate at 2025 AGM |
| Board leadership / executive sessions | Non-Executive Chair (John A. Bartholdson) leads executive sessions of non-employee directors each regular meeting |
Fixed Compensation (Director)
| Component (FY2024) | Amount ($) | Notes |
|---|---|---|
| Annual cash retainer | 27,500 | Pro-rated from 6/27/2024 appointment |
| Nominating & Corporate Governance Committee member fee | 3,000 | Pro-rated |
| Committee chair fees | 0 | Not a chair |
| Meeting fees | 0 | Not disclosed/none stated in structure |
| Equity grant (restricted stock) – grant date fair value | 50,000 | Granted 6/27/2024 upon appointment |
| Total | 80,500 | Sum of cash + equity |
Equity grant details:
- Shares granted: 4,348 RS; grant date: June 27, 2024; grant-date FMV per share: $11.50; vest: May 2, 2025 (first anniversary of 2024 annual grant date) .
Compensation structure reference:
- Standard director structure: $55,000 cash retainer, $60,000 restricted stock, with committee chair/member retainers; Non-Executive Chair additional $40,000 cash/$45,000 stock (pro-rated as applicable) .
Compensation mix signal:
- For 2024, equity comprised ~62% ($50k) and cash ~38% ($30.5k) of Ms. Newhart’s total, indicating alignment with shareholder value via equity-based pay (calculated from disclosed amounts) .
Performance Compensation (Director)
| Performance-linked metrics used in director compensation | Evidence |
|---|---|
| None disclosed; director equity grants are time-based restricted stock (no performance metrics) | Board compensation structure shows cash retainers and time-based restricted stock; no performance conditions noted for directors |
Other Directorships & Interlocks
| Category | Details |
|---|---|
| Current public company boards | None disclosed for Ms. Newhart in LINC filings |
| Private/non-profit/academic boards | Not disclosed in LINC filings for Ms. Newhart |
| Potential interlocks with LINC competitors/suppliers/customers | None disclosed; Audit Committee reviews/approves all related person transactions |
Expertise & Qualifications
- Global large-cap operating expertise in manufacturing and energy sectors; deep brand, communications, and stakeholder management skill set relevant to regulatory and reputational risk in post-secondary education .
- Significant M&A execution experience (eight transactions at Westinghouse), useful for evaluating campus expansions, program launches, and strategic partnerships/M&A .
- International experience (China, Argentina) supports oversight of diverse student populations and outreach strategies .
- Recognitions for leadership and inclusion strengthen human capital and DEI oversight; recent awards cited in appointment press release .
Equity Ownership
| Holder | Shares Beneficially Owned | Ownership % of Outstanding | Vesting/Status |
|---|---|---|---|
| Marta Newhart | 4,348 | <1% | Restricted stock granted 6/27/2024; scheduled to vest 5/2/2025 |
Policy safeguards:
- Code of Conduct prohibits directors and officers from hedging or pledging company securities or holding them in margin accounts, except for limited board-approved exceptions .
Insider Trades
| Item | Disclosure |
|---|---|
| Section 16 compliance (FY2024) | Company reports officers, directors, and 10% holders complied with Section 16(a) filing requirements; no delinquent reports |
| Form 4 transactions for Ms. Newhart | Not disclosed in proxy; no related-person transactions for Ms. Newhart reported in her appointment 8-K (Item 404(a)) |
Governance Assessment
- Independence and committee fit: Newhart is independent and serves on the Nominating & Corporate Governance Committee, directly supporting board composition, director pay, and governance policy oversight—a high-influence committee for shareholder-aligned governance .
- Engagement and attendance: 100% attendance from appointment through FY2024 supports strong engagement; early indication of effective oversight .
- Alignment: Director equity grants (time-based RS) and ownership, while modest in absolute terms (<1%), create direct alignment; the board also restricts hedging/pledging, further protecting alignment with shareholder interests .
- Conflicts: The company reported no related-party transactions with Ms. Newhart at appointment; Audit Committee pre-approves related person transactions and oversees compliance, reducing conflict risk .
- Board-wide signals: Say-on-pay received ~93% support in 2024, suggesting investor confidence in compensation oversight; non-executive chair structure and executive sessions reinforce independent oversight .
RED FLAGS: None identified in company disclosures for Ms. Newhart. Areas to monitor include absolute ownership levels given the pro-rated first-year grant and potential external engagements (APCO) for future related-party transactions, which would fall under existing Audit Committee review protocols .