Lindblad (LIND) Insider Sales: 444,772 Shares Sold Recently; New 24,564-Share Notice

Rhea-AI Filing Summary

Lindblad Expeditions Holdings Inc. submitted a Form 144 reporting a proposed sale of 24,564 common shares via Wells Fargo Clearing Services on Nasdaq, with an aggregate market value of $367,923.37 and an approximate sale date of 08/25/2025. The filing indicates these shares were acquired the same day through non-qualified stock options from the issuer and paid by wire.

The notice also lists recent open-market dispositions by the same account totaling 444,772 shares sold across July–August 2025 for gross proceeds of $3,772,600.20. The filer certifies no undisclosed material adverse information.

Positive

• Compliance: Form 144 filed, providing transparent disclosure of proposed sale and recent transactions
• Source of Shares: Shares acquired via non-qualified stock options and paid by wire, indicating exercise-to-sale liquidity rather than external transfer

Negative

• Insider selling volume: 444,772 shares sold in the past three months totaling about $3.77 million, which may concern some investors
• Concentration of recent sales: Multiple large transactions in July–August 2025 could be perceived as active monetization of insider holdings

Insights

Securities Analyst

TL;DR: Insider sold sizeable share blocks recently; proposed block is modest relative to recent sales but notable for compliance and liquidity effects.

The filing documents a proposed sale of 24,564 shares valued at $367,923 and reports 444,772 shares sold in the prior three months for about $3.77 million. Those prior sales equal roughly 0.81% of the reported 54,789,150 outstanding shares, indicating meaningful insider liquidity but not a controlling disposition. The current sale appears executed under option exercise and immediate sale, which is common for option holders converting compensation into cash. For investors, this is a routine disclosure showing insider monetization rather than a change in control or operational signal.

Corporate Governance Expert

TL;DR: The filing reflects standard insider selling under Rule 144 and includes a representation of no undisclosed material information.

The notice complies with Rule 144 reporting requirements and identifies the securities as acquired by non-qualified stock options and sold through a broker. The filing's explicit certification that the seller is unaware of undisclosed material adverse information is standard and important for legal protections. Multiple sales over a short window suggest active disposition of holdings, which governance-focused investors may monitor for pattern but, based on the disclosed volumes, it does not indicate governance or control issues.

Form 144 Filer Information	UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 144 NOTICE OF PROPOSED SALE OF SECURITIES PURSUANT TO RULE 144 UNDER THE SECURITIES ACT OF 1933
FORM 144

144: Filer Information

Filer CIK
Filer CCC
Is this a LIVE or TEST Filing?	LIVE TEST
Submission Contact Information
Name
Phone
E-Mail Address

144: Issuer Information

Name of Issuer

SEC File Number

Address of Issuer

Phone

Name of Person for Whose Account the Securities are To Be Sold

See the definition of "person" in paragraph (a) of Rule 144. Information is to be given not only as to the person for whose account the securities are to be sold but also as to all other persons included in that definition. In addition, information shall be given as to sales by all persons whose sales are required by paragraph (e) of Rule 144 to be aggregated with sales for the account of the person filing this notice.

Relationship to Issuer

144: Securities Information

Title of the Class of Securities To Be Sold	Name and Address of the Broker	Number of Shares or Other Units To Be Sold	Aggregate Market Value	Number of Shares or Other Units Outstanding	Approximate Date of Sale	Name the Securities Exchange
Common	Wells Fargo Clearing Services 1 N. Jefferson Ave. St. Louis MO 63103	24564	367923.37	54789150	08/25/2025	Nasdaq

Furnish the following information with respect to the acquisition of the securities to be sold and with respect to the payment of all or any part of the purchase price or other consideration therefor:

144: Securities To Be Sold

Title of the Class	Date you Acquired	Nature of Acquisition Transaction	Name of Person from Whom Acquired	Is this a Gift?	Date Donor Acquired	Amount of Securities Acquired	Date of Payment	Nature of Payment *
Common	08/25/2025	Non-Qualified Stock Options	Issuer			24564	08/25/2025	Wire

* If the securities were purchased and full payment therefor was not made in cash at the time of purchase, explain in the table or in a note thereto the nature of the consideration given. If the consideration consisted of any note or other obligation, or if payment was made in installments describe the arrangement and state when the note or other obligation was discharged in full or the last installment paid.

Furnish the following information as to all securities of the issuer sold during the past 3 months by the person for whose account the securities are to be sold.

144: Securities Sold During The Past 3 Months

Name and Address of Seller	Title of Securities Sold	Date of Sale	Amount of Securities Sold	Gross Proceeds
Benjamin Bressler 96 MORTON STREET 9th Floor NEW YORK NY 10014	LIND Common Shares	07/23/2025	47325	614322.86
Benjamin Bressler 96 MORTON STREET 9th Floor New York NY 10014	LIND Common Shares	08/04/2025	7567	98471.23
Benjamin Bressler 96 MORTON STREET 9th Floor New York NY 10014	LIND Common Shares	08/05/2025	167494	2179456.66
Benjamin Bressler 96 MORTON STREET 9th Floor NEW YORK NY 10014	LIND Common Shares	08/19/2025	809	11286.64
Benjamin Bressler 96 MORTON STREET 9th Floor NEW YORK NY 10014	LIND Common Shares	08/20/2025	20877	292119.18
Benjamin Bressler 96 MORTON STREET 9th Floor NEW YORK NY 10014	LIND Common Shares	08/22/2025	200700	2839963.63

144: Remarks and Signature

Remarks

Date of Notice

Date of Plan Adoption or Giving of Instruction, If Relying on Rule 10b5-1

ATTENTION:

The person for whose account the securities to which this notice relates are to be sold hereby represents by signing this notice that he does not know any material adverse information in regard to the current and prospective operations of the Issuer of the securities to be sold which has not been publicly disclosed. If such person has adopted a written trading plan or given trading instructions to satisfy Rule 10b5-1 under the Exchange Act, by signing the form and indicating the date that the plan was adopted or the instruction given, that person makes such representation as of the plan adoption or instruction date.

Signature

ATTENTION: Intentional misstatements or omission of facts constitute Federal Criminal Violations (See 18 U.S.C. 1001)

FAQ

What does Lindblad Expeditions (LIND) Form 144 report?

The filing reports a proposed sale of 24,564 common shares (aggregate value $367,923.37) and lists prior sales totaling 444,772 shares for about $3,772,600.20.

Were the shares being sold by the insider newly acquired or previously owned?

The shares reported for the proposed sale were acquired on 08/25/2025 through non-qualified stock options and paid for by wire.

Through which broker will the LIND shares be sold?

The proposed sale is listed through Wells Fargo Clearing Services with an approximate sale date of 08/25/2025 on Nasdaq.

How large were the recent insider sales relative to outstanding shares?

Recent sales of 444,772 shares represent about 0.81% of the reported 54,789,150 shares outstanding.

Does the Form 144 indicate any undisclosed material information?

The signer represents they do not know any material adverse information that has not been publicly disclosed.