Lindblad (LIND) Form 144: 200,700-Share Sale Notice, $2.84M

Rhea-AI Filing Summary

Form 144 notice for Lindblad Expeditions Holdings, Inc. (LIND) shows a proposed sale of 200,700 common shares through Wells Fargo Clearing Services on Nasdaq with an aggregate market value of $2,839,963.63 and approximately 54,789,150 shares outstanding. The filing states the shares were acquired on 08/22/2025 via non-qualified stock options and payment was made by wire on the same date. The filer reported multiple recent sales by Benjamin Bressler between 07/23/2025 and 08/20/2025 totaling 262,072 shares with combined gross proceeds of $3,879,631.57. The notice includes the standard attestation that the seller is not aware of undisclosed material adverse information.

Insights

Securities Analyst

TL;DR: Routine insider exercise and sale disclosed; transaction size is notable but filing alone is not conclusive about company fundamentals.

This Form 144 documents an insider acquisition by option exercise and a proposed brokered sale of 200,700 shares valued at $2.84 million, plus multiple recent sales by the same person totaling 262,072 shares and $3.88 million proceeds. Such filings are standard for compliance when insiders sell stock after option exercises. The immediate implications depend on relative size versus insider holdings and company market capitalization, which are not provided here. As presented, the filing provides transparency on insider liquidity but does not disclose reasons for sale or operational information about the issuer.

Corporate Governance Expert

TL;DR: Disclosure meets Rule 144 requirements; attestation reduces regulatory risk but raises routine governance questions about insider selling.

The filing indicates the seller represented there is no undisclosed material adverse information and relied on normal Rule 144 procedures. The combination of an option exercise and immediate market sales is a common mechanism for insiders to monetize equity. From a governance perspective, the filing is appropriately executed and reduces procedural risk, though repeated insider sales over a short period could prompt investor questions about timing and signaling. The document does not provide any indication of misconduct or violation.

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	200700	2839963.63	54789150	08/22/2025	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	08/22/2025	Non-Qualified Stock Options	Issuer			200700	08/22/2025	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

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 the Form 144 filed for LIND disclose about the proposed sale?

The filing discloses a proposed sale of 200,700 common shares through Wells Fargo with an aggregate market value of $2,839,963.63 to occur on 08/22/2025 on Nasdaq.

How were the 200,700 LIND shares acquired according to the filing?

The shares were acquired on 08/22/2025 via non-qualified stock options from the issuer, with payment made by wire on the same date.

Does the filing show any recent LIND sales by the same person?

Yes. The filer, Benjamin Bressler, reported sales between 07/23/2025 and 08/20/2025 totaling 262,072 shares and $3,879,631.57 in gross proceeds.

What attestation does the seller make in the Form 144 for LIND?

The seller represents they do not know of any material adverse information about the issuer that has not been publicly disclosed.

Through which broker will the LIND shares be sold?

The proposed sale is to be executed through Wells Fargo Clearing Services located at 1 N. Jefferson Ave., St. Louis, MO.