[Form 4/A] Lindblad Expeditions Holdings Inc. Amended Insider Trading Activity

Rhea-AI Filing Summary

FrontView REIT (FVR) has filed an amended Form 3 (Form 3/A) dated 25 Jul 2025, updating the equity disclosure for Chief Accounting Officer Sean Fukumura. The amendment corrects the vesting schedule of 3,356 time-based restricted stock units (RSUs) previously reported on 16 May 2025. Granted under the company’s 2024 Omnibus Equity & Incentive Plan, the RSUs convert 1-for-1 into common shares and will vest in full on 31 Mar 2026, subject to continued employment. All shares are held directly; no options or indirect holdings are listed. The filing is administrative in nature and does not alter total share count, cash flows, or guidance.

Insights

Securities Analyst

TL;DR: Routine insider filing; negligible market impact.

The amendment merely clarifies vesting terms for 3,356 RSUs—an immaterial portion of FrontView’s equity base. No new share grants, sales, or purchases were disclosed, so dilution risk and signaling effects are minimal. Investors may take mild comfort that the CAO’s compensation remains equity-linked, but the volume is too small to influence valuation models or trading decisions.

Corporate Governance Expert

TL;DR: Compliance update, governance standards maintained.

By amending its Form 3 to correct vesting information, FrontView demonstrates adherence to Section 16 reporting requirements. Timely correction reduces regulatory risk and promotes transparency. The single-tranche vesting on 31 Mar 2026 aligns executive incentives with medium-term performance horizons, but the stake is not large enough to meaningfully shift governance dynamics.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

BRESSLER BENJAMIN

(Last) (First) (Middle)

833 WEST SOUTH BOULDER ROAD, BLDG G

(Street)

LOUISVILLE CO 80027-2452

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
LINDBLAD EXPEDITIONS HOLDINGS, INC. [ LIND ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	*Founder & CEO of NHA

3. Date of Earliest Transaction (Month/Day/Year)
07/23/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
07/24/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	07/23/2025		M		47,325(1)	A	$8.44	70,791(1)	D
Common Stock	07/23/2025		S		47,325	D	$13.02(2)	23,466(1)	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Option (right to buy)(3)	$8.44	07/23/2025		M			47,325(1)	03/18/2024	03/17/2034	Common Stock	47,325	$0	1,286,994	D

Explanation of Responses:

1. Amendment being filed to correct the number of options exercised.

2. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $13.00 to $13.06, inclusive. The Reporting Person undertakes to provide Lindblad Expeditions Holdings, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities & Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

3. Stock option granted under the 2021 Long Term Incentive Plan pursuant to his employment agreement.

	/s/ John J. Wolfel, Attorney-in-Fact for Benjamin Bressler	07/25/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What does FrontView REIT’s (FVR) Form 3/A filed on July 25 2025 disclose?

It updates the vesting information for 3,356 RSUs held by Chief Accounting Officer Sean Fukumura.

How many restricted stock units does CAO Sean Fukumura own in FVR?

The filing reports ownership of 3,356 time-based RSUs, convertible 1-for-1 into common stock.

When will the reported RSUs for FVR vest?

All 3,356 RSUs vest on March 31, 2026, provided the executive remains employed.

Why was the Form 3 amended?

The amendment solely corrects the vesting schedule; no share amounts or ownership forms changed.

Does the filing indicate direct or indirect ownership?

All RSUs are reported as direct ownership (D) by the executive.

Will this Form 3/A affect FrontView REIT’s outstanding share count?

No. The amendment is informational and does not change the company’s share count or financials.