Lindblad exec gets 7,262 RSUs, pays taxes in stock

LINDBLAD EXPEDITIONS HOLDINGS, INC.

Rhea-AI Filing Summary

LINDBLAD EXPEDITIONS HOLDINGS, INC. Chief Expedition Officer Trey Byus received a grant of 7,262 shares of common stock on March 31, 2026, reported as a restricted stock unit award that vests in three equal installments on March 31, 2027, March 31, 2028 and March 31, 2029, subject to continued service.

On the same date and on March 29, 2026, a total of 6,833 shares were withheld to satisfy tax liabilities, which is a non‑market disposition. After these transactions, Byus directly held 129,425 shares of common stock.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider Byus Trey

Role Chief Expedition Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	7,262	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	4,520	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	2,313	$0.00	$0.00

Holdings After Transaction: Common Stock — 129,425 shares (Direct)

Footnotes (1)

1. F1. Represents award of restricted stock units vesting one-third on March 31, 2027, 2028 and 2029, subject to continued service.

Key Figures

RSU grant: 7,262 shares Tax withholding shares: 6,833 shares Post-transaction holdings: 129,425 shares +3 more

6 metrics

RSU grant 7,262 shares Award of restricted stock units on March 31, 2026

Tax withholding shares 6,833 shares Total shares delivered for tax liabilities on March 29 and 31, 2026

Post-transaction holdings 129,425 shares Common stock directly held after reported transactions

March 31 tax withholding 4,520 shares Common stock used for tax payment on March 31, 2026

March 29 tax withholding 2,313 shares Common stock used for tax payment on March 29, 2026

Vesting schedule One-third per year 2027–2029 RSUs vest on March 31, 2027, 2028 and 2029

Key Terms

restricted stock units, tax-withholding disposition, Grant, award, or other acquisition, Payment of exercise price or tax liability by delivering securities

4 terms

restricted stock units financial

"Represents award of restricted stock units vesting one-third on March 31, 2027, 2028 and 2029"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax-withholding disposition financial

"transaction_action: "tax-withholding disposition" for code F entries"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

Grant, award, or other acquisition financial

"transaction_code_description: "Grant, award, or other acquisition" for the A code"

Payment of exercise price or tax liability by delivering securities financial

"transaction_code_description: "Payment of exercise price or tax liability by delivering securities""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What did Lindblad (LIND) executive Trey Byus report in this Form 4?

Trey Byus reported receiving a grant of 7,262 shares of Lindblad common stock as a restricted stock unit award, plus two related tax-withholding dispositions totaling 6,833 shares. These are compensation and tax events rather than open-market stock purchases or sales.

How many Lindblad (LIND) shares did Trey Byus receive in the latest award?

He received 7,262 shares of common stock as a grant, reported under transaction code A. The award is structured as restricted stock units that convert into shares as they vest over three annual installments, subject to his continued service with the company.

When do Trey Byus’s new Lindblad (LIND) restricted stock units vest?

The restricted stock units vest one-third on March 31, 2027, one-third on March 31, 2028, and one-third on March 31, 2029. Each vesting date is conditioned on his continued service, aligning the award with long-term employment and performance.

Why did Trey Byus have tax-withholding transactions in Lindblad (LIND) stock?

Two transactions marked with code F show 6,833 shares delivered to cover tax liabilities. This method uses shares instead of cash to pay required taxes on equity compensation, and is treated as a non-market disposition rather than an open-market stock sale.

How many Lindblad (LIND) shares does Trey Byus hold after these transactions?

Following the grant and tax-withholding dispositions, Trey Byus directly holds 129,425 shares of Lindblad common stock. This figure reflects his updated equity position after accounting for the compensation award and the shares used to satisfy tax obligations.

Are Trey Byus’s Lindblad (LIND) Form 4 transactions open-market buys or sells?

No. The Form 4 shows a grant or award acquisition and tax-withholding dispositions, not open-market purchases or sales. The awarded shares represent equity compensation, while the withheld shares are applied to tax liabilities resulting from that compensation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/01/2026 - 05:39 PM EDT Learn about SEC filing dates

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).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Byus Trey

(Last) (First) (Middle)

C/O LINDBLAD EXPEDITIONS HOLDINGS, INC.

11 W 42ND STREET, SUITE 22B3

(Street)

NEW YORK NEW YORK 10036

(City) (State) (Zip)

UNITED STATES

(Country)

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)
	Chief Expedition Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/29/2026

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

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

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

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	03/29/2026		F		2,313	D	$0	126,683	D
Common Stock	03/31/2026		A(1)		7,262	A	$0	133,945	D
Common Stock	03/31/2026		F		4,520	D	$0	129,425	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

Explanation of Responses:

1. Represents award of restricted stock units vesting one-third on March 31, 2027, 2028 and 2029, subject to continued service.

	/s/ John J. Wolfel, Attorney-in-Fact for Trey Byus	04/01/2026
	** 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.
* Form 4: SEC 1474 (03-26)