Sven-Olof Lindblad (LIND) sells 183,639 shares under 10b5-1 plan

Rhea-AI Filing Summary

Lindblad Expeditions Holdings director and 10% owner Sven-Olof Lindblad reported two stock sales under a pre-arranged Rule 10b5-1 trading plan. On January 29, 2026, he sold 105,356 common shares at a weighted average price of $16.8405, leaving 11,251,062 shares owned directly. On January 30, 2026, he sold another 78,283 shares at a weighted average price of $16.6594, bringing his directly held stake to 11,172,779 common shares.

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

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

X

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^*

Lindblad Sven-Olof

(Last) (First) (Middle)

C/O LINDBLAD EXPEDITIONS HOLDINGS, INC.

11 W 42ND STREET, SUITE 22B3

(Street)

NEW YORK NY 10036

(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)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
01/29/2026

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

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	01/29/2026		S		105,356	D	$16.8405(1)	11,251,062	D
Common Stock	01/30/2026		S		78,283	D	$16.6594(2)	11,172,779	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. Sales were made pursuant to a Rule 10b5-1 trading plan. The price reported in Column 4 is a weighted average price. The prices actually received ranged from $16.50 to $17.05. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.

2. Sales were made pursuant to a Rule 10b5-1 trading plan. The price reported in Column 4 is a weighted average price. The prices actually received ranged from $16.42 to $16.82. The reporting person has provided to the issuer, and will provide to any security holder of the issuer, or the SEC staff, upon request, information regarding the number of shares sold at each price within the range for all transactions reported in this Form 4 utilizing a weighted average price.

	/s/ John J. Wolfel, Attorney-in-Fact for Sven-Olof Lindblad	02/02/2026
	** 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.

FAQ

Who is the insider trading LIND stock in this Form 4?

The Form 4 reports transactions by Sven-Olof Lindblad, a director and 10% owner of Lindblad Expeditions Holdings, Inc. He reported sales of the company’s common stock while still retaining over 11 million shares held directly after the reported trades.

How many Lindblad Expeditions (LIND) shares did Sven-Olof Lindblad sell?

Sven-Olof Lindblad sold a total of 183,639 Lindblad Expeditions common shares across two days. He sold 105,356 shares on January 29, 2026, and 78,283 shares on January 30, 2026, according to the reported non-derivative transactions.

At what prices were the LIND shares sold in this Form 4 filing?

The shares were sold at weighted average prices under a trading plan. On January 29, 2026, the weighted average sale price was $16.8405, with actual prices between $16.50 and $17.05. On January 30, 2026, the weighted average was $16.6594, within $16.42–$16.82.

How many LIND shares does Sven-Olof Lindblad own after these transactions?

After the reported sales, Sven-Olof Lindblad directly owns 11,172,779 shares of Lindblad Expeditions common stock. This figure reflects his holdings following the January 30, 2026 transaction, as disclosed in the Form 4’s beneficial ownership column.

Were the LIND insider sales part of a Rule 10b5-1 trading plan?

Yes. The Form 4 notes that both sales were made under a Rule 10b5-1 trading plan. Such plans allow insiders to pre-schedule trades, helping separate routine portfolio management from trades based on potential nonpublic information.

Does the Form 4 show any derivative security trades for LIND?

No derivative security transactions are reported. The Form 4’s table for derivative securities is present but contains no entries, indicating that the disclosed activity relates only to non-derivative common stock sales during the stated dates.