Insider Sven-Olof Lindblad (NASDAQ: LIND) sells 78,969 shares via 10b5-1 plan

Rhea-AI Filing Summary

Sven-Olof Lindblad, a director and 10% owner of Lindblad Expeditions Holdings, Inc., sold shares of the company’s common stock in two planned transactions under a Rule 10b5-1 trading plan. On January 23, 2026, he sold 36,066 shares at a weighted average price of $16.0834 per share, leaving him with 11,529,962 shares beneficially owned directly. On January 26, 2026, he sold an additional 42,903 shares at a weighted average price of $16.0324 per share, resulting in 11,487,059 shares of common stock beneficially owned directly after the transactions. The prices for each date reflect weighted averages across trades executed within disclosed intraday price ranges.

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

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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)
01/23/2026

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	01/23/2026		S		36,066	D	$16.0834(1)	11,529,962	D
Common Stock	01/26/2026		S		42,903	D	$16.0324(2)	11,487,059	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 $15.88 to $16.40. 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 $15.65 to $16.15. 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	01/26/2026
	** 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

What insider activity did LIND report in this Form 4?

The filing shows that Sven-Olof Lindblad, a director and 10% owner of Lindblad Expeditions Holdings, Inc. (LIND), sold common stock in two separate transactions on January 23, 2026 and January 26, 2026 under a Rule 10b5-1 trading plan.

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

He sold 36,066 shares of common stock on January 23, 2026 and 42,903 shares on January 26, 2026, for a combined total of 78,969 shares sold across the two dates.

What prices did Sven-Olof Lindblad receive for his LIND share sales?

On January 23, 2026, the weighted average sale price was $16.0834 per share, with individual trade prices ranging from $15.88 to $16.40. On January 26, 2026, the weighted average sale price was $16.0324 per share, with trades ranging from $15.65 to $16.15.

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

After the January 23, 2026 sales, he beneficially owned 11,529,962 shares of common stock directly. Following the additional sales on January 26, 2026, his direct beneficial ownership was 11,487,059 shares.

Were the LIND insider sales discretionary or pre-planned?

The filing states that the sales on both January 23, 2026 and January 26, 2026 were made pursuant to a Rule 10b5-1 trading plan, indicating they were executed according to a pre-established trading program.

Does the Form 4 explain how the reported sale prices for LIND shares were calculated?

Yes. For each transaction date, the reported price is described as a weighted average price, and the filing notes that detailed information on the number of shares sold at each specific price within the stated ranges is available from the reporting person upon request.