Lindblad (NASDAQ: LIND) director trims stake with 7,768-share sale

Rhea-AI Filing Summary

Lindblad Expeditions Holdings director John M. Fahey Jr. sold 7,768 shares of Restricted Stock in an open-market transaction at a weighted average price of $17.6613 per share. After this sale, he directly holds 122,986 shares, so the transaction reflects only a modest reduction in his position.

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).

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^*

FAHEY JOHN M JR

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

3. Date of Earliest Transaction (Month/Day/Year)
03/10/2026

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
Restricted Stock	03/10/2026		S		7,768	D	$17.6613(1)	122,986	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. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $17.52 to $17.77, 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.

	/s/ John J. Wolfel, Attorney-in-Fact for John M. Fahey Jr	03/11/2026
	** 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 did Lindblad Expeditions (LIND) director John M. Fahey Jr. report in this Form 4?

John M. Fahey Jr., a director of Lindblad Expeditions, reported an open-market sale of 7,768 shares of Restricted Stock. The weighted average sale price was about $17.6613 per share, and he continues to hold 122,986 shares directly after the transaction.

How many Lindblad Expeditions (LIND) shares did the director sell and at what price?

The director sold 7,768 shares of Restricted Stock. The filing states a weighted average sale price of $17.6613 per share, with individual trades executed in a price range from $17.52 to $17.77, according to the accompanying footnote.

How many Lindblad Expeditions (LIND) shares does the director hold after this Form 4 sale?

Following the reported sale, John M. Fahey Jr. directly owns 122,986 Lindblad Expeditions shares. This remaining stake, disclosed in the filing’s post-transaction holdings column, indicates that the 7,768 shares sold represent only a small portion of his overall position.

Was the Lindblad Expeditions (LIND) director’s share sale a single trade or multiple trades?

The filing notes the price is a weighted average, meaning the 7,768 shares were sold in multiple transactions. These trades occurred at prices ranging from $17.52 to $17.77 per share, as detailed in the Form 4 footnote language.

Does the Lindblad Expeditions (LIND) Form 4 mention a Rule 10b5-1 trading plan?

The provided Form 4 footnote explains that the reported price is a weighted average across several trades but does not reference a Rule 10b5-1 trading plan. The disclosure instead focuses on the price range and the availability of detailed trade information upon request.