Lindblad Expeditions (LIND) insider sells under 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 under a pre-arranged Rule 10b5-1 trading plan. On January 20, 2026, he sold 80,520 shares at a weighted average price of $15.6688, leaving him with 11,703,442 shares held directly.

On January 21, 2026, he sold an additional 75,314 shares at a weighted average price of $16.0349, bringing his directly held stake to 11,628,128 common shares. The filing notes that actual sale prices for each day fell within disclosed ranges and that detailed price breakdowns are available upon request.

Insider Trade Summary

Net Seller: 155,834 shares ($2,469,304)

Net Sell 2 txns

Insider Lindblad Sven-Olof

Role Director, 10% Owner

Sold 155,834 shs ($2.47M)

Type	Security	Shares	Price	Value
Sale	Common Stock	75,314	$16.0349	$1.21M
Sale	Common Stock	80,520	$15.6688	$1.26M

Holdings After Transaction: Common Stock — 11,628,128 shares (Direct)

Footnotes (1)

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 $15.42 to $15.83. 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. 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 $15.47 to $16.34. 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.

Form 4 Insider Transactions: What Each Field Means →

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).

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)
01/20/2026

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	01/20/2026		S		80,520	D	$15.6688(1)	11,703,442	D
Common Stock	01/21/2026		S		75,314	D	$16.0349(2)	11,628,128	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 $15.42 to $15.83. 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 $15.47 to $16.34. 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	01/22/2026
	** 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 involved in this LIND stock transaction?

The insider is Sven-Olof Lindblad, who is both a director and a 10% owner of Lindblad Expeditions Holdings, Inc. (LIND).

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

He sold 80,520 common shares on January 20, 2026 and 75,314 common shares on January 21, 2026, in two separate transactions.

At what prices were the LIND shares sold by Sven-Olof Lindblad?

The January 20, 2026 sale had a weighted average price of $15.6688, with individual prices ranging from $15.42 to $15.83. The January 21, 2026 sale had a weighted average price of $16.0349, with prices ranging from $15.47 to $16.34.

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

After the January 20, 2026 sale, he directly owned 11,703,442 common shares. After the January 21, 2026 sale, his direct holdings were 11,628,128 common shares.

Were the LIND insider stock sales part of a trading plan?

Yes. Both transactions were made under a Rule 10b5-1 trading plan, which is a pre-arranged plan for buying or selling stock according to preset parameters.

How were the sale prices for the LIND transactions calculated?

The prices reported are weighted average prices for each day’s trades. The filing states that more detailed information about the number of shares sold at each price within the disclosed ranges is available to the issuer, its security holders, or SEC staff upon request.