Lindblad Expeditions (LIND) grants 13,767 shares to executive, with tax withholding

Rhea-AI Filing Summary

Lindblad Expeditions Holdings Chief Expedition Officer Trey Byus received 13,767 shares of Common Stock as a stock award, earned from a performance share unit granted on March 31, 2023. On the same date, 5,202 shares were withheld at $17.30 per share to cover tax obligations. After these compensation-related transactions, Byus directly holds 137,990 shares of Lindblad Expeditions common stock, making this a routine equity grant with associated tax withholding rather than an open-market trade.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Byus Trey

Role Chief Expedition Officer

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	13,767	$0.00	--
Tax Withholding	Common Stock	5,202	$17.30	$90K

Holdings After Transaction: Common Stock — 143,192 shares (Direct)

Footnotes (1)

1. [object Object]

Key Figures

Share award: 13,767 shares Tax-withheld shares: 5,202 shares Withholding price: $17.30 per share +1 more

4 metrics

Share award 13,767 shares Common Stock granted as performance-based award on March 31, 2026

Tax-withheld shares 5,202 shares Shares withheld to cover tax liability on March 31, 2026

Withholding price $17.30 per share Price used for tax-withholding disposition of 5,202 shares

Post-transaction holdings 137,990 shares Direct Common Stock holdings after reported transactions

Key Terms

performance share unit, tax-withholding disposition, non-derivative, Form 4

4 terms

performance share unit financial

"Shares earned with respect to a performance share unit awarded March 31, 2023"

A performance share unit (PSU) is a form of executive or employee pay that promises shares (or the cash value of shares) only if the company meets specific performance targets over a set period. Think of it like a bonus cheque that only arrives if the company hits agreed goals — it aligns managers’ rewards with business results and signals to investors how leadership is being incentivized to grow value over time.

tax-withholding disposition financial

"transaction_action: tax-withholding disposition for 5,202 Common Stock shares"

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.

non-derivative financial

"transaction_type: non-derivative for Common Stock entries"

Form 4 financial

"INSIDER FILING DATA (Form 4): reporting transactions by Trey Byus"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

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).

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)
03/31/2026

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	03/31/2026		A(1)		13,767	A	$0	143,192	D
Common Stock	03/31/2026		F		5,202	D	$17.3	137,990	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. Shares earned with respect to a performance share unit awarded March 31, 2023.

Remarks:

*Founder and CEO of Natural Habitat Adventures

	/s/ John J. Wolfel, Attorney-in-Fact for Trey Byus	04/09/2026
	** 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)

FAQ

What did Trey Byus report in this Form 4 for LIND?

Trey Byus reported receiving 13,767 shares of Lindblad Expeditions common stock as a stock award, with 5,202 shares withheld to cover taxes. These transactions reflect routine equity compensation rather than open-market buying or selling activity.

How many LIND shares did Trey Byus receive as an award?

Trey Byus received 13,767 shares of Lindblad Expeditions common stock as an award. The shares were earned from a performance share unit originally granted on March 31, 2023, reflecting previously set performance goals rather than a new cash investment.

Why were 5,202 LIND shares disposed of in this filing?

The 5,202 Lindblad Expeditions shares were withheld to satisfy tax obligations tied to the share award. This tax-withholding disposition is coded "F" and is not an open-market sale, but a standard method to pay required taxes on equity compensation.

How many Lindblad Expeditions (LIND) shares does Trey Byus now hold?

Following the reported transactions, Trey Byus directly holds 137,990 shares of Lindblad Expeditions common stock. This figure reflects his position after receiving 13,767 shares as an award and having 5,202 shares withheld for associated tax liabilities.

What is the significance of the performance share unit mentioned for LIND?

The filing notes the shares were earned from a performance share unit awarded on March 31, 2023. That means the 13,767 shares represent compensation tied to earlier performance criteria, not a current purchase, aligning the award with prior company performance targets.