Lindblad (LIND) Officer Exercises Options and Sells Shares on Aug 25
Rhea-AI Filing Summary
Benjamin Bressler, an officer of Lindblad Expeditions Holdings, Inc. (LIND), exercised stock options and sold the resulting shares on August 25, 2025. He exercised 24,564 options with an $8.44 exercise price, acquiring 24,564 shares. Those 24,564 shares were sold the same day in multiple transactions at a weighted-average price of $15.02 per share (sales ranged from $15.00 to $15.06). After these transactions, the Form 4 reports 864,983 shares underlying derivative securities beneficially owned and either 48,030 or 23,466 shares reported in the non-derivative section following transactions; the form documents both the acquisition and sale of 24,564 common shares and includes an undertaking to provide details of the individual sale prices on request.
Positive
- Transparent disclosure of option exercise and subsequent sales with an undertaking to provide trade-level price details upon request
- Transaction flagged as pursuant to a 10b5-1 plan, indicating pre-arranged trading intent
Negative
- None.
Insights
TL;DR: Officer exercised options and immediately sold the acquired shares, realizing the spread between $8.44 and ~$15.02.
The filing shows a routine section 16 transaction: on 08/25/2025 Benjamin Bressler exercised 24,564 options at an $8.44 exercise price and sold the same number of shares at a weighted-average price of $15.02. The disclosure notes multiple sale prices within $15.00–$15.06 and offers to furnish the per-trade breakdown. This is a standard option exercise followed by disposition and is documented under a 10b5-1 plan checkbox. The reported post-transaction beneficial ownership figures are provided in the form.
TL;DR: Transaction appears compliant and transparently disclosed, with offer to provide trade-level details.
The Form 4 indicates compliance with disclosure rules: exercise under the 2021 Long Term Incentive Plan is identified and the reporting person has an attorney-in-fact signature. The filer checked the box indicating the trade was made pursuant to a written plan intended to meet Rule 10b5-1(c) affirmative defense conditions. The form includes an explanation regarding weighted-average sale price and a commitment to provide specifics on request, which supports transparency for investors and regulators.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | Stock Option (right to buy) | 24,564 | $0.00 | -- |
| Exercise | Common Stock | 24,564 | $8.44 | $207K |
| Sale | Common Stock | 24,564 | $15.02 | $369K |
Footnotes (1)
- The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $15.00 to $15.06, 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. Stock option granted under the 2021 Long Term Incentive Plan pursuant to his employment agreement.
