Lindblad executive receives stock grant; tax withheld

Lindblad Expeditions Holdings executive Benjamin Bressler reported routine equity compensation activity.

Rhea-AI Filing Summary

Lindblad Expeditions Holdings executive Benjamin Bressler reported routine equity compensation activity. He received 5,780 shares of Common Stock on March 31, 2026 as a restricted stock unit award that vests in three equal installments on March 31, 2027, 2028 and 2029, subject to continued service.

On the same date, 2,311 shares were disposed of as a tax-withholding transaction, meaning shares were withheld to cover associated tax obligations rather than sold in the open market. Following these transactions, he directly held 26,935 shares of Common Stock. He also holds a stock option granted under the 2021 Long Term Incentive Plan, covering 771,863 underlying shares of Common Stock at an exercise price of $17.65 per share, exercisable from March 10, 2026 until expiration on March 10, 2036.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider BRESSLER BENJAMIN

Role *Founder & CEO of NHA

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	5,780	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	2,311	$0.00	$0.00
holding	Stock Option (right to buy	--	--	--

Holdings After Transaction: Common Stock — 26,935 shares (Direct); Stock Option (right to buy — 771,863 contracts (Direct)

Footnotes (2)

1. F1. Represents award of restricted stock units vesting one-third on March 31, 2027, 2028 and 2029, subject to continued service.
2. F2. Stock option granted under the 2021 Long Term Incentive Plan pursuant to his employment agreement.

Key Figures

Equity award: 5,780 shares Tax-withholding shares: 2,311 shares Common shares held: 26,935 shares +3 more

6 metrics

Equity award 5,780 shares Restricted stock unit grant on March 31, 2026

Tax-withholding shares 2,311 shares Shares disposed to cover tax liability on March 31, 2026

Common shares held 26,935 shares Direct ownership after reported transactions

Option underlying shares 771,863 shares Underlying Common Stock for outstanding stock option

Option exercise price $17.65 per share Exercise price for stock option granted under 2021 Plan

Option term March 10, 2026 to March 10, 2036 Exercisable period for stock option

Key Terms

restricted stock units, tax-withholding disposition, Stock Option (right to buy, Long Term Incentive Plan

4 terms

restricted stock units financial

"Represents award of restricted stock units vesting one-third on March 31, 2027, 2028 and 2029"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax-withholding disposition financial

"transaction_action: tax-withholding disposition for 2,311 shares of Common Stock"

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.

Stock Option (right to buy financial

"security_title: Stock Option (right to buy with underlying Common Stock"

Long Term Incentive Plan financial

"Stock option granted under the 2021 Long Term Incentive Plan pursuant to his employment agreement"

A long term incentive plan is a company program that awards executives and key employees bonuses—often in stock, options, or cash—only if the business meets multi-year performance goals. It links management pay to company results—like tying a coach’s bonus to a team’s multi-season record—so investors monitor it for how leaders are motivated, potential share dilution, and signals about the company’s long-term priorities.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transactions did Benjamin Bressler report for LIND on March 31, 2026?

Benjamin Bressler reported receiving 5,780 shares of Lindblad Expeditions Holdings Common Stock as an equity award and a 2,311-share tax-withholding disposition. These actions reflect compensation-related activity, not open-market buying or selling of LIND shares.

How do the 5,780 LIND shares granted to Benjamin Bressler vest over time?

The 5,780-share award represents restricted stock units vesting one-third on March 31, 2027, 2028 and 2029. Vesting is contingent on Benjamin Bressler’s continued service, so the shares are earned gradually rather than all at once.

What does the 2,311-share tax-withholding transaction mean for LIND insider Bressler?

The 2,311-share transaction is a tax-withholding disposition, where shares are surrendered to cover tax obligations on the equity award. It is not an open-market sale and does not represent discretionary selling of LIND stock by Benjamin Bressler.

How many Lindblad (LIND) shares does Benjamin Bressler hold after these transactions?

After the March 31, 2026 transactions, Benjamin Bressler holds 26,935 shares of Lindblad Expeditions Holdings Common Stock directly. This figure reflects his position following the equity grant and the related tax-withholding share disposition.

What stock options related to LIND does Benjamin Bressler hold?

Benjamin Bressler holds a stock option under the 2021 Long Term Incentive Plan covering 771,863 underlying LIND shares at an exercise price of $17.65. The option is exercisable from March 10, 2026 and expires March 10, 2036.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/01/2026 - 05:32 PM Learn about SEC filing dates

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^*

BRESSLER BENJAMIN

(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)
	*Founder & CEO of NHA

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)		5,780	A	$0	29,246	D
Common Stock	03/31/2026		F		2,311	D	$0	26,935	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
Stock Option (right to buy(2)	$17.65							03/10/2026	03/10/2036	Common Stock	771,863		771,863	D

Explanation of Responses:

1. Represents award of restricted stock units vesting one-third on March 31, 2027, 2028 and 2029, subject to continued service.

2. Stock option granted under the 2021 Long Term Incentive Plan pursuant to his employment agreement.

Remarks:

*Founder and CEO of Natural Habitat Adventures

	/s/ John J. Wolfel, Attorney-in-Fact for Benjamin Bressler	04/01/2026
	** 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)