Lindblad insider sells shares under 10b5-1 plan

Lindblad Expeditions Holdings, Inc. director and 10% owner Sven-Olof Lindblad reported planned sales of common stock under a Rule 10b5-1 trading plan.

Rhea-AI Filing Summary

Lindblad Expeditions Holdings, Inc. director and 10% owner Sven-Olof Lindblad reported planned sales of common stock under a Rule 10b5-1 trading plan. On February 2, 2026, he sold 114,659 shares at a weighted average price of $17.1796 and 118,846 shares at $17.3515.

On February 3, 2026, he sold an additional 127,310 shares at a weighted average price of $17.3845. After these transactions, he beneficially owned 10,811,964 common shares directly. For each trade, actual sale prices fell within stated ranges around the reported weighted averages.

Insider Trade Summary

Net Seller: 360,815 shares

Net Sell 3 txns

Insider Lindblad Sven-Olof

Role Director, 10% Owner

Sold 360,815 shs ($6.25M)

Type	Security	Shares	Price	Value
Sale	Common Stock	127,310	$17.3845	$2.21M
Sale	Common Stock	114,659	$17.1796	$1.97M
Sale	Common Stock	118,846	$17.3515	$2.06M

Holdings After Transaction: Common Stock — 10,811,964 shares (Direct)

Footnotes (3)

1. F1. 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 $16.30 to $17.30. 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. F2. 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 $17.31 to $17.50. 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.
3. F3. 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 $17.08 to $17.72. 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.

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Accepted by SEC EDGAR 02/04/2026 - 04:51 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).

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)
02/02/2026

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	02/02/2026		S		114,659	D	$17.1796(1)	11,058,120	D
Common Stock	02/02/2026		S		118,846	D	$17.3515(2)	10,939,274	D
Common Stock	02/03/2026		S		127,310	D	$17.3845(3)	10,811,964	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 $16.30 to $17.30. 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 $17.31 to $17.50. 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.

3. 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 $17.08 to $17.72. 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	02/04/2026
	** 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.