Lindblad (LIND) Form 4 — 8,899 Restricted Shares Granted to Director

Rhea-AI Filing Summary

John M. Fahey Jr, identified as a director of Lindblad Expeditions Holdings, Inc. (LIND), was granted restricted stock under the company's Long-Term Incentive Plan on 08/08/2025. The Form 4 reports an acquisition of 8,899 restricted shares at a reported price of $12.36 per share, and the grant is stated to vest one year from the date of grant, subject to continued service.

Following the reported transaction the filing shows Mr. Fahey beneficially owns 132,653 shares, held directly. The Form 4 was submitted by a single reporting person and includes an attorney-in-fact signature on the filing.

Positive

• Restricted stock grant has a clear, one-year service-based vesting schedule under the Long-Term Incentive Plan

Negative

• None.

Insights

Financial Analyst

TL;DR: Director received an 8,899-share restricted stock grant at $12.36; post-transaction direct beneficial ownership is 132,653 shares.

The filing documents a routine equity award under the Long-Term Incentive Plan recorded on 08/08/2025. Key explicit facts are the grant size (8,899 shares), the per-share price ($12.36) and the one-year service-based vesting schedule. The report shows direct beneficial ownership of 132,653 shares after the transaction. Based solely on the filing details, this is an equity-compensation event without additional disclosed contingencies or derivative components.

Corporate Governance Expert

TL;DR: Grant is described as restricted stock with one-year vesting under the LTIP; the Form 4 reports direct ownership post-grant.

The disclosure specifies the award is restricted stock granted under the company's Long-Term Incentive Plan and that vesting is one year from grant subject to continued service. The filing identifies the reporting person as a director and records the after-transaction beneficial ownership figure. All observations are limited to the explicit entries in the Form 4; no additional governance actions or changes are disclosed in this document.

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

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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^*

FAHEY JOHN M JR

(Last) (First) (Middle)

C/O LINDBLAD EXPEDITIONS HOLDING, INC.

96 MORTON STREET, 9TH FLOOR

(Street)

NEW YORK NY 10014

(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		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/08/2025

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
Restricted Stock	08/08/2025		A(1)		8,899	A	$12.36	132,653	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. Restricted stock granted under Long-Term Incentive Plan. The restricted stock vests one year from the date of grant, subject to continued service.

	/s/ John J. Wolfel, Attorney-in-Fact for John M. Fahey Jr	08/12/2025
	** 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

What transaction did the Form 4 report for Lindblad Expeditions (LIND)?

Restricted stock grant of 8,899 shares reported as acquired on 08/08/2025 under the Long-Term Incentive Plan.

Who is the reporting person on the Form 4 for LIND?

John M. Fahey Jr, identified in the filing as a director of Lindblad Expeditions Holdings, Inc.

What are the vesting terms of the restricted stock reported on the Form 4?

The restricted stock vests one year from the date of grant, subject to continued service, per the filing explanation.

What price per share is listed for the restricted stock on the Form 4?

$12.36 per share is the price reported in the transaction table of the filing.

How many shares does John M. Fahey Jr beneficially own after the reported transaction?

132,653 shares are reported as beneficially owned following the transaction, shown as direct ownership in the filing.