Lindblad Expeditions (LIND) executive sells 26,460 common shares

Rhea-AI Filing Summary

Lindblad Expeditions Holdings, Inc. executive Trey Byus, the Chief Expedition Officer, reported an open-market sale of 26,460 shares of Common Stock on May 11, 2026. The weighted average sale price was $20.2345 per share, with individual trade prices ranging from $20.05 to $20.70.

After these transactions, Byus directly holds 111,530 shares of Lindblad Expeditions common stock. The filing notes that the reported price is a weighted average and that detailed breakdowns of shares sold at each price within the range are available to the issuer, its shareholders, or SEC staff upon request.

Insider Trade Summary

Net Seller: 26,460 shares ($535,405)

Net Sell 1 txn

Insider Byus Trey

Role Chief Expedition Officer

Sold 26,460 shs ($535K)

Type	Security	Shares	Price	Value
Sale	Common Stock	26,460	$20.2345	$535K

Holdings After Transaction: Common Stock — 111,530 shares (Direct, null)

Footnotes (1)

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Key Figures

Shares sold: 26,460 shares Weighted average sale price: $20.2345 per share Post-transaction holdings: 111,530 shares +1 more

4 metrics

Shares sold 26,460 shares Open-market sale of Common Stock on May 11, 2026

Weighted average sale price $20.2345 per share Average price for reported open-market sale range

Post-transaction holdings 111,530 shares Shares directly owned after the reported sale

Sale price range $20.05–$20.70 per share Range of individual transaction prices within the sale

Key Terms

weighted average price, open-market sale, Common Stock, Form 4

4 terms

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Common Stock financial

""security_title": "Common Stock""

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

Form 4 regulatory

"for all transactions reported in this Form 4 utilizing a weighted average price."

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)
05/11/2026

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	05/11/2026		S		26,460	D	$20.2345(1)	111,530	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. The price reported in Column 4 is a weighted average price. The prices actually received ranged from $20.05 to $20.70. 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 Trey Byus	05/12/2026
	** 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 insider transaction did Lindblad Expeditions (LIND) report for Trey Byus?

Trey Byus reported selling 26,460 Lindblad Expeditions shares. The Chief Expedition Officer executed an open-market sale of Common Stock, as disclosed in a Form 4, reflecting routine portfolio activity rather than a grant or option exercise.

At what price did Trey Byus sell Lindblad Expeditions (LIND) shares?

The reported weighted average sale price was $20.2345 per share. Actual trade prices ranged from $20.05 to $20.70, and the company notes that a detailed breakdown of the number of shares sold at each price is available upon request.

How many Lindblad Expeditions (LIND) shares does Trey Byus hold after the sale?

After the sale, Trey Byus directly holds 111,530 shares. This post-transaction ownership figure, reported in the Form 4, helps investors understand that he retains a substantial equity position in Lindblad Expeditions following the disclosed sale.

What type of transaction did Trey Byus execute in Lindblad Expeditions (LIND) stock?

The filing describes the transaction as an open-market sale. It is coded as a non-derivative sale of Common Stock, indicating direct share sales rather than option exercises, conversions, gifts, or tax-withholding dispositions often seen in other insider filings.

Does the Lindblad Expeditions (LIND) Form 4 explain the sale price details?

Yes, the Form 4 explains that the price is a weighted average. It states that individual sale prices ranged from $20.05 to $20.70 and that detailed trade-level pricing information is available to the issuer, shareholders, or SEC staff upon request.