Lindblad Expeditions (LIND) officer sells 10,000 shares in open market

Rhea-AI Filing Summary

LINDBLAD EXPEDITIONS HOLDINGS, INC. Chief Expedition Officer Trey Byus reported an open-market sale of 10,000 shares of common stock at $20.05 per share. After this transaction, he directly owns 101,530 shares, indicating he retains a substantial equity stake in the company.

Insider Trade Summary

Net Seller: 10,000 shares ($200,500)

Net Sell 1 txn

Insider Byus Trey

Role Chief Expedition Officer

Sold 10,000 shs ($201K)

Type	Security	Shares	Price	Value
Sale	Common Stock	10,000	$20.05	$201K

Holdings After Transaction: Common Stock — 101,530 shares (Direct, null)

Footnotes (1)

Key Figures

Shares sold: 10,000 shares Sale price: $20.05 per share Shares owned after: 101,530 shares

3 metrics

Shares sold 10,000 shares Open-market sale of common stock

Sale price $20.05 per share Price for the 10,000-share sale

Shares owned after 101,530 shares Direct holdings following the transaction

Key Terms

open-market sale, Common Stock, Form 4, transaction code "S"

4 terms

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

"INSIDER FILING DATA (Form 4)"

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.

transaction code "S" financial

"transaction_code_description: "Sale in open market or private transaction""

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)
05/21/2026

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	05/21/2026		S		10,000	D	$20.05	101,530	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:

	/s/ John J. Wolfel, Attorney-in-Fact for Trey Byus	05/22/2026
	** 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 LIND Chief Expedition Officer report?

Trey Byus reported an open-market sale of 10,000 Lindblad Expeditions common shares at $20.05 per share. The Form 4 shows this as a sale in the open market or a private transaction, coded as an S transaction.

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

After the reported sale, Trey Byus directly owns 101,530 Lindblad Expeditions common shares. This figure reflects his position following the 10,000-share disposition disclosed in the Form 4 insider filing.

Was the Lindblad (LIND) insider trade a buy or sell?

The Form 4 shows a sell transaction. Trey Byus executed an open-market sale of 10,000 shares of Lindblad Expeditions common stock, with the transaction coded “S” for sale in open market or private transaction.

What price did the Lindblad (LIND) insider receive per share?

The reported transaction price was $20.05 per share. This price applies to the 10,000 Lindblad Expeditions common shares sold in the open-market transaction disclosed in the Form 4 filing.

Does the Lindblad insider sale involve derivative securities or options?

No derivative securities are shown in this Form 4 excerpt. The filing reports a single non-derivative transaction in Lindblad Expeditions common stock, with no accompanying option exercises or other derivative activity.