Lindblad Expeditions (LIND) director sells 56K restricted shares

Rhea-AI Filing Summary

Lindblad Expeditions Holdings director Thomas S. Smith Jr. sold 56,000 shares of restricted stock in an open-market transaction at a weighted average price of $17.5678 per share. The sales occurred across multiple trades between $17.06 and $17.86 per share, and he now holds 45,488 shares directly.

Insider Trade Summary

Net Seller: 56,000 shares ($983,797)

Net Sell 1 txn

Insider Smith, Jr. Thomas S.

Role Director

Sold 56,000 shs ($984K)

Type	Security	Shares	Price	Value
Sale	Restricted Stock	56,000	$17.5678	$984K

Holdings After Transaction: Restricted Stock — 45,488 shares (Direct)

Footnotes (1)

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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^*

Smith, Jr. Thomas S.

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

3. Date of Earliest Transaction (Month/Day/Year)
03/09/2026

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
Restricted Stock	03/09/2026		S		56,000	D	$17.5678(1)	45,488	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 shares were sold in multiple transactions at prices ranging from $17.06 to $17.86, inclusive. The Reporting Person undertakes to provide Lindblad Expeditions Holdings, Inc. (the "Company"), any security holder of the Company, or the staff of the Securities & Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.

	/s/ Thomas S. Smith, Jr. by John J. Wolfel as attorney-in-fact	03/11/2026
	** 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.

FAQ

What insider transaction did Lindblad Expeditions (LIND) disclose for Thomas S. Smith Jr.?

Lindblad Expeditions reported that director Thomas S. Smith Jr. sold 56,000 shares of restricted stock in an open-market transaction. The filing shows this as a planned sale, reducing his direct holdings to 45,488 shares after the transaction.

At what price did the Lindblad Expeditions (LIND) director sell his 56,000 shares?

The 56,000 shares were sold at a weighted average price of $17.5678 per share. A footnote explains the trades occurred in multiple transactions, with individual prices ranging from $17.06 to $17.86 per share during the sale.

How many Lindblad Expeditions (LIND) shares does Thomas S. Smith Jr. hold after this Form 4 sale?

After selling 56,000 shares of restricted stock, Thomas S. Smith Jr. directly holds 45,488 Lindblad Expeditions shares. This post-transaction figure comes from the Form 4 disclosure’s “total shares following transaction” field for his non-derivative ownership position.

What type of security did the Lindblad Expeditions (LIND) insider sell in this Form 4?

The transaction involved restricted stock, categorized as a non-derivative security. The Form 4 identifies the transaction code as “S,” meaning a sale in the open market or a private transaction, rather than an option exercise, gift, or tax withholding event.

Does the Lindblad Expeditions (LIND) Form 4 note how the insider sale was executed?

Yes. The Form 4 classifies the transaction as an open-market sale and includes a footnote stating the reported price is a weighted average. The shares were sold in multiple transactions within a price range of $17.06 to $17.86 per share.