Lindblad (NASDAQ: LIND) insider Bressler sells 87,478 shares after option exercise

Rhea-AI Filing Summary

Lindblad Expeditions Holdings insider Benjamin Bressler, Founder & CEO of NHA, reported an option exercise and share sale. On 02/02/2026 he exercised 87,478 stock options with a $8.44 exercise price, acquiring the same number of common shares.

That same day, he sold 87,478 common shares at a weighted average price of $17.0809, with individual trades between $17.00 and $17.22. After these transactions, he directly holds 23,466 common shares and 222,389 stock options under the 2021 Long Term Incentive Plan.

Insider Trade Summary

Net Seller: 87,478 shares ($1,494,203)

Net Sell 3 txns

Insider BRESSLER BENJAMIN

Role *Founder & CEO of NHA

Sold 87,478 shs ($1.49M)

Type	Security	Shares	Price	Value
Exercise	Stock Option (right to buy)(2)	87,478	$0.00	--
Exercise	Common Stock	87,478	$0.00	--
Sale	Common Stock	87,478	$17.0809	$1.49M

Holdings After Transaction: Stock Option (right to buy)(2) — 222,389 shares (Direct); Common Stock — 110,944 shares (Direct)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $17.00 to $17.22, 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. Stock option granted under the 2021 Long Term Incentive Plan pursuant to his employment agreement.

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).

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^*

BRESSLER BENJAMIN

(Last) (First) (Middle)

833 WEST SOUTH BOULDER ROAD

BLDG G

(Street)

LOUISVILLE LA 80027-2452

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	*Founder & CEO of NHA

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		M		87,478	A	$0	110,944	D
Common Stock	02/02/2026		S		87,478	D	$17.0809(1)	23,466	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
Stock Option (right to buy)(2)(2)	$8.44	02/02/2026		M			87,478	03/14/2024	03/17/2034	Common Stock	87,478	$0	222,389	D

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 $17.00 to $17.22, 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.

2. Stock option granted under the 2021 Long Term Incentive Plan pursuant to his employment agreement.

	/s/ John J. Wolfel, Attorney-in-Fact for Benjamin Bressler	02/02/2026
	** 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 Benjamin Bressler report for LIND on February 2, 2026?

Benjamin Bressler reported exercising 87,478 stock options and selling 87,478 Lindblad Expeditions common shares on February 2, 2026. The exercise came from options granted under the 2021 Long Term Incentive Plan pursuant to his employment agreement.

How many Lindblad Expeditions (LIND) shares did Benjamin Bressler sell and at what price?

Benjamin Bressler sold 87,478 Lindblad Expeditions common shares at a weighted average price of $17.0809. The filing states the individual sale prices ranged from $17.00 to $17.22 per share across multiple transactions executed on February 2, 2026.

How many Lindblad Expeditions (LIND) shares and options does Benjamin Bressler hold after this Form 4?

After the reported transactions, Benjamin Bressler directly owns 23,466 Lindblad Expeditions common shares. He also directly holds 222,389 stock options granted under the 2021 Long Term Incentive Plan, according to the beneficial ownership figures listed in the Form 4.

What stock option grant did Benjamin Bressler exercise in the Lindblad Expeditions (LIND) Form 4?

Benjamin Bressler exercised a stock option to acquire 87,478 Lindblad Expeditions common shares at an exercise price of $8.44 per share. The option was granted under the company’s 2021 Long Term Incentive Plan pursuant to his employment agreement.

What does the weighted average sale price mean in Benjamin Bressler’s LIND Form 4?

The weighted average sale price of $17.0809 means Benjamin Bressler’s 87,478 sold shares were executed in multiple trades. The filing notes individual prices ranged between $17.00 and $17.22, and detailed trade breakdowns are available from the company or Bressler upon request.