Lindblad Expeditions (LIND) director reports planned stock sales under 10b5-1

Rhea-AI Filing Summary

Lindblad Expeditions Holdings, Inc. director and 10% owner Sven-Olof Lindblad reported selling common stock in two transactions under a pre-arranged Rule 10b5-1 trading plan. On January 27, 2026, he sold 44,002 shares at a weighted average price of $15.9808, leaving 11,443,057 shares beneficially owned directly. On January 28, 2026, he sold a further 86,639 shares at a weighted average price of $16.2942, resulting in 11,356,418 shares owned directly after the second trade. The filing notes that actual sale prices for each day ranged within specified price bands and that detailed price breakdowns are available upon request.

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

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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).

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^*

Lindblad Sven-Olof

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

3. Date of Earliest Transaction (Month/Day/Year)
01/27/2026

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	01/27/2026		S		44,002	D	$15.9808(1)	11,443,057	D
Common Stock	01/28/2026		S		86,639	D	$16.2942(2)	11,356,418	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. Sales were made pursuant to a Rule 10b5-1 trading plan. The price reported in Column 4 is a weighted average price. The prices actually received ranged from $15.77 to $16.16. 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.

2. Sales were made pursuant to a Rule 10b5-1 trading plan. The price reported in Column 4 is a weighted average price. The prices actually received ranged from $16.07 to $16.54. 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 Sven-Olof Lindblad	01/29/2026
	** 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 share sales did Sven-Olof Lindblad report for LIND?

Sven-Olof Lindblad reported two sales of Lindblad Expeditions common stock. He sold 44,002 shares on January 27, 2026 and 86,639 shares on January 28, 2026, both at weighted average prices around the mid-$16 range under a Rule 10b5-1 trading plan.

Were the recent LIND insider sales made under a Rule 10b5-1 plan?

Yes. Both reported transactions were executed under a Rule 10b5-1 trading plan. This means the sales followed a pre-established schedule, designed to separate the timing of trades from any subsequent possession of material nonpublic information by the reporting person.

How many Lindblad Expeditions (LIND) shares does Sven-Olof Lindblad own after these trades?

Following the January 28, 2026 transaction, Sven-Olof Lindblad beneficially owned 11,356,418 shares of Lindblad Expeditions common stock directly. This figure reflects his holdings after the two consecutive sales disclosed in the Form 4 filing for those January 2026 trading dates.

At what prices were Sven-Olof Lindblad’s LIND shares sold in January 2026?

On January 27, 2026, shares were sold at a weighted average price of $15.9808, with actual prices ranging from $15.77 to $16.16. On January 28, 2026, the weighted average price was $16.2942, with individual trade prices between $16.07 and $16.54.

What is Sven-Olof Lindblad’s relationship to Lindblad Expeditions (LIND)?

Sven-Olof Lindblad is identified as both a director and a 10% owner of Lindblad Expeditions Holdings, Inc. This status requires him to report transactions in company securities, such as the January 2026 stock sales, on Form 4 under U.S. securities regulations.

Can investors obtain detailed price data for Sven-Olof Lindblad’s LIND trades?

Yes. The filing states that detailed information on the number of shares sold at each individual price within the reported ranges will be provided by the reporting person to the issuer, any security holder, or SEC staff upon request.