BRESSLER BENJAMIN 4

What Happened Benjamin Bressler (listed as Founder & CEO of NHA) reported option/derivative activity and an open-market sale in Lindblad Expeditions Holdings, Inc. (LIND) on January 29, 2026. The filing shows he acquired 33,338 shares via exercise/conversion at $0.00 (reported acquisition value $0), sold 33,338 shares in the open market at a weighted-average price of $17.02 for proceeds of $567,473, and reported a separate derivative conversion/disposition of 33,338 shares at $8.44 for proceeds of $281,373.

Key Details

• Transaction date: 2026-01-29 (Form 4 filed 2026-01-30; appears timely).
• Open-market sale: 33,338 shares, weighted-average price $17.02, proceeds $567,473. (Footnote: prices in the sale ranged $17.00–$17.06; reporting person can provide per-price breakdown.)
• Exercise/Acquisition: 33,338 shares reported acquired via exercise/conversion at $0.00 (no cash cost reported).
• Derivative conversion/disposition: 33,338 shares reported disposed at $8.44, proceeds $281,373. (Footnote: F2—stock option granted under the 2021 Long Term Incentive Plan per employment agreement.)
• Shares owned after the transactions: Not disclosed in the provided summary of this filing.
• Filing timeliness: Reported on 2026-01-30 for a 2026-01-29 transaction (filed within expected Form 4 window).

Context

• The filing shows an exercise/conversion and same-day sale sequence. For retail investors, exercises followed by immediate sales are typically a way for insiders to realize value from option/award vesting; the form does not state the insider’s reason.
• These entries involve derivatives/options (reporting code M); the filing’s footnotes identify the award source (2021 LTIP). As always, factual insider sales are not in themselves a clear signal of company outlook—buying is generally more informative than routine exercises and sales.