BRESSLER BENJAMIN 4

What Happened
Benjamin Bressler (listed as Founder & CEO of NHA) exercised stock options to acquire 87,478 Lindblad Expeditions (LIND) shares at $0.00 and immediately sold those 87,478 shares in the open market. The shares were sold at a weighted average price of $17.08, producing gross proceeds of $1,494,203. The option is noted as granted under the company’s 2021 Long Term Incentive Plan per the filing.

Key Details

• Transaction date: 2026-02-02. Transaction codes: M = exercise/conversion of derivative; S = open-market sale.
• Exercise/acquisition: 87,478 shares at $0.00 (per Form 4).
• Sale: 87,478 shares at weighted average $17.08, total proceeds $1,494,203. Reported sale prices ranged $17.00–$17.22 (footnote F1).
• Footnotes: F1 explains the weighted-average sale price and offers a breakdown on request; F2 says the option was granted under the 2021 Long Term Incentive Plan.
• Shares owned after the transaction: not disclosed in the provided excerpt of the filing.
• Filing timeliness: Form 4 filed with the same report date (2026-02-02), indicating a timely report.

Context
This was an exercise of options followed by an immediate sale (cashless-like transaction), meaning the insider converted derivative rights into shares and sold them the same day to realize proceeds. Such immediate sales are common when insiders exercise equity awards to monetize gains; they are routine and do not by themselves indicate a change in company outlook.