BRESSLER BENJAMIN 4
4 · LINDBLAD EXPEDITIONS HOLDINGS, INC. · Filed Feb 5, 2026
Research Summary
AI-generated summary of this filing
LIND Founder Benjamin Bressler Sells 222,389 Shares After Option Exercises
What Happened
Benjamin Bressler (listed as Founder & CEO of NHA) exercised stock options and immediately sold all shares acquired. On 2026-02-04 he exercised 181,389 shares (reported acquisition $0) and sold the same 181,389 shares for aggregate proceeds of $3,273,128 (weighted avg price reported $18.04). On 2026-02-05 he exercised 41,000 shares (reported acquisition $0) and sold those 41,000 shares for $741,202 (weighted avg price reported $18.08). Total reported proceeds ≈ $4.01 million for 222,389 shares.
Key Details
- Transaction dates: 2026-02-04 (181,389 shares) and 2026-02-05 (41,000 shares).
- Reported sale proceeds: $3,273,128 (2/4) + $741,202 (2/5) = $4,014,330 total.
- Prices: weighted averages $18.04 (2/4) and $18.08 (2/5). Footnotes note actual sale prices ranged $18.00–$18.09 (2/4) and $18.00–$18.18 (2/5); the filer offers to provide the per-trade breakdown upon request.
- The Form shows the acquisitions at $0 and marks the derivative transactions as option exercises; footnote F3 says the options were granted under the 2021 Long Term Incentive Plan per his employment agreement.
- Shares owned after the transactions: not specified in the provided Form 4 disclosure.
Context
- This pattern—exercising options and immediately selling the resulting shares—is commonly a cashless exercise plus sale (the filing reports exercise (M) followed by sale (S)). It is a sale of stock rather than a purchase, which is generally less informative about insider sentiment than purchases.
- The filing was made on 2026-02-05 covering transactions on 2026-02-04 and 02-05; no late-filing indication appears in the provided details.
Insider Transaction Report
Form 4
BRESSLER BENJAMIN
*Founder & CEO of NHA
Transactions
- Exercise/Conversion
Common Stock
2026-02-04+181,389→ 204,855 total - Sale
Common Stock
[F1]2026-02-04$18.04/sh−181,389$3,273,128→ 23,466 total - Exercise/Conversion
Common Stock
2026-02-05+41,000→ 64,466 total - Sale
Common Stock
[F2]2026-02-05$18.08/sh−41,000$741,202→ 23,466 total - Exercise/Conversion
Stock Option (right to buy)
[F3]2026-02-04−181,389→ 41,000 totalExercise: $8.44From: 2024-03-14Exp: 2034-03-17→ Common Stock (181,389 underlying) - Exercise/Conversion
Stock Option (right to buy)
[F3]2026-02-05−41,000→ 0 totalExercise: $8.44From: 2024-03-14Exp: 2034-03-17→ Common Stock (41,000 underlying)
Footnotes (3)
- [F1]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $18.00 to $18.09, 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.
- [F2]The price reported in Column 4 is a weighted average price. The shares were sold in multiple transactions at prices ranging from $18.00 to $18.18, 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.
- [F3]Stock option granted under the 2021 Long Term Incentive Plan pursuant to his employment agreement.
Signature
/s/ John J. Wolfel, Attorney-in-Fact for Benjamin Bressler|2026-02-05