BRESSLER BENJAMIN 4

What Happened
Benjamin Bressler, founder and CEO of Natural Habitat Adventures, received an award of 243,916 restricted stock units (RSUs) in Lindblad Expeditions Holdings (LIND) that vested 100% on March 16, 2026. To satisfy tax withholding related to the vesting, 106,713 shares were surrendered (disposed) with an attributable value of $16.93 per share, totaling $1,806,651. The initial award on March 15–16 was recorded as an acquisition at $0 (RSU grant).

Key Details

• Transaction dates: RSU award recorded 2026-03-15 (vested 3/16/2026); tax-withholding/surrender recorded 2026-03-16.
• Award: 243,916 shares (RSUs) granted/vested 100% (footnote F1).
• Tax withholding/disposition: 106,713 shares at $16.93 each, total value $1,806,651 (code F — payment of exercise price or tax liability).
• Additional footnote (F2): references a stock option under the 2021 Long Term Incentive Plan per his employment agreement (not the action taken here).
• Shares owned after the transactions: not disclosed in the provided filing.
• Filing date: Form 4 filed 2026-04-08 for transactions on 3/15–3/16 — this is more than the typical 2 business days allowed for Form 4 reporting (i.e., filed late).

Context

• This sequence is a common post-vesting tax withholding: RSUs vested (an acquisition) and a portion of shares were surrendered to cover taxes (not necessarily an open-market sale by the insider).
• Such withholding/surrenders are routine and do not by themselves signal the insider’s market view.
• Retail investors should note the filer’s disclosure timing (late filing) — while not uncommon, late filings reduce immediacy of the information and may attract regulatory attention.