Lindblad amends ECA loan covenants, suspends leverage ratio through Dec 2022; appoints Noah Brodsky as CCO

LINDBLAD EXPEDITIONS HOLDINGS, INC.

Amended ECA facilities with Eksfin and Citibank: suspension of Total Net Leverage Ratio covenant extended through December 2022.
For 2022, replaced requirement for two Fair Market Value vessel valuations with one replacement value valuation per vessel.
Appointed Noah Brodsky as Chief Commercial Officer effective May 31, 2022; he was previously President of Travel + Leisure Group.
Brodsky's employment agreement: $400,000 base salary, 75% bonus target, 100% equity target, $1.75M sign-on grant (75% options, 25% RSUs) vesting over 4 years.
Severance includes 12 months base salary continuation and COBRA if terminated without cause or for good reason; 2-year non-compete.

item 1.01 item 5.02 item 7.01 item 9.01

Executive movements

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Appointed

Noah Brodsky

Chief Commercial Officer

LIND · LINDBLAD EXPEDITIONS HOLDINGS, INC.

Effective: 2022-05-31
Filed: May 31, 2022, 7:59 PM ET

On May 31, 2022, Lindblad Expeditions Holdings, Inc. (the “Company”) announced the appointment of Noah Brodsky as the Company’s new Chief Commercial Officer, effective May 31, 2022 (the “Effective Date”).

Key facts

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Executive change SEC 8-K Item 5.02 confidence 1.0

Noah Brodsky was appointed as Chief Commercial Officer at LINDBLAD EXPEDITIONS HOLDINGS, INC..

Action: appointed
Role: Chief Commercial Officer

Exact text from the filing

On May 31, 2022, Lindblad Expeditions Holdings, Inc. (the “Company”) announced the appointment of Noah Brodsky as the Company’s new Chief Commercial Officer, effective May 31, 2022 (the “Effective Date”).

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LINDBLAD EXPEDITIONS HOLDINGS, INC. filing history →

Source: SEC EDGAR

accession 0001437749-22-013904

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