---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-22-013904"
form_type: "8-K"
ticker: "LIND"
cik: "0001512499"
company_name: "LINDBLAD EXPEDITIONS HOLDINGS, INC."
filed_at: "2022-05-31T23:59:59+00:00"
generated_at: "2026-06-25T05:51:57.693384+00:00"
event_type: "other_material"
sentiment: "neutral"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- accession: 0001437749-22-013904
- form_type: 8-K
- ticker: LIND
- cik: 0001512499
- company_name: LINDBLAD EXPEDITIONS HOLDINGS, INC.
- filed_at: 2022-05-31T23:59:59+00:00
- event_type: other_material
- sentiment: neutral
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 1.01, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1512499/000143774922013904/0001437749-22-013904-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1512499/000143774922013904/lindb20220527_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-22-013904
- JSON: https://secwatch.observer/filing/0001437749-22-013904.json
- Plain text: https://secwatch.observer/filing/0001437749-22-013904.txt

## Key facts
- Executive change
  Noah Brodsky was appointed as Chief Commercial Officer at LINDBLAD EXPEDITIONS HOLDINGS, INC..
  - Action: appointed
  - Role: Chief Commercial Officer
  source text: 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”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1512499/000143774922013904/0001437749-22-013904-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.