secwatch.observer — SEC 8-K summary
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Issuer:     LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND)
CIK:        0001512499
Form:       8-K
Filed at:   2022-05-31T23:59:59+00:00
Accession:  0001437749-22-013904
Event type: other_material
Sentiment:  neutral
Materiality: 0.60
Item codes: 1.01, 5.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1512499/000143774922013904/0001437749-22-013904-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1512499/000143774922013904/lindb20220527_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-013904

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