secwatch.observer — SEC 8-K summary
======================================

Issuer:     LINDBLAD EXPEDITIONS HOLDINGS, INC. (LIND)
CIK:        0001512499
Form:       8-K
Filed at:   2022-12-27T23:59:59+00:00
Accession:  0001437749-22-029789
Event type: other_material
Sentiment:  neutral
Materiality: 0.40
Item codes: 1.01, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Lindblad restructures NatHab ownership; amends employment agreement with Bressler through Dec 2025
--------------------------------------------------------------------------------

- Transferred NatHab's ownership in Off the Beaten Path and DuVine Cycling + Adventure to Lindblad Expeditions LLC.
- Bressler's employment extended to Dec 2025; eligible for one-time option award if employed through Dec 2023.
- Bressler gets put right for 50% of NatHab interest by Jan 2024 and remaining by 2026; parent call right until March 2031.
- Put-Call purchase price based on 7x EBITDA with $10M floor if parent calls.
- Bressler receives $200K base salary plus net profit bonus (10% of NatHab net profit, excluding Managed Businesses).

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1512499/000143774922029789/0001437749-22-029789-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1512499/000143774922029789/lindb20221222_8k.htm
  HTML page:      https://secwatch.observer/filing/0001437749-22-029789

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer