Lindblad Expeditions to convert all 62,000 preferred shares into ~9M common shares on Feb 3, 2026

LINDBLAD EXPEDITIONS HOLDINGS, INC.

Mandatory conversion triggered by VWAP > $14.25 for 20 of 30 trading days, met Jan 16.
All 62,000 shares of 6.0% Series A Convertible Preferred to convert into ~9.0M common shares.
Post-conversion common shares outstanding: ~64.4M; no preferred stock remains.
CFO Rick Goldberg says conversion simplifies capital structure and strengthens balance sheet.
Conversion effective Feb 3, 2026; preferred dividends will cease.

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