Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
Each company listed discloses LIND in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named LIND in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Natalya Leahy | $600,000 | $1,125,000 | $3,974,160 | $0 | $571,500 | $0 | $20,805 | $6,291,465 |
| Chief Executive Officer | ||||||||
| Benjamin Bressler | 200,000 | 1,757,413 | 49,993 | 0 | 0 | 0 | 36,566 | 2,043,972 |
| Founder and Chief Executive Officer, Natural Habitat, Inc. | ||||||||
| Frederick Goldberg | 475,000 | 0 | 474,995 | 0 | 452,438 | 0 | 30,116 | 1,432,549 |
| Chief Financial Officer | ||||||||
| Dean Byus III | 276,726 | 0 | 360,492 | 0 | 272,295 | 0 | 32,603 | 942,116 |
| Chief Expedition Officer | ||||||||
| Noah Brodsky | 388,933 | 0 | 463,500 | 0 | 0 | 0 | 21,920 | 874,353 |
| Former Chief Commercial Officer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Natalya Leahy | $6,291,465 | — | — | — |
| Benjamin Bressler | 2,043,972 | — | 1,934,142 | — |
| Frederick Goldberg | 1,432,549 | 669,827 | — | +762,722 |
| Dean Byus III | 942,116 | 1,108,112 | 2,176,342 | −165,996 |
| Noah Brodsky | 874,353 | 2,064,056 | 1,224,633 | −1,189,703 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Natalya Leahy | RSU | 2025-03-31 | — | — | 64,724 | — | $599,991 |
| Frederick Goldberg | RSU | 2025-03-31 | — | — | 51,240 | — | 474,995 |
| Benjamin Bressler | RSU | 2025-03-31 | — | — | 5,393 | — | 49,993 |
| Noah Brodsky | RSU | 2025-03-31 | — | — | 50,000 | — | 463,500 |
| Dean Byus III | RSU | 2025-03-31 | — | — | 38,888 | — | 360,492 |
| Natalya Leahy | RSU | 2025-01-01 | — | — | 300,811 | — | 3,374,168 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Natalya Leahy | $3,974,159 | $0 | $0 | 0.0% |
| Frederick Goldberg | 474,995 | 0 | 0 | 0.0% |
| Benjamin Bressler | 49,993 | 0 | 0 | 0.0% |
| Noah Brodsky | 463,500 | 0 | 0 | 0.0% |
| Dean Byus III | 360,492 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Dean Byus III | Option | 37,500 | 7.4 | — |
| Dean Byus III | PSU | 19,444 | — | 280,382 |
| Dean Byus III | Option | 100,000 | 9.56 | — |
| Frederick Goldberg | RSU | 70,496 | — | 1,016,552 |
| Dean Byus III | RSU | 38,426 | — | 554,103 |
| Benjamin Bressler | PSU | 309,286 | — | 4,459,909 |
| Dean Byus III | PSU | 19,320 | — | 278,594 |
| Benjamin Bressler | RSU | 17,265 | — | 248,966 |
| Dean Byus III | PSU | 12,606 | — | 181,779 |
| Benjamin Bressler | RSU | 235,949 | — | 3,402,385 |
| Frederick Goldberg | PSU | 30,744 | — | 443,328 |
We believe that a skilled, experienced and dedicated management team is essential to our future performance and to building stockholder value. We seek to establish competitive compensation programs that enable us to attract and retain executive officers with these qualities. The other objectives of our compensation programs for our executive officers are the following: to motivate our executive officers to achieve and create stockholder value; to attract and retain executive officers who we believe have the experience, temperament, talents, and convictions to contribute significantly to our future success; and to align the economic interests of our executive officers with the interests of our stockholders.
| CEO STI target (% of salary) | 75% |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Frederic W. Cook & Co. |
| Clawback policy | True |
| Anti-hedging | true |
| Anti-pledging | false |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-06-10 | 49,151,958 | 1,001,352 | 119,891 | 97.77% | Passed |
| 2025 | 2025-06-04 | 39,627,579 | 7,309,085 | 1,274,051 | 82.2% | Passed |
| 2024 | 2024-06-04 | 31,301,366 | 9,595,190 | 1,869,573 | 76.54% | Passed |
| 2023 | 2023-06-01 | 37,675,204 | 6,787,689 | 1,394,947 | 82.16% | Passed |
| 2022 | 2022-06-03 | 26,094,846 | 18,918,049 | 766,722 | 57% | Passed |
| 2021 | 2021-06-04 | 39,780,349 | 7,446,569 | 729,720 | 82.95% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-06-10 | 97.77%a |
| 2025 | 2025-06-04 | 82.2%b |
| 2024 | 2024-06-04 | 76.54%c |
a. Approved under the standard stated in the filing — “For the other proposals, you may vote "FOR," "AGAINST" or "ABSTAIN." Abstentions are considered to be present and entitled to vote at the meeting and, therefore, will have the effect of a vote against each of the proposals other than the director elector proposal.”.
b. Approved under the standard stated in the filing — “For the other proposals, you may vote "FOR," "AGAINST" or "ABSTAIN." Abstentions are considered to be present and entitled to vote at the meeting and, therefore, will have the effect of a vote against each of the proposals other than the director elector proposal.”.
c. Voting standard not stated in the filing.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 52.3 : 1 |
|---|---|
| CEO total compensation | $6,291,465 |
| Median employee compensation | $120,385 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Mark D. EinIndependent · Lead Independent Director · Nominating Committee (Chair) | $167,500 | $109,992 | $0 | — | $0 | $277,492 |
| Sven-Olof LindbladNot independent | 150,000 | 109,992 | 0 | — | 0 | 259,992 |
| Thomas S. SmithIndependent · Audit (Chair) · Risk, Safety and Operational Compliance Committee · Nominating Committee | 95,000 | 109,992 | 0 | — | 0 | 204,992 |
| John M. FaheyIndependent · Compensation (Chair) · Nominating Committee | 90,000 | 109,992 | 0 | — | 0 | 199,992 |
| Andy StuartIndependent · Audit · Risk, Safety and Operational Compliance Committee (Chair) | 82,500 | 109,992 | 0 | — | 0 | 192,492 |
| Alexander P. SchultzIndependent · Nominating Committee | 70,000 | 109,992 | 0 | — | 0 | 179,992 |
| Elliott BisnowIndependent · Audit · Compensation | 70,000 | 109,992 | 0 | — | 0 | 179,992 |
| Pamela O. KaufmanIndependent · Compensation | 70,000 | 109,992 | 0 | — | 0 | 179,992 |
| Annette ReavisIndependent · Audit · Compensation | 70,000 | 109,992 | 0 | — | 0 | 179,992 |
| L. Dyson DrydenIndependent · Compensation | 70,000 | 109,992 | 0 | — | 0 | 179,992 |
| Catherine B. ReynoldsIndependent · Risk, Safety and Operational Compliance Committee · Nominating Committee | 70,000 | 109,992 | 0 | — | 0 | 179,992 |
| Annual cash retainer | $70,000 |
|---|---|
| Annual equity retainer | $110,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 25,000 / 20,000 / 17,500 |
| Stock ownership guideline | 5x cash retainer within 5 years |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,005,000 |
| Equity awards (grant-date value) | $1,209,912 |
| All other compensation | $0 |
| Total cost of the board | $2,214,912 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Lindblad Expeditions Holdings | 2025 | Natalya Leahy | $600,000 | $3,974,160 | $0 | $571,500 | $6,291,465 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Natalya Leahy | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Summary Compensation Table”. As printed: 6,291,465. Filing ↗machine: span 411959–411968 |
| 2 | Section 01, Benjamin Bressler | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Summary Compensation Table”. As printed: 2,043,972. Filing ↗machine: t9 · r7 · c47 · span 440525–440534 |
| 3 | Section 01, Frederick Goldberg | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Summary Compensation Table”. As printed: 1,432,549. Filing ↗machine: span 417240–417249 |
| 4 | Section 01, Dean Byus III | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Summary Compensation Table”. As printed: 942,116. Filing ↗machine: t9 · r4 · c47 · span 426706–426713 |
| 5 | Section 01, Noah Brodsky | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Summary Compensation Table”. As printed: 874,353. Filing ↗machine: span 454279–454286 |
| 6 | Section 03, Natalya Leahy RSU | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t11 · r4 · c33 · span 507681–507688 |
| 7 | Section 03, Frederick Goldberg RSU | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t11 · r6 · c33 · span 514822–514829 |
| 8 | Section 03, Benjamin Bressler RSU | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t11 · r10 · c33 · span 529149–529155 |
| 9 | Section 03, Noah Brodsky RSU | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t11 · r12 · c33 · span 536338–536345 |
| 10 | Section 03, Dean Byus III RSU | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t11 · r8 · c33 · span 522009–522016 |
| 11 | Section 03, Natalya Leahy RSU | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Grants of Plan-Based Awards” · grants of plan-based awards table. Filing ↗machine: t11 · r3 · c33 · span 504315–504324 |
| 12 | Section 07, pay ratio | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “CEO Pay Ratio”. As printed: 52.3 : 1. Filing ↗ |
| 13 | Section 08, Mark D. Ein | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Director Compensation”. As printed: 277,492. Filing ↗machine: t3 · r3 · c29 · span 270676–270683 |
| 14 | Section 08, Sven-Olof Lindblad | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Director Compensation”. As printed: 259,992. Filing ↗machine: t3 · r6 · c29 · span 279938–279945 |
| 15 | Section 08, Thomas S. Smith | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Director Compensation”. As printed: 204,992. Filing ↗machine: t3 · r10 · c29 · span 292302–292309 |
| 16 | Section 08, John M. Fahey | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Director Compensation”. As printed: 199,992. Filing ↗machine: t3 · r4 · c29 · span 273753–273760 |
| 17 | Section 08, Andy Stuart | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Director Compensation”. As printed: 192,492. Filing ↗machine: t3 · r11 · c29 · span 295405–295412 |
| 18 | Section 08, Alexander P. Schultz | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Director Compensation”. As printed: 179,992. Filing ↗machine: t3 · r9 · c29 · span 289225–289232 |
| 19 | Section 08, Elliott Bisnow | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Director Compensation”. As printed: 179,992. Filing ↗machine: t3 · r1 · c29 · span 264497–264504 |
| 20 | Section 08, Pamela O. Kaufman | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Director Compensation”. As printed: 179,992. Filing ↗machine: t3 · r5 · c29 · span 276857–276864 |
| 21 | Section 08, Annette Reavis | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Director Compensation”. As printed: 179,992. Filing ↗machine: t3 · r7 · c29 · span 283041–283048 |
| 22 | Section 08, L. Dyson Dryden | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Director Compensation”. As printed: 179,992. Filing ↗machine: t3 · r2 · c29 · span 267575–267582 |
| 23 | Section 08, Catherine B. Reynolds | DEF 14A | 2026-04-28 | 0001104659-26-049586 | Section “Director Compensation”. As printed: 179,992. Filing ↗machine: t3 · r8 · c29 · span 286121–286128 |
| 24 | Section 06, 2026 vote | Form 8-K | 2026-06-11 | 0001437749-26-020326 | Item 5.07 · say-on-pay result. As reported: 97.77% (votes for as printed: 49,151,958). Filing ↗ |
| 25 | Section 06, 2025 vote | Form 8-K | 2025-06-05 | 0001437749-25-019558 | Item 5.07 · say-on-pay result. As reported: 82.2% (votes for as printed: 39,627,579). Filing ↗ |
| 26 | Section 06, 2024 vote | Form 8-K | 2024-06-05 | 0001437749-24-019267 | Item 5.07 · say-on-pay result. As reported: 76.54% (votes for as printed: 31,301,366). Filing ↗ |
| 27 | Section 01 trend, Δ column (computed) | Computed | — | computed | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 28 | Section 03b vehicle mix (computed) | Computed | — | computed | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 29 | Section 09b board cost (computed) | Computed | — | computed | Cash 1,005,000 + equity 1,209,912 + all other 0 = 2,214,912, summed across the director compensation table rows.machine: formula: Σ = 2,214,912 |
| 30 | Lindblad Expeditions Holdings (subject), Section 10b CEO total | DEF 14A | 2026-04-28 | 0001104659-26-049586 | CEO total compensation as printed in Lindblad Expeditions Holdings's own proxy. As printed: 6,291,465. Filing ↗machine: span 411959–411968 |