Companies Lindblad Expeditions Holdings, Inc
Lindblad Expeditions (LIND): executive pay, fiscal 2025
Free brief. Every figure links to the company’s own filing.
Velarion Intel: free for 3 days, no card →Email me Lindblad Expeditions Holdings, Inc’s executive pay brief as a PDF
You get it on this page the moment you ask, and a copy by email. Every figure is cited to its filing.
After the PDF, up to three short notes on the deeper reports for this company. Reply “unsubscribe” to any of them, any time.
CEO pay, last three years
- $6,291,465FY2025
CEO total pay was $6,291,465 in fiscal 2025; the brief holds no earlier figure for this CEO.
FY2025: salary $600,000 · bonus $1,125,000 · stock awards $3,974,160 · option awards $0
Executives and directors
Frequently asked questions
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Full detail
Every table from the filing. Open any section.
Summary compensation table
| 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.
Three-year trend — total compensation per named executive
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Natalya Leahy | $6,291,465 | — | — | — |
| Benjamin Bressler | 2,043,972 | 9,163,866 | 1,934,142 | ↓ −7,119,894 |
| 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.
Incentive-plan design — the Compensation Discussion & Analysis
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 |
Equity grants and outstanding awards
Grants of plan-based awards — fiscal year 2025
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Natalya Leahy | RSU | 2025-03-31 | — | — | 64,724 | — | $599,991 |
| Noah Brodsky | RSU | 2025-03-31 | — | — | 50,000 | — | 463,500 |
| Frederick Goldberg | RSU | 2025-03-31 | — | — | 51,240 | — | 474,995 |
| Natalya Leahy | RSU | 2025-01-01 | — | — | 300,811 | — | 3,374,168 |
| Dean Byus III | RSU | 2025-03-31 | — | — | 38,888 | — | 360,492 |
| Benjamin Bressler | RSU | 2025-03-31 | — | — | 5,393 | — | 49,993 |
Vehicle mix — grant-date fair value by award type
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Natalya Leahy | $3,974,159 | $0 | $0 | 0.0% |
| Noah Brodsky | 463,500 | 0 | 0 | 0.0% |
| Frederick Goldberg | 474,995 | 0 | 0 | 0.0% |
| Dean Byus III | 360,492 | 0 | 0 | 0.0% |
| Benjamin Bressler | 49,993 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
Outstanding equity awards at fiscal year-end 2025
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Dean Byus III | PSU | 12,606 | — | $181,779 |
| Natalya Leahy | PSU | 15,000 | — | 216,300 |
| Benjamin Bressler | RSU | 17,265 | — | 248,966 |
| Dean Byus III | PSU | 19,320 | — | 278,594 |
| Dean Byus III | PSU | 19,444 | — | 280,382 |
| Frederick Goldberg | PSU | 30,744 | — | 443,328 |
| Dean Byus III | Option | 37,500 | 7.4 | — |
| Dean Byus III | RSU | 38,426 | — | 554,103 |
| Natalya Leahy | PSU | 38,835 | — | 560,001 |
| Natalya Leahy | PSU | 50,000 | — | 721,000 |
| Frederick Goldberg | RSU | 70,496 | — | 1,016,552 |
| Dean Byus III | Option | 100,000 | 9.56 | — |
| Natalya Leahy | RSU | 183,099 | — | 2,640,288 |
| Benjamin Bressler | RSU | 235,949 | — | 3,402,385 |
| Benjamin Bressler | PSU | 309,286 | — | 4,459,909 |
Director compensation
| 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 |
| Annette ReavisIndependent · Audit · Compensation | 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 |
| Catherine B. ReynoldsIndependent · Risk, Safety and Operational Compliance Committee · Nominating Committee | 70,000 | 109,992 | 0 | — | 0 | 179,992 |
| L. Dyson DrydenIndependent · Compensation | 70,000 | 109,992 | 0 | — | 0 | 179,992 |
| Alexander P. SchultzIndependent · Nominating Committee | 70,000 | 109,992 | 0 | — | 0 | 179,992 |
Board fee structure and ownership guideline
| 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 |
Total cost of the board
| 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.
Peer group, and who names Lindblad Expeditions as a peer
Companies that benchmark against LIND
2 companies name LIND as a compensation peer
The list of companies that name LIND as a peer is temporarily unavailable — recheck shortly.
Chief executive pay against the peer group
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, Inc | 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.
Say-on-pay history and pay ratio
| 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.
Say-on-pay — history, company’s computation
| 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.
CEO pay ratio
| Ratio (CEO : median employee) | 52.3 : 1 |
|---|---|
| CEO total compensation | $6,291,465 |
| Median employee compensation | $120,385 |
Insider trades since the proxy
No insider equity transactions reported since the proxy statement.
Sources (30 citations)
Each figure is listed with the filing it comes from, where it appears in that filing, and the value as printed. Any figure can be independently confirmed against the source.
- Section 01, Natalya Leahy. DEF 14A, filed 2026-04-28. Section “Summary Compensation Table” · page 29. As printed: 6,291,465. View filing ↗
- Section 01, Benjamin Bressler. DEF 14A, filed 2026-04-28. Section “Summary Compensation Table”. As printed: 2,043,972. View filing ↗
- Section 01, Frederick Goldberg. DEF 14A, filed 2026-04-28. Section “Summary Compensation Table”. As printed: 1,432,549. View filing ↗
- Section 01, Dean Byus III. DEF 14A, filed 2026-04-28. Section “Summary Compensation Table”. As printed: 942,116. View filing ↗
- Section 01, Noah Brodsky. DEF 14A, filed 2026-04-28. Section “Summary Compensation Table”. As printed: 874,353. View filing ↗
- Section 03, Natalya Leahy RSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Noah Brodsky RSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Frederick Goldberg RSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Natalya Leahy RSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Dean Byus III RSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 03, Benjamin Bressler RSU. DEF 14A, filed 2026-04-28. Section “Grants of Plan-Based Awards” · grants of plan-based awards table. View filing ↗
- Section 07, pay ratio. DEF 14A, filed 2026-04-28. Section “CEO Pay Ratio”. As printed: 52.3 : 1. View filing ↗
- Section 08, Mark D. Ein. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 277,492. View filing ↗
- Section 08, Sven-Olof Lindblad. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 259,992. View filing ↗
- Section 08, Thomas S. Smith. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 204,992. View filing ↗
- Section 08, John M. Fahey. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 199,992. View filing ↗
- Section 08, Andy Stuart. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 192,492. View filing ↗
- Section 08, Annette Reavis. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 179,992. View filing ↗
- Section 08, Elliott Bisnow. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 179,992. View filing ↗
- Section 08, Pamela O. Kaufman. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 179,992. View filing ↗
- Section 08, Catherine B. Reynolds. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 179,992. View filing ↗
- Section 08, L. Dyson Dryden. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 179,992. View filing ↗
- Section 08, Alexander P. Schultz. DEF 14A, filed 2026-04-28. Section “Director Compensation”. As printed: 179,992. View filing ↗
- Section 06, 2026 vote. Form 8-K, filed 2026-06-11. Item 5.07 · say-on-pay result. As reported: 97.77% (votes for as printed: 49,151,958). View filing ↗
- Section 06, 2025 vote. Form 8-K, filed 2025-06-05. Item 5.07 · say-on-pay result. As reported: 82.2% (votes for as printed: 39,627,579). View filing ↗
- Section 06, 2024 vote. Form 8-K, filed 2024-06-05. Item 5.07 · say-on-pay result. As reported: 76.54% (votes for as printed: 31,301,366). View filing ↗
- Section 01 trend, Δ column (computed). Computed. Δ = current-FY total − prior-FY total per named officer.
- Section 03b vehicle mix (computed). Computed. RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).
- Section 09b board cost (computed). Computed. Cash 1,005,000 + equity 1,209,912 + all other 0 = 2,214,912, summed across the director compensation table rows.
- Lindblad Expeditions Holdings, Inc (subject), Section 10b CEO total. DEF 14A, filed 2026-04-28. CEO total compensation as printed in Lindblad Expeditions Holdings, Inc's own proxy. As printed: 6,291,465. View filing ↗