Current Report Filing (8-k)

 

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): May 15, 2020

 

LINDBLAD EXPEDITIONS HOLDINGS, INC.

(Exact name of registrant as specified in its charter)

 

Delaware		001-35898		27-4749725
(State or other jurisdiction of incorporation)		(Commission File Number)		(IRS Employer Identification No.)

 

96 Morton Street, 9th Floor, New York, New York		10014
(Address of principal executive offices)		(Zip Code)

 

Registrant’s telephone number including area code: [phone]

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		LIND		The NASDAQ Stock Market LLC

 

(Former name or former address, if changed since last report)

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

 

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230 .425)

 

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

 

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8.01     Other Events

 

Due to the economic impact of the COVID-19 pandemic on our business, Lindblad Expeditions, LLC (the “Company,” “we” or “our”) has chosen to implement certain additional cost saving measures to help support our financial position during this extended time of uncertainty. As a part of these cost saving measures, on May 15, 2020, approximately 130 employees of the Company were furloughed and 55 employees received a reduction in workload of at least 50%. Furloughed employees will continue to be provided with health care benefits through at least September 30, 2020, with the Company paying 100% of the premiums applicable to such employees. Because these furloughs and workload reductions are related to the effects of the COVID-19 pandemic on our business, we anticipate furloughed and reduced workload employees to be eligible for unemployment compensation, subject to applicable federal and state laws. Additionally, all remaining employees received a salary reduction of 15-20%. Chief Executive Officer Sven Lindblad will forego 100% of his salary during the COVID-19 crisis.

 

 

 

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SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

	LINDBLAD EXPEDITIONS HOLDINGS, INC. (registrant)
May 15, 2020	By:	/s/ Craig I. Felenstein
		Craig I. Felenstein Chief Financial Officer