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Pay vs Performance Disclosure - USD ($)
12 Months Ended
Dec. 31, 2023
Dec. 31, 2022
Dec. 31, 2021
Dec. 31, 2020
Pay vs Performance Disclosure        
Pay vs Performance Disclosure, Table
PAY VERSUS PERFORMANCE
The following table sets forth information about executive compensation, compensation paid and the Company’s performance.
Year
Summary
Compensation
Table Total
for PEO
Berle
(1)
Summary
Compensation
Table Total
for PEO
Lindblad
(1)
Compensation
Actually Paid
to PEO
Berle
(1)(2)(3)
Compensation
Actually
Paid to PEO
Lindblad
(1)(2)(3)
Average
Summary
Compensation
Table Total
for Non-PEO
NEOs
(1)
Average
Compensation
Actually Paid
to Non-PEO
NEOs
(1)(2)(3)
Value of $100 Investment Based On:(4)
Net Loss
Available to
Common
Stockholders
(millions)
Adjusted
EDITDA
(millions)
(6)
Total
Shareholder
Return
Current
Peer Group
Total
Shareholder
Return
(5)
Prior Peer
Group
Total
Shareholder
Return
(5)
(a)
(b)
(c)
(d)
(e)
(f)
(g)
(h)
(i)
(j)
(k)
2023
$ 1,463,127 $ 2,352,502 $ (1,805,574) $ 2,763,516 $ 1,959,443 $ 2,147,119 $ 68.93 $ 114.20 $ 102.58 $ (50.0) $ 71.2
2022
$ 1,635,303 N/A $ (3,740,733) N/A $ 1,827,250 $ 722,410 $ 47.09 $ 71.38 $ 98.80 $ (116.1) $ (11.5)
2021
$ 6,936,263 $ 811,127 $ 10,277,472 $ (896,178) $ 967,846 $ 719,423 $ 95.41 $ 94.10 $ 97.91 $ (124.7) $ (64.0)
2020
N/A $ 2,376,852 N/A $ 3,021,481 $ 1,691,674 $ 2,108,405 $ 104.71 $ 77.36 $ 85.66 $ (100.4) $ (52.2)
(1)
Mr. Berle was the Principle Executive Officer (“PEO”) during 2023, 2022 and 2021, Mr. Lindblad was the PEO during 2023, 2021 and 2020. The Non-PEO NEOs for each year were Mr. Felenstein, Mr. Byus and Mr. Bressler, and Mr. Brodsky for 2023 and 2022, and Mr. Goodman for 2022, 2021 and 2020.
(2)
The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table total with certain adjustments as described in footnote 3 below.
(3)
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table. Amounts in the Exclusion of Change in Pension Value column reflect the amounts attributable to the Change in Pension Value reported in the Summary Compensation Table. Amounts in the Inclusion of Pension Service Cost are based on the service cost for services rendered during the listed year. The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
PEO Berle
2020
2021
2022
2023
SCT Total
$ $ 6,936,263 $ 1,635,303 $ 1,463,127
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year
(6,242,973) (575,000) (1,149,992)
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year
9,584,182 278,231
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years
(4,429,394)
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
+ Change in Fair Value as of Vesting Date of Option Awards and
Stock Awards Granted in Prior Fiscal Years For Which Applicable
Vesting Conditions Were Satisfied During Fiscal Year
(649,872) 539,052
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
(2,657,761)
Compensation Actually Paid
$  — $ 10,277,472 $ (3,740,733) $ (1,805,574)
PEO Lindblad
2020
2021
2022
2023
SCT Total
$ 2,376,852 $ 811,127 $ $ 2,352,502
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year
(1,912,242) (772,519) (1,996,000)
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year
3,458,773 748,831 2,254,000
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years
(277,732) (466,575) 76,040
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
+ Change in Fair Value as of Vesting Date of Option Awards and
Stock Awards Granted in Prior Fiscal Years For Which Applicable
Vesting Conditions Were Satisfied During Fiscal Year
(624,171) 124,019 107,579
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock
Awards Granted in Prior Fiscal Years That Failed to Meet
Applicable Vesting Conditions During Fiscal Year
(1,341,061) (30,605)
Compensation Actually Paid
$ 3,021,481 $ (896,178) $ $ 2,763,516
NEO
2020
2021
2022
2023
SCT Total
$ 1,691,674 $ 967,846 $ 1,827,250 $ 1,959,443
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year
(1,088,231) (345,728) (1,010,633) (942,749)
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year
1,951,502 303,478 341,776 1,078,747
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years
(49,992) (239,077) (363,226) 189,140
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
+ Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
(244,063) 32,904 (72,757) 43,649
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
(152,485) (181,111)
Compensation Actually Paid
$ 2,108,405 $ 719,423 $ 722,410 $ 2,147,119
(4)
Total Shareholder Return (TSR) is cumulative for the measurement periods beginning on December 31, 2019 and ending on the last day in FY 2023, 2022, 2021 and 2020, respectively, calculated in accordance with Item 201(e) of Regulation S-K.
(5)
“Prior Peer Group” represents the FTSE 100 Index, and “Current Peer Group” represents the S&P 1500 Hotels, Resorts and Cruise Lines Index, which the Company has identified as its peer group for purposes of Item 402(v) and which is used by the Company for purposes of compliance with Item 201(e) of Regulation S-K.
(6)
We have determined that Adjusted EBITDA is the financial performance measure that, in our assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used to link compensation actually paid to our named executive officers, for the most recently completed fiscal year, to company performance. A reconciliation of Adjusted EBITDA can be found in our Annual Report.
     
Company Selected Measure Name Adjusted EDITDA      
Named Executive Officers, Footnote
(1)
Mr. Berle was the Principle Executive Officer (“PEO”) during 2023, 2022 and 2021, Mr. Lindblad was the PEO during 2023, 2021 and 2020. The Non-PEO NEOs for each year were Mr. Felenstein, Mr. Byus and Mr. Bressler, and Mr. Brodsky for 2023 and 2022, and Mr. Goodman for 2022, 2021 and 2020.
(2)
The amounts shown for Compensation Actually Paid have been calculated in accordance with Item 402(v) of Regulation S-K and do not reflect compensation actually earned, realized, or received by the Company’s NEOs. These amounts reflect the Summary Compensation Table total with certain adjustments as described in footnote 3 below.
     
Peer Group Issuers, Footnote
(5)
“Prior Peer Group” represents the FTSE 100 Index, and “Current Peer Group” represents the S&P 1500 Hotels, Resorts and Cruise Lines Index, which the Company has identified as its peer group for purposes of Item 402(v) and which is used by the Company for purposes of compliance with Item 201(e) of Regulation S-K.
     
Adjustment To PEO Compensation, Footnote
(3)
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table. Amounts in the Exclusion of Change in Pension Value column reflect the amounts attributable to the Change in Pension Value reported in the Summary Compensation Table. Amounts in the Inclusion of Pension Service Cost are based on the service cost for services rendered during the listed year. The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
PEO Berle
2020
2021
2022
2023
SCT Total
$ $ 6,936,263 $ 1,635,303 $ 1,463,127
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year
(6,242,973) (575,000) (1,149,992)
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year
9,584,182 278,231
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years
(4,429,394)
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
+ Change in Fair Value as of Vesting Date of Option Awards and
Stock Awards Granted in Prior Fiscal Years For Which Applicable
Vesting Conditions Were Satisfied During Fiscal Year
(649,872) 539,052
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
(2,657,761)
Compensation Actually Paid
$  — $ 10,277,472 $ (3,740,733) $ (1,805,574)
PEO Lindblad
2020
2021
2022
2023
SCT Total
$ 2,376,852 $ 811,127 $ $ 2,352,502
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year
(1,912,242) (772,519) (1,996,000)
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year
3,458,773 748,831 2,254,000
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years
(277,732) (466,575) 76,040
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
+ Change in Fair Value as of Vesting Date of Option Awards and
Stock Awards Granted in Prior Fiscal Years For Which Applicable
Vesting Conditions Were Satisfied During Fiscal Year
(624,171) 124,019 107,579
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock
Awards Granted in Prior Fiscal Years That Failed to Meet
Applicable Vesting Conditions During Fiscal Year
(1,341,061) (30,605)
Compensation Actually Paid
$ 3,021,481 $ (896,178) $ $ 2,763,516
     
Non-PEO NEO Average Total Compensation Amount $ 1,959,443 $ 1,827,250 $ 967,846 $ 1,691,674
Non-PEO NEO Average Compensation Actually Paid Amount $ 2,147,119 722,410 719,423 2,108,405
Adjustment to Non-PEO NEO Compensation Footnote
(3)
Compensation Actually Paid reflects the exclusions and inclusions of certain amounts for the PEO and the Non-PEO NEOs as set forth below. Equity values are calculated in accordance with FASB ASC Topic 718. Amounts in the Exclusion of Stock Awards and Option Awards column are the totals from the Stock Awards and Option Awards columns set forth in the Summary Compensation Table. Amounts in the Exclusion of Change in Pension Value column reflect the amounts attributable to the Change in Pension Value reported in the Summary Compensation Table. Amounts in the Inclusion of Pension Service Cost are based on the service cost for services rendered during the listed year. The amounts in the Inclusion of Equity Values in the tables above are derived from the amounts set forth in the following tables:
NEO
2020
2021
2022
2023
SCT Total
$ 1,691,674 $ 967,846 $ 1,827,250 $ 1,959,443
- Grant Date Fair Value of Option Awards and Stock Awards Granted in Fiscal Year
(1,088,231) (345,728) (1,010,633) (942,749)
+ Fair Value at Fiscal Year-End of Outstanding and Unvested Option Awards and Stock Awards Granted in Fiscal Year
1,951,502 303,478 341,776 1,078,747
+ Change in Fair Value of Outstanding and Unvested Option Awards and Stock Awards Granted in Prior Fiscal Years
(49,992) (239,077) (363,226) 189,140
+ Fair Value at Vesting of Option Awards and Stock Awards Granted in Fiscal Year That Vested During Fiscal Year
+ Change in Fair Value as of Vesting Date of Option Awards and Stock Awards Granted in Prior Fiscal Years For Which Applicable Vesting Conditions Were Satisfied During Fiscal Year
(244,063) 32,904 (72,757) 43,649
- Fair Value as of Prior Fiscal Year-End of Option Awards and Stock Awards Granted in Prior Fiscal Years That Failed to Meet Applicable Vesting Conditions During Fiscal Year
(152,485) (181,111)
Compensation Actually Paid
$ 2,108,405 $ 719,423 $ 722,410 $ 2,147,119
     
Compensation Actually Paid vs. Total Shareholder Return
Relationship between CAP and TSR.   The graph below illustrates the relationship between TSR and the Peer Group TSR as well as the relationship between CAP and TSR for the PEO and average Non-PEO NEOs.
[MISSING IMAGE: lc_paytsr-4clr.jpg]
     
Compensation Actually Paid vs. Net Income
Relationship between CAP and GAAP Net Income.   The graph below reflects the relationship between the PEO and average Non-PEO NEOs CAP and the Company’s Net Income for the applicable fiscal year.
[MISSING IMAGE: lc_paynetincome-4clr.jpg]
     
Compensation Actually Paid vs. Company Selected Measure
Relationship between CAP and Adjusted EBITDA (our Company-Selected Measure).   The graph below reflects the relationship between the PEO and average Non-PEO NEOs CAP and the Company’s Adjusted EBITDA for the applicable fiscal year.
[MISSING IMAGE: lc_payebitda-4clr.jpg]
     
Total Shareholder Return Vs Peer Group [MISSING IMAGE: lc_paytsr-4clr.jpg]      
Tabular List, Table
Performance Measures Used to Link Company Performance and CAP.   The following is a list of performance measures, which in our assessment represent the most important performance measures used by the Company to link compensation actually paid to the named executive officers for FY 2022. Each metric below is used for purposes of determining payouts under either our annual incentive program or vesting of our performance-based stock awards. Please see the CD&A for a further description of these metrics and how they are used in the Company’s executive compensation.

Adjusted EBITDA

Net Yield

Stock Price
     
Total Shareholder Return Amount $ 68.93 47.09 95.41 104.71
Peer Group Total Shareholder Return Amount 114.2 71.38 94.1 77.36
Net Income (Loss) $ (50,000,000) $ (116,100,000) $ (124,700,000) $ (100,400,000)
Company Selected Measure Amount 71,200,000 (11,500,000) (64,000,000) (52,200,000)
Prior Peer Group Total Shareholder Return $ 102.58 $ 98.8 $ 97.91 $ 85.66
Measure:: 1        
Pay vs Performance Disclosure        
Name Adjusted EBITDA      
Non-GAAP Measure Description
(6)
We have determined that Adjusted EBITDA is the financial performance measure that, in our assessment, represents the most important performance measure (that is not otherwise required to be disclosed in the table) used to link compensation actually paid to our named executive officers, for the most recently completed fiscal year, to company performance. A reconciliation of Adjusted EBITDA can be found in our Annual Report.
     
Measure:: 2        
Pay vs Performance Disclosure        
Name Net Yield      
Measure:: 3        
Pay vs Performance Disclosure        
Name Stock Price      
Berle [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount $ 1,463,127 1,635,303 6,936,263
PEO Actually Paid Compensation Amount $ (1,805,574) (3,740,733) 10,277,472
PEO Name Mr. Berle      
Lindblad [Member]        
Pay vs Performance Disclosure        
PEO Total Compensation Amount $ 2,352,502 811,127 2,376,852
PEO Actually Paid Compensation Amount $ 2,763,516 (896,178) 3,021,481
PEO Name Mr. Lindblad      
PEO | Berle [Member] | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (1,149,992) (575,000) (6,242,973)
PEO | Berle [Member] | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 278,231 9,584,182
PEO | Berle [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (4,429,394)
PEO | Berle [Member] | Change In Fair Value As Of Vesting Date Of Current Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount  
PEO | Berle [Member] | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 539,052 (649,872)
PEO | Berle [Member] | Adjustments For Equity Awards Failed To Meet Performance Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (2,657,761)  
PEO | Lindblad [Member] | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (1,996,000) (772,519) (1,912,242)
PEO | Lindblad [Member] | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 2,254,000 748,831 3,458,773
PEO | Lindblad [Member] | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 76,040 (466,575) (277,732)
PEO | Lindblad [Member] | Change In Fair Value As Of Vesting Date Of Current Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount
PEO | Lindblad [Member] | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 107,579 124,019 (624,171)
PEO | Lindblad [Member] | Adjustments For Equity Awards Failed To Meet Performance Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (30,605) (1,341,061)
Non-PEO NEO | Equity Awards Value In Summary Compensation Table (Grant Date Value) [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount (942,749) (1,010,633) (345,728) (1,088,231)
Non-PEO NEO | Year-end Fair Value Of Awards Granted In The Current Fiscal Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 1,078,747 341,776 303,478 1,951,502
Non-PEO NEO | Change In Fair Value Of Outstanding And Unvested Awards Granted In Prior Fiscal Years [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 189,140 (363,226) (239,077) (49,992)
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Current Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount  
Non-PEO NEO | Change In Fair Value As Of Vesting Date Of Prior Year Awards Vested During Current Year [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount 43,649 (72,757) 32,904 (244,063)
Non-PEO NEO | Adjustments For Equity Awards Failed To Meet Performance Conditions [Member]        
Pay vs Performance Disclosure        
Adjustment to Compensation, Amount $ (181,111) $ (152,485)