X0202 4 2006-11-09 0 0001162315 AMBASSADORS GROUP INC EPAX 0001168665 THOMAS MARGARET M 110 SOUTH FERRALL STREET SPOKANE WA 99202 0 1 0 0 Executive Vice President Common Stock 2006-11-09 4 A 0 3000 0 A 173507 D Stock Option (Right to Buy) 27.46 2006-11-09 4 A 0 6000 0 A 2016-11-09 Common Stock 6000 926764 D Includes 153,221 shares of common stock and restricted common stock owned by Mrs. Thomas' spouse, Jeffrey Thomas. The option vests in four equal annual installments beginning November 9, 2007. A toal of 677,986 options are fully vested and exercisable. The remaining 248,778 options are unexercisable. Includes options to purchase 512,801 shares of common stock beneficially owned by Mrs. Thomas' spouse, Jeffrey Thomas, which are fully vested and exercisable. Also includes 220,422 options to purchase common stock beneficially owned by Jeffrey Thomas that are unexercisable. Margaret M. Thomas 2006-11-13