X0202 4 2007-11-08 0 0001162315 AMBASSADORS GROUP INC EPAX 0001168665 THOMAS MARGARET M 2001 SOUTH FLINT ROAD SPOKANE WA 99224 0 1 0 0 Executive Vice President Common Stock 2007-11-08 4 A 0 4200 0 A 216707 D Stock Option (Right to buy) 17.11 2007-11-08 4 A 0 12600 0 D 2017-11-08 Common Stock 12600 939082 D Includes 192,221 shares of common stock and restricted common stock owned by Mrs. Thomas' spouse, Jeffrey Thomas. The options vest in four equal annual installments beginning November 8, 2008. Of the 939,082 options beneficially held by Mr. and Mrs. Thomas, as of November 13, 2007, 649,018 have vested and 290,064 remain unexercisable. Includes 767,110 options to purchase common stock owned by Mr. Thomas, of which 505,785 have vested and 261,325 remain unexercisable. Margaret M. Thomas 2007-11-13