X0303 4/A 2011-02-18 2011-02-22 0 0001162315 AMBASSADORS GROUP INC EPAX 0001007911 UEBERROTH JOHN A 26 CORPORATE PLAZA SUITE 150 NEWPORT BEACH CA 92660 1 0 0 0 Common Stock 2010-12-20 4 G 0 10000 0 D 689500 I See Footnote Common Stock 2011-02-18 4 S 0 10000 10.93 D 679500 I See Footnote Common Stock 2011-02-18 4 S 0 5000 10.9 D 674500 I See Footnote At the conclusion of all sales on February 18, 2011, Mr. Ueberroth's indirect beneficial ownership consists of 398,000 shares of common stock held by the John and Gail Ueberroth Revocable Trust #1 for which Mr. Ueberroth has shared voting power, and 276,500 shares held by the John and Gail Ueberroth Trust #2 for which Mr. Ueberroth has shared voting power. The amounts set forth in Table I, Section 5 above, do not include 61,000 shares of common stock held by the John and Gail Ueberroth Family Foundation. The sales reported in this Form 4 were effected pursuant to a Rule 10b5-1 trading plan adopted by the reporting person on February 17, 2011. On December 20, 2010, 10,000 shares of common stock held by the John and Gail Ueberroth Trust #2 were gifted to the John and Gail Ueberroth Family Foundation. The disposition of these shares was not reflected in the Form 4 filed by Mr. Ueberroth on February 22, 2011. John A. Ueberroth 2011-02-24