X0306 4 2013-06-05 0 0001162315 AMBASSADORS GROUP INC EPAX 0001258557 KALUSTIAN JAMES M 215 WACHUSETT AVENUE ARLINGTON MA 02476 1 0 0 0 Common Stock 2013-06-05 4 A 0 8427 0 A 19207 D Stock Option 3.56 2013-06-05 4 A 0 18634 0 A 2023-06-05 Common Stock 18634 46299 D Pursuant to a Restricted Stock Award Agreement with the Company dated June 5, 2013, this stock grant will vest on the first anniversary of the date of the award, or the occurrence of the Company's annual stockholders' meeting next following the date of the award, whichever shall occur first. Pursuant to a Stock Option Agreement with the Company dated June 5, 2013, this stock option will vest in equal installments on June 5, in 2014, 2015, 2016 and 2017. Of the 46,299 options held by Mr. Kalustian as of June 7, 2013, 13,957 options have vested and 32,342 options remain unexercisable. James M. Kalustian 2013-06-07