CBL & Associates (CBL) director reports 3,346-share stock grant

Rhea-AI Filing Summary

CBL & Associates Properties Inc. director Marjorie Bowen reported receiving a grant of company stock. On 12/15/2025, she acquired 3,346 shares of common stock at $37.365 per share, bringing her directly held position to 33,440 shares after the transaction. The filing explains that this was a grant of restricted common stock made under the company’s 2021 Equity Incentive Plan, indicating the shares are part of her equity-based compensation and are typically subject to vesting or other conditions.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

BOWEN MARJORIE L.

(Last) (First) (Middle)

C/O CBL PROPERTIES

2030 HAMILTON PLC BLVD, CBL CTR, STE 500

(Street)

CHATTANOOGA TN 37421

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
CBL & ASSOCIATES PROPERTIES INC [ CBL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
12/15/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	12/15/2025		A(1)		3,346	A	$37.365	33,440	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

	/s/ Jeffery V. Curry, attorney-in-fact for Marjorie Bowen	12/17/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transaction did CBL (CBL) director Marjorie Bowen report?

Director Marjorie Bowen reported acquiring 3,346 shares of CBL & Associates Properties Inc. common stock on 12/15/2025 at a price of $37.365 per share.

When did the reported CBL (CBL) stock transaction take place?

The reported transaction by director Marjorie Bowen in CBL & Associates Properties Inc. common stock occurred on 12/15/2025.

How many CBL (CBL) shares does Marjorie Bowen own after this transaction?

Following the reported grant, Marjorie Bowen beneficially owns 33,440 shares of CBL & Associates Properties Inc. common stock, held directly.

What was the price of the CBL (CBL) shares acquired by Marjorie Bowen?

The 3,346 shares of CBL & Associates Properties Inc. common stock acquired by Marjorie Bowen were valued at $37.365 per share in the reported transaction.

Was the CBL (CBL) stock transaction an open-market purchase or an equity grant?

The filing describes the transaction as a grant of restricted common stock pursuant to CBL & Associates Properties Inc.’s 2021 Equity Incentive Plan, indicating it was equity compensation rather than an open-market purchase.

Under what plan was the restricted CBL (CBL) stock granted to Marjorie Bowen?

The restricted common stock granted to director Marjorie Bowen was issued under CBL & Associates Properties Inc.’s 2021 Equity Incentive Plan.