CBL CEO Lebovitz reports stock grants, tax offsets

CBL & Associates Properties CEO Stephen D. Lebovitz reported several equity award transactions in Common Stock on February 11, 2026.

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Rhea-AI Filing Summary

CBL & Associates Properties CEO Stephen D. Lebovitz reported several equity award transactions in Common Stock on February 11, 2026. The filing shows two tax-withholding dispositions of 2,755 and 49,909 shares at prices of $36.545 and $36.045 per share, respectively.

He also acquired 12,955 restricted shares under the 2021 Equity Incentive Plan, 103,271 shares under his 2023 Performance Stock Unit Award Agreement, and 126,832 shares under his 2022 Performance Stock Unit Award Agreement, all at $0 per share as grants. Following these transactions, he directly owned 562,638 shares and had additional indirect holdings of 53 and 269 shares through trusts, for which he disclaims beneficial ownership except for his pecuniary interest.

Insider Trade Summary

7 transactions reported

Mixed 7 txns

Insider LEBOVITZ STEPHEN D

Role CEO

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	2,755	$36.545	$101K
Grant/Award	Common Stock	12,955	$0.00	$0.00
Grant/Award	Common Stock	103,271	$0.00	$0.00
Grant/Award	Common Stock	126,832	$0.00	$0.00
Exercise Price or Tax Liability	Common Stock	49,909	$36.045	$1.80M
holding	Common Stock	--	--	--
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 562,638 shares (Direct); Common Stock — 322 shares (Indirect, By Trust)

Footnotes (6)

F1. Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.
F2. Grant of restricted Common Stock in accordance with the Reporting Person's 2023 Performance Stock Unit Award Agreement.
F3. Common Stock issued in accordance with the Reporting Person's 2022 Performance Stock Unit Award Agreement.
F4. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
F5. By Stephen D. Lebovitz Irrevocable Trust U/A dated 2/27/1998, Charles B. Lebovitz, Trustee
F6. By Stephen D. Lebovitz and Lisa S. Lebovitz Irrevocable Trust U/A dated 4/5/2005, Michael I. Lebovitz, Trustee

FAQ

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What insider transactions did CBL CEO Stephen D. Lebovitz report on February 11, 2026?

Stephen D. Lebovitz reported tax-withholding dispositions and stock grants on February 11, 2026. Two F-code transactions covered tax liabilities, and three A-code transactions were equity awards under incentive and performance stock unit agreements, all settled in Common Stock at zero acquisition cost.

How many CBL common shares were withheld for Stephen D. Lebovitz’s taxes?

Two tax-withholding dispositions were reported for 2,755 and 49,909 CBL Common Stock shares. These F-code transactions settled tax obligations at share prices of $36.545 and $36.045, respectively, reducing directly held shares while avoiding a separate cash payment for associated tax liabilities.

What stock awards did CBL grant to CEO Stephen D. Lebovitz in this Form 4?

Lebovitz received 12,955 restricted shares under the 2021 Equity Incentive Plan, 103,271 shares tied to his 2023 Performance Stock Unit Award Agreement, and 126,832 shares from his 2022 Performance Stock Unit Award Agreement. All were recorded as A-code acquisitions at a price of $0 per share.

How many CBL shares did Stephen D. Lebovitz own after these transactions?

After the reported transactions, Lebovitz directly owned 562,638 CBL Common Stock shares. The filing also lists indirect holdings of 53 and 269 shares through irrevocable trusts, where he disclaims beneficial ownership except to the extent of any pecuniary interest described in the footnotes.

How are Stephen D. Lebovitz’s trust-held CBL shares treated in this Form 4?

The Form 4 shows 53 and 269 CBL shares held indirectly "By Trust." Footnotes identify specific irrevocable trusts and trustees and state that Lebovitz disclaims beneficial ownership of these securities except to the extent of his pecuniary interest, clarifying his indirect economic exposure.

What do the Form 4 transaction codes F and A mean for CBL’s CEO?

Code F indicates payment of exercise price or tax liability by delivering securities, here used for share-withholding on taxes. Code A reflects grants, awards, or other acquisitions, covering the restricted stock and performance stock unit-related issuances Lebovitz received at a stated price of $0 per share.

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Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 02/13/2026 - 02:18 PM EST

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

LEBOVITZ STEPHEN D

(Last)

(First)

(Middle)

CBL CENTER, SUITE 500

2030 HAMILTON PLACE BLVD

(Street)

CHATTANOOGA

374216000

(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
X	Officer (give title below)	Other (specify below)
	CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/11/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/11/2026		F		2,755	D	$36.545	369,489	D
Common Stock	02/11/2026		A⁽¹⁾		12,955	A	$0	382,444	D
Common Stock	02/11/2026		A⁽²⁾		103,271	A	$0	485,715	D
Common Stock	02/11/2026		A⁽³⁾		126,832	A	$0	612,547	D
Common Stock	02/11/2026		F		49,909	D	$36.045	562,638	D
Common Stock								53	I⁽⁴⁾⁽⁵⁾	By Trust
Common Stock								269	I⁽⁴⁾⁽⁶⁾	By Trust

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

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

2. Grant of restricted Common Stock in accordance with the Reporting Person's 2023 Performance Stock Unit Award Agreement.

3. Common Stock issued in accordance with the Reporting Person's 2022 Performance Stock Unit Award Agreement.

4. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.

5. By Stephen D. Lebovitz Irrevocable Trust U/A dated 2/27/1998, Charles B. Lebovitz, Trustee

6. By Stephen D. Lebovitz and Lisa S. Lebovitz Irrevocable Trust U/A dated 4/5/2005, Michael I. Lebovitz, Trustee

	/s/ Jeffery V. Curry, attorney-in-fact for Stephen D. Lebovitz	02/13/2026
	** 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR