CBL & Associates Properties (CBL) discloses director grant of 3,346 shares

Rhea-AI Filing Summary

CBL & Associates Properties director Robert G. Gifford received a grant of 3,346 shares of restricted common stock on 12/15/2025 at $37.365 per share under the company’s 2021 Equity Incentive Plan. After this award, he directly beneficially owns 20,754 shares of CBL common stock.

Insider Trade Summary

Net Buyer: 3,346 shares

Net Buy 1 txn

Insider Gifford Robert G

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	3,346	$37.365	$125K

Holdings After Transaction: Common Stock — 20,754 shares (Direct)

Footnotes (1)

1. F1. Grant of restricted Common Stock pursuant to the 2021 Equity Incentive Plan.

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Form 4 Insider Transactions: What Each Field Means →

Accepted by SEC EDGAR 12/17/2025 - 03:03 PM Learn about SEC filing dates

FAQ

What insider stock transaction did CBL (CBL) report for its director?

CBL & Associates Properties reported that director Robert G. Gifford received a grant of 3,346 shares of restricted common stock on 12/15/2025.

How many CBL shares does Robert G. Gifford own after the 12/15/2025 grant?

Following the 12/15/2025 restricted stock grant, Robert G. Gifford directly beneficially owns 20,754 shares of CBL common stock.

What price is associated with the CBL restricted stock grant reported on 12/15/2025?

The restricted common stock granted to Robert G. Gifford on 12/15/2025 is reported at a price of $37.365 per share.

Was the CBL director transaction a purchase or an equity award?

The transaction is described as a grant of restricted Common Stock rather than an open-market purchase, pursuant to the company’s equity plan.

Under which plan was the CBL restricted stock granted to Robert G. Gifford?

The 3,346 restricted shares of CBL common stock were granted under the 2021 Equity Incentive Plan.

What is Robert G. Gifford’s role at CBL & Associates Properties?

Robert G. Gifford is identified as a director of CBL & Associates Properties in the reported information.

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^*

Gifford Robert G

(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	20,754	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 Robert G. Gifford	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).
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.