CBL CFO uses 1,968 shares to cover costs

CBL’s CFO settled option exercise costs or taxes with 1,968 shares, retaining 128,639 shares directly.

Rhea-AI Filing Summary

CBL & ASSOCIATES PROPERTIES INC (CBL) reported that its Executive Vice President and Chief Financial Officer, Benjamin W. Jaenicke, had 1,968 shares of common stock withheld or delivered on September 1, 2026, to satisfy the exercise price or tax liability at $54.365 per share. Following this transaction, he directly holds 128,639 shares of CBL common stock. No Rule 10b5-1 trading plan is reported for this transaction.

Insider Trade Summary

Exercise Price or Tax Liability: 1,968 shares

Exercise Price or Tax Liability 1 txn

Insider Jaenicke Benjamin W

Role EVP - Chief Financial Officer

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	1,968	$54.365	$107K

Holdings After Transaction: Common Stock — 128,639 shares (Direct)

Key Figures

Shares used for exercise price or tax liability: 1,968 shares Share value for tax or exercise settlement: $54.365 per share Shares held after transaction: 128,639 shares

3 metrics

Shares used for exercise price or tax liability 1,968 shares Common stock withheld or delivered on September 1, 2026

Share value for tax or exercise settlement $54.365 per share Valuation applied to the 1,968 shares on September 1, 2026

Shares held after transaction 128,639 shares Direct ownership of CBL common stock by the CFO after September 1, 2026

Key Terms

Rule 10b5-1 trading plan, exercise price, tax liability

3 terms

Rule 10b5-1 trading plan regulatory

"Checkbox indicating whether transactions were made pursuant to a Rule 10b5-1 trading plan"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

exercise price financial

"Payment of exercise price or tax liability by delivering or withholding securities"

The exercise price is the fixed amount at which you can buy or sell an asset, like a stock, when using an options contract. It matters because it helps determine whether exercising the option will be profitable or not, depending on the current market price. Think of it as the set price you agree on today to buy or sell later.

tax liability financial

"Payment of exercise price or tax liability by delivering or withholding securities"

FAQ

What insider transaction did CBL (CBL) disclose for its CFO?

CBL disclosed that CFO Benjamin W. Jaenicke had 1,968 shares of common stock withheld or delivered on September 1, 2026 to cover exercise price or tax liability, a non-market disposition rather than an open-market sale.

At what price per share were the CBL (CBL) shares used to cover costs valued?

The 1,968 shares of CBL common stock used to cover exercise price or tax liability were valued at $54.365 per share, according to the Form 4 disclosure for CFO Benjamin W. Jaenicke.

How many CBL (CBL) shares does the CFO hold after this Form 4 transaction?

After the September 1, 2026 transaction, CFO Benjamin W. Jaenicke directly holds 128,639 shares of CBL common stock, as reported in the Form 4 filing.

Was the CBL (CBL) CFO’s share disposition made under a Rule 10b5-1 trading plan?

No. The Form 4 indicates that the transaction was not made pursuant to a Rule 10b5-1 trading plan, as the related affirmation checkbox is not marked.

Did the CBL (CBL) Form 4 report any open-market purchases or sales by the CFO?

No. The Form 4 reports only a disposition of 1,968 shares to cover exercise price or tax liability; it does not report any open-market purchases or sales by the CFO.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/03/2026 - 03:30 PM Accepted by SEC EDGAR 09/03/2026 - 03:29 PM Learn about SEC filing dates

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^*

Jaenicke Benjamin W

(Last) (First) (Middle)

C/O CBL PROPERTIES

2030 HAMILTON PLC BLVD, CBL CTR, STE 500

(Street)

CHATTANOOGA TENNESSEE 37421

(City) (State) (Zip)

UNITED STATES

(Country)

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

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP - Chief Financial Officer

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/01/2026

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

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

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

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	09/01/2026		F		1,968	D	$54.365	128,639	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:

	/s/ Jeffery V. Curry, attorney-in-fact for Benjamin W. Jaenicke	09/03/2026
	** 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.
* Form 4: SEC 1474 (03-26)