CBL & Associates CEO sells 50,000 shares near $53
CBL’s CEO Stephen D. Lebovitz reported open-market sales totaling 50,000 common shares on September 16, 2026.
Rhea-AI Filing Summary
CBL & ASSOCIATES PROPERTIES INC (CBL) reported that its CEO and director, Stephen D. Lebovitz, sold common stock in two open-market transactions on September 16, 2026. He sold 43,133 shares at a weighted average price of $52.7265 per share and 6,867 shares at a weighted average price of $53.4692 per share, totaling 50,000 shares sold directly. The weighted average prices reflect multiple trades within disclosed intraday price ranges. The filing also notes indirect holdings through irrevocable trusts for which Lebovitz disclaims beneficial ownership except to the extent of his pecuniary interest.
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Insights
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Insider Trade Summary
Net Seller: 50,000 shares
Net Sell
4 txns
Insider
LEBOVITZ STEPHEN D
Role
CEO
Sold
50,000 shs ($2.64M)
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Sale | Common Stock F1 | 43,133 | $52.7265 | $2.27M |
| Sale | Common Stock F2 | 6,867 | $53.4692 | $367K |
| holding | Common Stock F3, F4 | -- | -- | -- |
| holding | Common Stock F3, F5 | -- | -- | -- |
Holdings After Transaction:
Common Stock — 507,019 shares (Direct);
Common Stock — 322 shares (Indirect, By Trust)
Footnotes (5)
- F1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $52.3550 to $53.3500, inclusive. The Reporting Person undertakes to provide to any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information already provided to the Issuer regarding the number of shares sold at each separate price within such range. Please submit any such request through the Issuer's Chief Legal Officer, Jeffery V. Curry.
- F2. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $53.3600 to $53.6050, inclusive. The Reporting Person undertakes to provide to any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information already provided to the Issuer regarding the number of shares sold at each separate price within such range. Please submit any such request through the Issuer's Chief Legal Officer, Jeffery V. Curry.
- F3. The Reporting Person disclaims beneficial ownership of the reported securities except to the extent of his pecuniary interest therein.
- F4. By Stephen D. Lebovitz Irrevocable Trust U/A dated 2/27/1998, Charles B. Lebovitz, Trustee
- F5. By Stephen D. Lebovitz and Lisa S. Lebovitz Irrevocable Trust U/A dated 4/5/2005, Michael I. Lebovitz, Trustee
Key Figures
Shares sold (first transaction): 43,133 shares
Weighted average price (first transaction): $52.7265 per share
Shares sold (second transaction): 6,867 shares
+4 more
7 metrics
Shares sold (first transaction)
43,133 shares
Open-market sale of common stock on September 16, 2026
Weighted average price (first transaction)
$52.7265 per share
43,133-share sale; trades ranged from $52.3550 to $53.3500
Shares sold (second transaction)
6,867 shares
Open-market sale of common stock on September 16, 2026
Weighted average price (second transaction)
$53.4692 per share
6,867-share sale; trades ranged from $53.3600 to $53.6050
Total shares sold
50,000 shares
Aggregate of both reported sales by the CEO
First sale price range
$52.3550–$53.3500 per share
Underlying trade range for the 43,133-share weighted average price
Second sale price range
$53.3600–$53.6050 per share
Underlying trade range for the 6,867-share weighted average price
Key Terms
weighted average price, beneficial ownership, pecuniary interest, Irrevocable Trust
4 terms
weighted average price financial
"The price reported in Column 4 is a weighted average price."
Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.
beneficial ownership financial
"The Reporting Person disclaims beneficial ownership of the reported securities"
Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.
pecuniary interest financial
"except to the extent of his pecuniary interest therein."
Irrevocable Trust financial
"By Stephen D. Lebovitz Irrevocable Trust U/A dated 2/27/1998"
An irrevocable trust is a legal arrangement where an owner transfers assets into a separate entity managed by a trustee and gives up the power to modify or reclaim those assets. For investors it matters because putting stock or other holdings into such a trust can change who controls and benefits from the assets, affect taxes and creditor protection, and influence how easy it is to sell or value those holdings—like placing valuables in a locked safe overseen by someone else.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What insider transaction did CBL’s CEO report on this Form 4?
Stephen D. Lebovitz, CEO of CBL, reported two open-market sales of common stock on September 16, 2026, totaling 50,000 shares sold directly at weighted average prices around $52.73 and $53.47 per share.
What price ranges applied to the CBL stock sales reported by the CEO?
For the 43,133-share sale, trades occurred between $52.3550 and $53.3500 per share. For the 6,867-share sale, trades occurred between $53.3600 and $53.6050 per share, all reflected as weighted average prices.
Were the CBL insider stock sales made under a Rule 10b5-1 trading plan?
The filing’s Rule 10b5-1 checkbox is not marked as affirmative, and no footnote indicates a trading plan, so the reported September 16, 2026 sales are not identified as being made under a Rule 10b5-1 plan.
What does the Form 4 say about Stephen D. Lebovitz’s indirect CBL holdings?
The Form 4 lists indirect ownership of common stock by trusts. It states that Stephen D. Lebovitz disclaims beneficial ownership of those securities except to the extent of his pecuniary interest, with specific irrevocable trusts identified in the footnotes.
AI-generated analysis. How Rhea-AI works. Not financial advice.
