CBL (CBL) Executive VP granted restricted and performance stock

Rhea-AI Filing Summary

CBL & Associates Properties Executive VP - Management Alan L. Lebovitz reported multiple stock awards dated 02/11/2026. He acquired 4,310 shares of common stock as a restricted stock grant under the 2021 Equity Incentive Plan, 21,605 restricted shares tied to his 2023 Performance Stock Unit Award Agreement, and 10,571 shares issued under his 2022 Performance Stock Unit Award Agreement, all at a stated price of $0 per share. Following these awards, he directly owned 86,125 common shares. An additional 289 shares are held indirectly by an irrevocable trust, for which he disclaims beneficial ownership except for any pecuniary interest.

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^*

LEBOVITZ ALAN L.

(Last) (First) (Middle)

CBL CENTER, SUITE 500

2030 HAMILTON PLACE BLVD.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Executive VP - Management

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/11/2026		A(1)		4,310	A	$0	53,949	D
Common Stock	02/11/2026		A(2)		21,605	A	$0	75,554	D
Common Stock	02/11/2026		A(3)		10,571	A	$0	86,125	D
Common Stock								289	I(4)(5)	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)
				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.

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. By Alan L. Lebovitz and Allison G. Lebovitz Irrevocable Trust U/A dated 3/24/2003, Michael I. Lebovitz, Trustee

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

	/s/ Jeffery V. Curry, attorney-in-fact for Alan 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.
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FAQ

What insider transaction did CBL Executive VP Alan L. Lebovitz report?

Alan L. Lebovitz reported receiving equity awards in CBL common stock. On 02/11/2026, he acquired multiple blocks of restricted and performance-based shares at a stated price of $0 per share, increasing his direct ownership stake in the company.

How many CBL common shares did Alan L. Lebovitz acquire on 02/11/2026?

On 02/11/2026, Alan L. Lebovitz acquired 4,310 restricted shares, 21,605 restricted shares linked to his 2023 performance stock unit award, and 10,571 shares issued under his 2022 performance stock unit award, all recorded at a transaction price of $0 per share.

What is Alan L. Lebovitz’s CBL share ownership after the reported grants?

After the reported transactions, Alan L. Lebovitz directly owned 86,125 shares of CBL common stock. The filing also notes 289 additional shares held indirectly through a trust structure associated with him, separate from his direct holdings.

What plans or agreements governed the CBL stock granted to Alan L. Lebovitz?

The stock awards were granted under specific company plans and agreements. One grant came from the 2021 Equity Incentive Plan, while two issuances were made under Alan L. Lebovitz’s 2022 and 2023 Performance Stock Unit Award Agreements, as described in the transaction footnotes.

At what price were Alan L. Lebovitz’s new CBL shares recorded?

Each of Alan L. Lebovitz’s reported stock acquisitions on 02/11/2026 was recorded at a transaction price of $0 per share. This reflects the nature of the awards as grants or issuances under incentive and performance stock unit arrangements rather than market purchases.

How are the 289 indirectly held CBL shares attributed to Alan L. Lebovitz?

The 289 indirectly held CBL shares are owned by the Alan L. Lebovitz and Allison G. Lebovitz Irrevocable Trust, with Michael I. Lebovitz as trustee. Alan L. Lebovitz disclaims beneficial ownership of these shares except to the extent of any pecuniary interest.