CBL exec files Form 4 for stock sales; 39,538 shares remain

Rhea-AI Filing Summary

CBL & Associates Properties (CBL): Executive Vice President–Accounting Andrew F. Cobb reported open‑market sales of common stock on 10/10/2025. He sold 6,917 shares at a weighted average price of $28.3503 and 451 shares at a weighted average price of $29.064. Following these transactions, he beneficially owned 39,538 shares, including 21,890 shares held in a joint account with his spouse. The sales were executed across multiple trades within disclosed price ranges.

Insights

Corporate governance and insider activity analyst

Routine insider sale with modest size; neutral signal.

CBL disclosed Form 4 sales by an executive officer on 10/10/2025, with 6,917 shares at a weighted average of $28.3503 and 451 shares at $29.064. Post‑trade holdings are 39,538 shares, which includes 21,890 jointly held with a spouse.

These are open‑market transactions with prices disclosed as weighted averages and detailed ranges available. Such filings provide transparency into personal portfolio moves but do not, by themselves, signify operational or financial changes.

Holders can note the remaining stake of 39,538 shares; actual implications depend on future disclosures and additional filings, if any.

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).

1. Name and Address of Reporting Person^*

Cobb Andrew Franklin

(Last) (First) (Middle)

CBL CENTER, STE 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)
	Exec VP-Accounting

3. Date of Earliest Transaction (Month/Day/Year)
10/10/2025

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	10/10/2025		S		6,917	D	$28.3503(1)	39,989	D(2)
Common Stock	10/10/2025		S		451	D	$29.064(3)	39,538	D(2)

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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $28.04 to $29.03, 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.

2. Following the completion of all sales, this total includes 21,890 shares held in an account owned jointly by the Reporting Person and his spouse.

3. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $29.04 to $29.10, 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.

	/s/ Jeffery V. Curry, attorney-in-fact for Andrew F. Cobb	10/14/2025
	** 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.

FAQ

What insider transaction did CBL (CBL) disclose?

An executive officer reported selling 6,917 shares at a weighted average price of $28.3503 and 451 shares at a weighted average price of $29.064 on 10/10/2025.

Who made the trades reported by CBL (CBL)?

Executive Vice President–Accounting Andrew F. Cobb reported the transactions.

How many CBL (CBL) shares does the insider own after the sales?

Following the transactions, the insider beneficially owned 39,538 shares.

Were the CBL (CBL) sales single trades or multiple trades?

They were executed in multiple transactions; prices are reported as weighted averages with ranges disclosed.

What portion of the post‑trade holdings are jointly held for CBL (CBL)?

The total includes 21,890 shares held in a joint account with the insider’s spouse.

What were the transaction dates for the CBL (CBL) insider sales?

The reported transactions occurred on 10/10/2025.