Howard Amster holds 7.8% CBL stake after sales

CBL & ASSOCIATES PROPERTIES INC (CBL) received an Amendment No. 2 to a Schedule 13D from investor Howard Amster and affiliated entities updating their ownership of CBL common stock.

Rhea-AI Filing Summary

CBL & ASSOCIATES PROPERTIES INC (CBL) received an Amendment No. 2 to a Schedule 13D from investor Howard Amster and affiliated entities updating their ownership of CBL common stock. Amster reports beneficial ownership of 2,406,467 shares of common stock, representing 7.8% of the class, based on 30,942,757 shares outstanding as of August 3, 2026.

The filing details that 1,376,435 shares are held directly by Amster, with the balance held through entities and trusts he controls or over which he has voting or dispositive power, including Pleasant Lake Corp, Pleasant Lake Apartments Limited Partnership, Laughlin Holdings LLC, Ramat Securities Ltd., Amster Limited Partnership, NewAx Inc., several charitable remainder unitrusts, and the Howard M. Amster Foundation.

Over the 60 days through August 27, 2026, Amster conducted a series of open‑market sales of CBL shares, including transactions such as 43,000 shares sold on July 31, 2026 at a weighted average price of $58.32 per share and multiple additional sales in the $52–$58 range.

Key Figures

Beneficial ownership: 2,406,467 shares of common stock Ownership percentage: 7.8% Shares outstanding: 30,942,757 shares +5 more

8 metrics

Beneficial ownership 2,406,467 shares of common stock Shares beneficially owned by Howard Amster and related entities

Ownership percentage 7.8% Percent of CBL common stock class represented by 2,406,467 shares

Shares outstanding 30,942,757 shares CBL common stock outstanding as of August 3, 2026

Directly owned shares 1,376,435 shares CBL shares owned directly by Howard Amster

Pleasant Lake Skoien Investments LLC holdings 94,335 shares (0.3%) CBL shares with shared voting and dispositive power

Ramat Securities Ltd. holdings 130,092 shares (0.4%) CBL shares with shared voting and dispositive power

Largest recent single-day sale 43,000 shares at $58.32 per share Open‑market sale by Howard Amster on July 31, 2026 (weighted average price)

Recent sale price range $52.08–$58.32 per share Approximate range of reported weighted average sale prices June 30–August 27, 2026

Key Terms

beneficial owner, dispositive power, Schedule 13D, charitable remainder unitrust, +1 more

5 terms

beneficial owner financial

"Mr. Amster is deemed to be the beneficial owner of (i) 1,376,435 shares"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

dispositive power financial

"over which Mr. Amster has sole voting and dispositive power"

Dispositive power is the authority to decide the final outcome of an asset, legal claim, contract, or corporate action — in effect the power to dispose of or resolve something. For investors it matters because whoever holds that authority can determine who gets paid, who controls an asset or vote, and how risks and returns are allocated; think of it like holding the key that lets you lock in the winner or loser in a deal.

Schedule 13D regulatory

"This Amendment No. 2 to amends the Reporting Persons initial filed on March 14, 2023"

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

charitable remainder unitrust financial

"HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 05/20/2019"

open market financial

"All transactions were sales and were conducted on the open market."

An open market is a system where buying and selling of goods, services, or financial assets happen freely without restrictions or special controls. For investors, it means they can trade assets easily and quickly, which helps determine fair prices based on supply and demand. This environment encourages transparency and competition, making it easier to buy or sell with confidence.

FAQ

How much of CBL (CBL) stock does Howard Amster beneficially own according to this Schedule 13D/A?

Howard Amster reports beneficial ownership of 2,406,467 shares of CBL common stock, representing 7.8% of the outstanding class, based on 30,942,757 shares outstanding as of August 3, 2026.

How is Howard Amster’s CBL (CBL) ownership structured across entities?

Amster directly owns 1,376,435 shares, with additional shares held through entities and trusts, including Pleasant Lake Corp, Pleasant Lake Apartments Limited Partnership, Laughlin Holdings LLC, Ramat Securities Ltd., Amster Limited Partnership, NewAx Inc., several charitable remainder unitrusts, and the Howard M. Amster Foundation.

What recent CBL (CBL) trading activity by Howard Amster is disclosed?

The filing lists open‑market sales over the 60 days through August 27, 2026. Examples include selling 43,000 shares on July 31, 2026 at a weighted average price of $58.32 per share, and multiple other sales in the $52–$58 per share range.

What percentage of CBL (CBL) does Pleasant Lake Skoien Investments LLC hold?

Pleasant Lake Skoien Investments LLC reports beneficial ownership of 94,335 shares of CBL common stock, representing approximately 0.3% of the outstanding shares, with shared voting and dispositive power over all of those shares.

How many CBL (CBL) shares does Ramat Securities Ltd. hold?

Ramat Securities Ltd. is reported to beneficially own 130,092 shares of CBL common stock, representing about 0.4% of the class, with shared voting and dispositive power over those shares.

What is the basis for the 7.8% ownership figure in this CBL (CBL) Schedule 13D/A?

The 7.8% ownership figure is calculated using a denominator of 30,942,757 shares of CBL common stock outstanding as of August 3, 2026, as reported by the issuer on its Form 10‑Q filed on August 7, 2026.

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Available on EDGAR 08/28/2026 - 03:29 PM Accepted by SEC EDGAR 08/28/2026 - 03:28 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 2)

CBL & ASSOCIATES PROPERTIES INC

(Name of Issuer)

COMMON STOCK PAR VALUE $0.001 PER SHARE

(Title of Class of Securities)

124830878

(CUSIP Number)

HOWARD AMSTER
521 35TH ST,
WEST PALM BEACH, FL, 33407
2165951047

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

08/27/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

schemaVersion:

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

Amster Howard

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

PF

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 1,376,435.00
8	Shared Voting Power 1,030,032.00
9	Sole Dispositive Power 1,376,435.00
10	Shared Dispositive Power 1,030,032.00

11

Aggregate amount beneficially owned by each reporting person

2,406,467.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

7.8 %

14

Type of Reporting Person (See Instructions)

IN

Comment for Type of Reporting Person:

*Mr. Amster is deemed to be the beneficial owner of (i) 1,376,435 shares that are owned directly by Mr. Amster: (ii) 377,366 shares that are owned by Pleasant Lake Corp, Pleasant Lake Apts. Limited Partnership, and Laughlin Holdings, all joint filers, over which Mr. Amster has sole voting and dispositive power; (iii) 414,085 shares that are owned in the aggregate by the trusts jointly filing herewith, over which, as trustee, Mr. Amster has sole voting and dispositive power; (iv) the 4,178 shares that are owned by the Howard M. Amster Foundation over which, Mr. Amster, as President, has sole voting and dispositive power; (v) 5,826 shares that are owned by Amster Limited Partnership, which Mr. Amster, as General Partner has sole voting and dispositive power,(vi) 130,092 shares that are owned by Ramat Securities Ltd. which Mr. Amster, as authorized representative and majority member, has shared voting and diSpositive power, (vii) 4,150 shares owned by NewAx Inc., which Mr. Amster, as a Director, has shared voting and dispositive power, and (viii) 94,335 shares held by Pleasant Lake-Skoien Investments LLC, which Mr. Amster, as President of Pleasant Lake Apartments Corp, the General Partner of Pleasant Lake Apartments LP, which is the Managing Member of Pleasant Lake Skoien LLC, has shared voting and dispositive power. **Denominator is based on the 30,942,757 shares of common stock outstanding as of August 3, 2026 as reported by the Issuer on Form 10-Q filed with the Securities and Exchange Commission on August 7, 2026.

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

PLEASANT LAKE SKOIEN INVESTMENTS LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 94,335.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 94,335.00

11

Aggregate amount beneficially owned by each reporting person

94,335.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.3 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

*See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page.

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

PLEASANT LAKE APARTMENTS LIMITED PARTNERSHIP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 257,446.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 257,446.00

11

Aggregate amount beneficially owned by each reporting person

257,446.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.8 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

*See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page.

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 05/20/2019

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 13,865.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 13,865.00

11

Aggregate amount beneficially owned by each reporting person

13,865.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

*See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page.

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #7 U/A DTD 05/20/2019

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 64.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 64.00

11

Aggregate amount beneficially owned by each reporting person

64.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

*See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page.

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

AMSTER LIMITED PARTNERSHIP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 5,826.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 5,826.00

11

Aggregate amount beneficially owned by each reporting person

5,826.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

*See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page.

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 08/10/2021

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 236.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 236.00

11

Aggregate amount beneficially owned by each reporting person

236.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

*See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page.

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

LAUGHLIN HOLDINGS LLC

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 117,743.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 117,743.00

11

Aggregate amount beneficially owned by each reporting person

117,743.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.4 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

*See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page.

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

RAMAT SECURITIES LTD

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 130,092.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 130,092.00

11

Aggregate amount beneficially owned by each reporting person

130,092.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.4 %

14

Type of Reporting Person (See Instructions)

PN

Comment for Type of Reporting Person:

*See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page.

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #3 U/A DTD 11/23/2021

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 204,307.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 204,307.00

11

Aggregate amount beneficially owned by each reporting person

204,307.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

*See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page.

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

PLEASANT LAKE APARTMENTS CORP

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 177.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 177.00

11

Aggregate amount beneficially owned by each reporting person

177.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

*See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page.

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

HOWARD AMSTER 2022 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 03/09/2022

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 35,841.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 35,841.00

11

Aggregate amount beneficially owned by each reporting person

35,841.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.1 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

*See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page.

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

HOWARD AMSTER FOUNDATION

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,178.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,178.00

11

Aggregate amount beneficially owned by each reporting person

4,178.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

OO, CO

Comment for Type of Reporting Person:

*See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page.

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

HOWARD AMSTER 2005 CHARITABLE REMAINDER UNITRUST U/A DTD 01/11/2005

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

OHIO

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 159,772.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 159,772.00

11

Aggregate amount beneficially owned by each reporting person

159,772.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.5 %

14

Type of Reporting Person (See Instructions)

OO

Comment for Type of Reporting Person:

*See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page.

SCHEDULE 13D

CUSIP Number(s): 124830878

1

Name of reporting person

NEWAX INC.

2

Check the appropriate box if a member of a Group (See Instructions)

(a)
(b)

3

SEC use only

4

Source of funds (See Instructions)

WC

5

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

6

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 4,150.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 4,150.00

11

Aggregate amount beneficially owned by each reporting person

4,150.00

12

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

13

Percent of class represented by amount in Row (11)

0.0 %

14

Type of Reporting Person (See Instructions)

CO

Comment for Type of Reporting Person:

*See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page.

SCHEDULE 13D

Item 1.	Security and Issuer
(a)	Title of Class of Securities: COMMON STOCK PAR VALUE $0.001 PER SHARE
(b)	Name of Issuer: CBL & ASSOCIATES PROPERTIES INC
(c)	Address of Issuer's Principal Executive Offices: 2030 HAMILTON PLACE BVLD, SUITE 500, CBL CENTER, CHATTANOOGA, TENNESSEE , 37421.
Item 1 Comment: This Amendment No, 2 to Schedule 13D (this Amendment No. 2) amends the Reporting Persons initial Schedule 13D filed on March 14, 2023 (the Initial Schedule 13D), and Amendment 1 filed October 22, 2024 with respect to the shares of CBL & Associates Inc. Common Stock (the Common Stock), a Delaware corporation (the Issuer). Except as specifically amended by this Amendment No. 2 and noted in the paragraph below, the Schedule 13D remains unchanged. Unless otherwise indicated, each capitalized term used but not specifically defined herein shall have the meaning ascribed to such term in the Initial Schedule 13D.
Item 5.	Interest in Securities of the Issuer
(a)	(a) See Items 11 and 13 of the cover pages of this Schedule 13D, as amended , which Items are incorporated herein by reference, for the aggregate number of shares and percentage of the Common Stock identified pursuant to Item 1 beneficially owned by each of the Reporting Persons.
(b)	(b) See Items 7, 8, 9, and 10 of the cover pages to this Schedule 13D, which Items are incorporated herein by reference, for the aggregate number of shares of the Common Stock beneficially owned by each of the Reporting Persons as to which there is sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition of such shares of the Common Stock.
(c)	(c) The following table sets forth all transactions with respect to shares of the Common Stock effected during the past sixty (60) days by any of the Reporting Persons, inclusive of any transactions effected through 5:00 p.m., New York City time, on August 27, 2026. All transactions were sales and were conducted on the open market. If the shares were purchased in multiple transactions on a single trading day, the price per share reported is the weighted average price. Trade Date Shares Sold Seller Price Per Share High Low 06/30/26 10,500 Howard Amster 52.85 52.86 52.81 07/06/26 25,900 Howard Amster 53.51 53.68 53.09 07/07/26 42,500 Howard Amster 53.71 54.20 53.20* 07/08/26 8,000 Howard Amster 53.24 53.55 53.00 07/09/26 22,200 Howard Amster 52.35 52.55 52.30 07/10/26 500 Howard Amster 52.10 52.10 52.10 07/13/26 19,150 Howard Amster 52.19 52.65 51.66 07/14/26 15,000 Howard Amster 52.08 52.12 52.00 07/15/26 1,400 Howard Amster 52.71 52.71 52.71 07/16/26 6,600 Howard Amster 53.92 54.00 53.60 07/20/26 24,000 Howard Amster 55.07 55.20 54.79 07/21/26 2,700 Howard Amster 55.20 55.30 55.08 07/22/26 23,400 Howard Amster 55.85 56.14 55.66 07/23/26 4,600 Howard Amster 56.56 56.72 56.00 07/24/26 10,000 Howard Amster 57.02 57.17 56.15* 07/31/26 43,000 Howard Amster 58.32 58.82 58.05 08/25/26 12,000 Howard Amster 55.75 55.88 55.82 08/26/26 17,000 Howard Amster 55.43 55.60 55.34 08/27/26 2,500 Howard Amster 54.89 54.90 55.87 *Filer will furnish the Commission (upon request) with full details of number of shares sold at each separate price
(d)	(d) Other than the Reporting Persons, no other person is known by the Reporting Persons to have the right to receive or direct the receipt of dividends from, or the proceeds from the sale of the shares of the shares of the CBL Common Stock of the Issuer beneficially owned by the reporting persons
(e)	(e) Not Applicable. (SIGNATURE PAGE FOLLOWS)

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Amster Howard

Signature:	HOWARD AMSTER
Name/Title:	HOWARD AMSTER
Date:	08/28/2026

PLEASANT LAKE SKOIEN INVESTMENTS LLC

Signature:	HOWARD AMSTER
Name/Title:	PRESIDENT PLEASANT LAKE APARTMENTS CORP GENERAL PARTNER PLEASANT LAKE APARTMENTS LP MANAGING MEMBER
Date:	08/28/2026

PLEASANT LAKE APARTMENTS LIMITED PARTNERSHIP

Signature:	HOWARD AMSTER
Name/Title:	PRESIDENT PRESIDENT LAKE CORP GENERAL PARTNER
Date:	08/28/2026

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 05/20/2019

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2026

HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #7 U/A DTD 05/20/2019

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2026

AMSTER LIMITED PARTNERSHIP

Signature:	HOWARD AMSTER
Name/Title:	GENERAL PARTNER
Date:	08/28/2026

HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 08/10/2021

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2026

LAUGHLIN HOLDINGS LLC

Signature:	HOWARD AMSTER
Name/Title:	PRESIDENT PLEASANT LAKE APARTMENTS CORP GENERAL PARTNER PLEASANT LAKE APARTMENTS LP MANAGING MEMBER
Date:	08/28/2026

RAMAT SECURITIES LTD

Signature:	HOWARD AMSTER
Name/Title:	MAJORITY OWNER AND AUTHORIZED REPRESENTATIVE
Date:	08/28/2026

HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #3 U/A DTD 11/23/2021

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2026

PLEASANT LAKE APARTMENTS CORP

Signature:	HOWARD AMSTER
Name/Title:	PRESIDENT
Date:	08/28/2026

HOWARD AMSTER 2022 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 03/09/2022

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2026

HOWARD AMSTER FOUNDATION

Signature:	HOWARD AMSTER
Name/Title:	PRESIDENT
Date:	08/28/2026

HOWARD AMSTER 2005 CHARITABLE REMAINDER UNITRUST U/A DTD 01/11/2005

Signature:	HOWARD AMSTER
Name/Title:	TRUSTEE
Date:	08/28/2026

NEWAX INC.

Signature:	HOWARD AMSTER
Name/Title:	DIRECTOR
Date:	08/28/2026