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Lee Enterprises, Inc. filings document the formal disclosures of a Nasdaq-listed local media company with common stock outstanding. The record includes Form 8-K reports on preliminary operating results, Regulation FD materials, executive appointments, annual-meeting voting results, shareholder proposal deadlines, material agreements and capital-structure changes.
Proxy statements and related meeting filings describe board elections, executive compensation, charter and share-authorization matters, stock issuance approvals and shareholder voting mechanics. Other disclosures address the company’s digital-subscription and advertising model, the transition from print media, credit-facility and debt terms, preferred share purchase rights, governance practices and risk factors including advertising demand, subscription trends, technology systems, cybersecurity, labor costs, newsprint and other input costs, competition and Nasdaq listing status.
Rinehults Joshua Paul reported acquisition or exercise transactions in this Form 4 filing.
LEE ENTERPRISES, Inc reported that V.P., CFO and Treasurer Joshua Paul Rinehults received awards tied to company stock. On August 6, 2026 he was granted 81,374 performance rights, each representing a contingent right to receive one share of common stock, vesting on September 30, 2029 upon satisfaction of performance criteria. A corresponding 81,374-share common stock award is now reported, bringing his directly held common shares to 83,552. The company notes an earlier administrative error had under-reported the August 6, 2026 award by 25,955 shares, which this amendment corrects.
LEE ENTERPRISES, Inc reported equity awards for President & CEO Nathan E. Bekke. On August 6, 2026, he received 158,228 performance rights, each tied to one share of common stock and vesting on September 30, 2029 subject to stock performance criteria, and a related 158,228-share common stock entry that corrects a prior award that had been under-reported by 50,469 shares. The filing also records March 11, 2025 grants of an employee stock option for 5,946 shares at a $16.36 exercise price, vesting in three equal annual installments beginning December 16, 2025, and 7,273 performance rights vesting on September 26, 2027 subject to performance conditions.
Lee Enterprises, Incorporated approved one-time transition equity awards for President and CEO Nathan E. Bekke and Vice President, CFO and Treasurer Joshua P. Rinehults under its 2020 Long-Term Incentive Plan. The awards have target values of $1.75 million for Bekke and $900,000 for Rinehults and are separate from annual long-term incentives. Each award is split 50% into performance stock units and 50% into restricted stock. Performance stock units are tied 50% to stock price performance and 50% to Adjusted EBITDA through a performance period ending in September 2028, with payouts from 0% to 200% of target. Restricted stock vests in three equal annual installments, subject to continued service. The company also adopted a revised annual long-term incentive framework, setting target award values of 300%, 225% and 175% of base compensation for the CEO, CFO and Chief Revenue Officer, respectively, delivered as 40% restricted stock, 40% performance stock units and 20% stock options.
Rinehults Joshua Paul reported acquisition or exercise transactions in this Form 4 filing.
LEE ENTERPRISES, Inc reported that V.P., CFO and Treasurer Joshua Paul Rinehults received equity-based compensation. He was granted 55,419 performance rights, each representing a contingent right to one share of common stock, expiring on 2029-09-30, and 55,419 shares of common stock. Following these awards, his directly held common stock position is 57,597 shares. The grants were previously approved by the executive compensation committee, conditioned on shareholder approval of an amendment to the 2020 Long-Term Incentive Plan and effectiveness of a related Form S-8, both of which have occurred.
LEE ENTERPRISES President & CEO Nathan E. Bekke reported equity awards primarily related to the company’s 2020 Long-Term Incentive Plan. On August 6, 2026, he received 107,759 performance rights and a corresponding 107,759-share grant of common stock, bringing his direct common stock holdings to 143,696 shares. These awards were originally approved on December 16, 2024, subject to shareholder approval of the First Amendment to the 2020 Long-Term Incentive Plan and registration of additional shares on Form S-8, which occurred on February 27, 2025 and March 11, 2025, respectively.
Earlier, on March 11, 2025, he was granted an employee stock option for 5,946 shares at an exercise price of $16.36 per share, vesting in three equal annual installments beginning December 16, 2025 and expiring on December 15, 2034. He also received 7,273 performance rights expiring on September 26, 2027. Each performance right represents a contingent right to receive one share of common stock that vests on the expiration date if specified stock performance criteria are satisfied.
Lee Enterprises reported weaker sales but stronger profitability for the quarter ended June 28, 2026. Operating revenue was $125.97 million, down 10.8% year over year as both print and digital advertising and subscriptions declined. Digital revenue totaled $71.6 million, or 56.8% of total revenue, reflecting an ongoing shift from print, while digital-only subscribers fell 12.8% to 584,000 and print subscribers fell 19.3% to 221,000.
Cost reductions, insurance recoveries from the 2025 cyber incident, and lower interest expense drove improved earnings. Operating income rose to $8.63 million and net income to $5.17 million (EPS $0.21), versus a loss a year earlier; Adjusted EBITDA reached $18.38 million. For the nine months, revenue fell 10.7% to $378.0 million, but net loss narrowed sharply to $1.66 million. A $50.0 million private placement and a cut in the term loan margin from 9.00% to 5.00% boosted liquidity, lifting cash to $59.43 million with term loan debt of $454.7 million and net debt of about $395.3 million. Majority shareholder David H. Hoffmann now controls 54.5% of the voting power, making the company a “controlled company” under Nasdaq rules.
Lee Enterprises reported preliminary third-quarter fiscal 2026 results showing a return to profitability and stronger cash generation. Total operating revenue was $126 million, with total digital revenue of $72 million representing 57% of revenue. Net income was $5 million, an improvement of $7 million over the prior-year quarter, and Adjusted EBITDA rose 23% to $18 million, aided by disciplined cost control and lower restructuring charges.
Operating expenses were $118 million and Cash Costs fell 14% year over year to $109 million. Interest expense declined 45%, or $5 million, following a February 2026 private placement that reduced the term loan rate to 5% for five years on $455 million of debt. The company ended the quarter with $59 million in cash and 584,000 digital-only subscribers. Management increased its fiscal 2026 Adjusted EBITDA outlook to year-over-year growth of 22–28%, noting underlying growth near 10% excluding $6.4 million of business interruption insurance reimbursements related to a 2025 cyber event.
Lee Enterprises, Incorporated reports that director Herbert W. Moloney III has retired from its Board of Directors, effective July 28, 2026. He informed the Board of his decision on that date, and the company states that his retirement does not involve any disagreements regarding its operations, policies, or practices.
The report is authorized on behalf of the company by Joshua P. Rinehults, who serves as Vice President, Chief Financial Officer and Treasurer, acting as the principal financial and accounting officer.
Herbert W. Moloney III, associated with Lee Enterprises, Inc., has filed to sell up to 20,887 shares of Lee Enterprises common stock through Vanguard Marketing Corporation on or after July 29, 2026, with an indicated aggregate market value of $159,944.42.
The filing also notes a prior sale of 24,000 shares of common stock on June 11, 2026 for $235,595.05.
Lee Enterprises, Incorporated entered into a First Amendment to its Stock Purchase Agreement with several existing investors originally party to an agreement dated December 30, 2025. The amendment revises standstill provisions that govern how many shares investors may buy during the standstill period.
Investors that beneficially own more than 10% of outstanding common stock may continue to purchase up to 600,000 shares in open-market transactions during the standstill. These investors may also exceed 600,000 shares if additional purchases occur under a qualified Rule 10b5-1 trading plan approved by the company. Other terms of the Stock Purchase Agreement remain unchanged.