Lee Enterprises (NASDAQ: LEE) confirms Nathan Bekke as CEO and Josh Rinehults as CFO
Filing Impact
Filing Sentiment
Form Type
8-K
Rhea-AI Filing Summary
Lee Enterprises, Inc. announced permanent leadership appointments following a recent strategic investment. The Board named Nathan E. Bekke as President and Chief Executive Officer and Joshua P. Rinehults as Vice President, Chief Financial Officer and Treasurer, after both had served in these roles on an interim basis.
Bekke, who joined Lee in 1988, previously served as Chief Operating Officer and has held multiple leadership roles over more than three decades. Rinehults has held finance leadership roles at Lee and predecessor organizations since 2007.
The Board’s Executive Compensation Committee set Bekke’s annual base salary at $700,000 with a target annual bonus equal to 100% of base salary, and Rinehults’ base salary at $450,000 with a target bonus equal to 50% of base salary. For each executive, half of the target bonus is payable in cash and half in restricted stock awards under the company’s equity incentive plan. Long-term equity award levels will be determined later and disclosed when finalized.
Positive
- None.
Negative
- None.
Insights
Lee converts interim CEO and CFO roles to permanent posts with defined pay packages.
Lee Enterprises’ Board unanimously confirmed Nathan Bekke as President and CEO and Joshua Rinehults as CFO after a nationwide search. Both were already serving in interim roles, which suggests continuity in day-to-day operations and strategic direction.
The compensation structure emphasizes performance-based pay. Bekke’s target bonus equals his $700,000 salary, and Rinehults’ target bonus equals 50% of his $450,000 salary, with half of each target delivered as restricted stock awards. This design more closely ties leadership rewards to shareholder outcomes.
Long-term equity grants for both executives will be set later, so the full incentive picture is incomplete from this disclosure. Future compensation decisions, once disclosed in subsequent filings, will show how strongly the Board aligns multi-year incentives with profitability, digital growth, and balance sheet priorities.
8-K Event Classification
3 items: 5.02, 7.01, 9.01
3 items
Item 5.02
Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers
Governance
Key personnel changes including departures, elections, or appointments of directors and executive officers.
Item 7.01
Regulation FD Disclosure
Disclosure
Material non-public information disclosed under Regulation Fair Disclosure, often investor presentations or guidance.
Item 9.01
Financial Statements and Exhibits
Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Key Figures
CEO base salary: $700,000 per year
CEO target bonus: 100% of base salary
CFO base salary: $450,000 per year
+4 more
7 metrics
CEO base salary
$700,000 per year
Annual base salary for President and Chief Executive Officer Nathan E. Bekke
CEO target bonus
100% of base salary
Target annual bonus opportunity for Nathan E. Bekke
CFO base salary
$450,000 per year
Annual base salary for Vice President, Chief Financial Officer and Treasurer Joshua P. Rinehults
CFO target bonus
50% of base salary
Target annual bonus opportunity for Joshua P. Rinehults
Bonus mix structure
50% cash / 50% RSAs
Structure of target annual bonus for both Bekke and Rinehults
Bekke tenure at Lee
Since 1988
Years with company before becoming President and CEO
Rinehults finance roles
Since 2007
Financial leadership roles across Lee, BH Media Group and Media General
Key Terms
restricted stock awards, equity incentive plan, target annual bonus opportunity, Regulation FD Disclosure, +2 more
6 terms
restricted stock awards financial
"50% is payable in the form of restricted stock awards (“RSAs”), subject to the terms and conditions of the Company’s applicable equity incentive plan"
Restricted stock awards are company shares given to employees or executives that cannot be sold or transferred until certain conditions — like staying with the company for a set time or meeting performance targets — are met, like a gift that is locked in a safe until rules are satisfied. Investors care because these awards tie management’s pay to company performance, can increase the number of shares outstanding when they become tradable (dilution), and may signal expected future selling pressure or commitment to long-term growth.
equity incentive plan financial
"subject to the terms and conditions of the Company’s applicable equity incentive plan and the related award agreements"
An equity incentive plan is a program that gives employees, executives or directors the right to receive company stock or options to buy stock as part of their pay. Think of it as offering slices of future company profit to motivate people to boost long‑term performance; for investors it matters because it can align employee goals with shareholder value but also increases the number of shares outstanding, which can dilute existing ownership.
target annual bonus opportunity financial
"a target annual bonus opportunity equal to 50% of his base salary"
Regulation FD Disclosure regulatory
"Item 7.01. Regulation FD Disclosure On April 24, 2026, the Company issued a press release"
Regulation FD disclosure requires public companies to share important, market-moving information with everyone at the same time instead of tipping off analysts or large investors first. Think of it as making sure all players on a field hear the same announcement simultaneously; that fairness helps investors trust that stock prices reflect the same information and reduces the risk of sudden, unfair trading advantages or regulatory penalties for selective leaks.
strategic investment financial
"have served in their interim roles since the closing of the company’s strategic investment in February 2026"
A strategic investment is a long-term commitment made by an investor to support a business or project that aligns with their broader goals or interests. It often involves investing resources, such as money or expertise, to help the recipient grow, with the expectation that both will benefit over time. For investors, it matters because it can create valuable partnerships, foster innovation, and generate sustained returns beyond immediate financial gains.
emerging growth company regulatory
"Emerging growth company o"
An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 24, 2026
_______________________________________________________________________________________
(Exact name of Registrant as specified in its charter)
_______________________________________________________________________________________
| (State of Incorporation) | (Commission File Number) | (I.R.S. Employer Identification No.) | ||||||
| (Address of Principal Executive Offices) | ||||||||
| Registrant’s telephone number, including area code | ||||||||
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading Symbol(s) | Name of each exchange on which registered | ||||||
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
| Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) | |||||
| Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) | |||||
| Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) | |||||
| Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) | |||||
Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company o
If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
Appointment of Nathan E. Bekke
On April 23, 2026, the Board of Directors (the “Board”) of Lee Enterprises, Incorporated (the “Company”) appointed Nathan E. Bekke as President and Chief Executive Officer of the Company. Mr. Bekke, age 56, had been serving as President and Interim Chief Executive Officer since February 5, 2026, and previously served as Chief Operating Officer since 2025 following his tenure as Operating Vice President and Vice President of Audience Strategy, a role he held since 2020. Mr. Bekke joined the company in 1988 and has held a broad range of leadership positions over his more than three decades of service.
Appointment of Joshua P. Rinehults
On April 23, 2026, the Board appointed Joshua P. Rinehults as Vice President, Chief Financial Officer and Treasurer of the Company. Mr. Rinehults, age 45, had been serving as Vice President, Interim Chief Financial Officer and Treasurer since February 2, 2026. He previously served as Vice President of Finance since November 2020 and as Finance Director from March 2020 to November 2020.
Prior to joining the Company, Mr. Rinehults held various financial and accounting roles with BH Media Group from 2012 to 2020, Media General from 2007 to 2012, and served as a senior auditor with Ernst & Young LLP from 2003 to 2007.
Compensation
No formal written agreements were executed with respect to the compensation arrangements described below. However, the Executive Compensation Committee of the Board of Directors (the “Committee”) approved the following compensation levels, as reflected in the minutes of the Committee meeting at which such approvals were granted.
Mr. Rinehults’ compensation consists of an annual base salary of $450,000 and a target annual bonus opportunity equal to 50% of his base salary.
Mr. Bekke’s compensation consists of an annual base salary of $700,000 and a target annual bonus opportunity equal to 100% of his base salary.
In each case, the target annual bonus opportunity is structured such that 50% is payable in cash and 50% is payable in the form of restricted stock awards (“RSAs”), subject to the terms and conditions of the Company’s applicable equity incentive plan and the related award agreements.
The Company has not yet established target levels or grant amounts for long-term equity compensation for Messrs. Bekke and Rinehults. The Company expects to determine such awards at a later date, at which time it will disclose the material terms of such compensation as required by applicable securities laws.
Item 7.01. Regulation FD Disclosure
On April 24, 2026, the Company issued a press release naming Nathan E. Bekke and Joshua P. Rinehults as the Company's President and Chief Executive Officer and Vice President, Chief Financial Officer and Treasurer, respectively. A copy of the press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated by reference herein.
The information in this Item 7.01 of Form 8-K and Exhibit 99.1 attached hereto are being furnished pursuant to Item 7.01 of Form 8-K and therefore shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, and shall not be deemed incorporated by reference into any filing under the Securities Act of 1933, as amended.
Item 9.01. Financial Statements and Exhibits.
(d) Exhibits | ||||||||
| 99.1 | Press Release | |||||||
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) | |||||||
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| LEE ENTERPRISES, INCORPORATED | |||||||||||||||||
| Date: | April 24, 2026 | By: | /s/ Joshua P. Rinehults | ||||||||||||||
Joshua P. Rinehults | |||||||||||||||||
Vice President, Chief Financial Officer and Treasurer | |||||||||||||||||
| (Principal Financial and Accounting Officer) | |||||||||||||||||
4600 E. 53rd St.
Davenport, IA 52807
lee.net
Lee Enterprises, Inc. Names Chief Executive and Chief Financial Officers
NEWS RELEASE
DAVENPORT, Iowa (April 24, 2026) – Nathan Bekke, President and Interim Chief Executive Officer, has been named President and Chief Executive Officer of Lee Enterprises, Incorporated (NASDAQ:LEE). Concurrently, Josh Rinehults, Vice President, Interim Chief Financial Officer and Treasurer, has been named Vice President, Chief Financial Officer and Treasurer. The Board of Directors unanimously approved both appointments. Bekke and Rinehults have served in their interim roles since the closing of the company’s strategic investment in February 2026.
David Hoffmann, Chairman of Lee’s Board of Directors, said “Following a comprehensive nationwide search, the Board is confident that the right leadership for Lee’s future was already in place. Nathan and Josh have demonstrated exceptional leadership, deep industry expertise, and a clear vision during their time in their interim roles. Their ability to execute, inspire our teams, and position Lee for long-term growth made this decision clear. With their leadership, we believe Lee is well-positioned to strengthen our core business and continue delivering value to our shareholders, customers, and communities.”
“I am privileged to assume the role of President and Chief Executive Officer and appreciate the Board’s trust and confidence,” said Bekke. “In recent months, we have advanced our strategic and operational priorities while strengthening our commitment to the communities we serve. I look forward to building on this progress, enhancing shareholder value, and continuing to position Lee for sustained, long-term success. We have a powerful opportunity to build a durable, growing business anchored in compelling local journalism that reflects, informs and uplifts the communities we serve, and I am confident in our ability to realize it.”
“It’s an honor to be appointed Chief Financial Officer, and I appreciate the trust the Board and Nathan have placed in me,” said Rinehults. “I look forward to working alongside Nathan and the leadership team to build on Lee’s momentum, strengthen our financial discipline, and drive sustainable growth that delivers long-term value for our shareholders.”
Bekke joined the company in 1988 and has held a broad range of leadership positions over his more than three decades of service. He was appointed Chief Operating Officer in June 2025, following his tenure as Operating Vice President and Vice President of Audience Strategy, roles he held since 2020.
Rinehults has been with Lee since its acquisition of BH Media Group in 2020 and has held various financial leadership roles across Lee, BH Media Group, and Media General since 2007.
ABOUT LEE
Lee Enterprises is a major subscription and advertising platform and a leading provider of local news and information with daily newspapers, rapidly growing digital products and nearly 350 weekly and specialty publications serving 72 markets in 25 states. Our core commitment is to provide valuable, intensely local news and information to the communities we serve. Our markets include St. Louis, MO; Buffalo, NY; Omaha, NE; Richmond, VA; Lincoln, NE; Madison, WI; Davenport, IA; and Tucson, AZ. Lee Common Stock is traded on the NASDAQ under the symbol LEE. For more information about Lee, please visit www.lee.net.
Contact:
IR@lee.net
(563) 383-2100
1
FAQ
What leadership changes did Lee (LEE) announce in this 8-K filing?
Lee Enterprises’ Board named Nathan E. Bekke as President and Chief Executive Officer and Joshua P. Rinehults as Vice President, Chief Financial Officer and Treasurer, converting both from interim to permanent roles after a comprehensive search and a recent strategic investment.
What is Nathan Bekke’s background before becoming CEO of Lee (LEE)?
Nathan Bekke joined Lee in 1988 and has held multiple leadership roles, including Operating Vice President, Vice President of Audience Strategy, and Chief Operating Officer. He became President and Interim CEO in February 2026 before being appointed President and Chief Executive Officer permanently.
How is new CEO Nathan Bekke compensated at Lee (LEE)?
Nathan Bekke receives an annual base salary of $700,000 and a target annual bonus equal to 100% of that salary. Half of the target bonus is payable in cash and half in restricted stock awards under Lee’s equity incentive plan, tying compensation to performance and equity value.
What are the key compensation terms for CFO Joshua Rinehults at Lee (LEE)?
Joshua Rinehults’ package includes a $450,000 annual base salary and a target annual bonus equal to 50% of salary. The target bonus is split evenly between cash and restricted stock awards, subject to Lee’s equity incentive plan and related award agreements approved by the Board committee.
Did Lee (LEE) disclose long-term equity awards for its new CEO and CFO?
Lee has not yet set long-term equity grant amounts for Nathan Bekke and Joshua Rinehults. The company stated it will determine these awards later and will disclose the material terms of such long-term compensation when required under applicable securities laws.
What did Lee’s press release emphasize about the new CEO and CFO appointments?
The press release highlighted the Board’s unanimous approval and praised Bekke and Rinehults for exceptional leadership, industry expertise, and clear vision in their interim roles. It stated confidence that their leadership positions Lee to strengthen its core business and pursue long-term, sustainable growth.