Were Hoffmann’s recent Lee Enterprises share purchases open-market transactions?

Yes. The Form 4 classifies each transaction as an open-market purchase of common stock. A footnote explains that at least one trade was executed in multiple lots, and the reported price represents a weighted average of those individual executions.

Lee Enterprises (LEE) director buys 74,600 shares in open market

Filing Impact

(Very High)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

Lee Enterprises director and major shareholder David Henry Hoffmann reported a series of open-market purchases of the company’s common stock. He bought a total of 74,600 shares over three days, acquiring 19,000 shares on March 6, 2026 at $9.19 per share, 27,800 shares on March 9 at $9.30, and 27,800 shares on March 10 at a weighted average price of $8.99. After these trades, he directly owns 11,183,049 shares. A separate holding entry shows an additional 618,900 shares held indirectly by a trust as of March 6.

Insider Trade Summary

Net Buyer: 74,600 shares ($683,072)

Net Buy 4 txns

Insider Hoffmann David Henry

Role Director, 10% Owner

Bought 74,600 shs ($683K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	27,800	$8.99	$250K
Purchase	Common Stock	27,800	$9.30	$259K
Purchase	Common Stock	19,000	$9.19	$175K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 11,183,049 shares (Direct); Common Stock — 618,900 shares (Indirect, By Trust)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

03/10/2026 - 04:21 PM

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).

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^*

Hoffmann David Henry

(Last)

(First)

(Middle)

C/O LEE ENTERPRISES, INCORPORATED

4600 E. 53RD STREET

(Street)

DAVENPORT

52807

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
LEE ENTERPRISES, Inc [ LEE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
03/06/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	03/06/2026		P		19,000	A	$9.19	11,127,449⁽¹⁾	D
Common Stock	03/09/2026		P		27,800	A	$9.3	11,136,249⁽¹⁾	D
Common Stock	03/10/2026		P		27,800	A	$8.99	11,183,049⁽¹⁾	D
Common Stock								618,900	I	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. This transaction was executed in multiple trades and the price reported reflects the weighted average purchase price. The reporting person hereby undertakes to provide, upon request, to the SEC staff, the issuer, or security holder of the issuer, full information regarding the number of shares and prices at which the transaction as effected.

	/s/ Timothy B. Gulbranson, Limited POA, Attorney-in-Fact	03/10/2026
	/s/ Patricia Garinger-Strickland, Limited POA, Attorney-in-Fact for The Jerrilyn M. Hoffmann Revocable Trust dated May 30, 2001	03/10/2026
	** 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.

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did David Henry Hoffmann report for LEE?

David Henry Hoffmann reported buying 74,600 shares of Lee Enterprises common stock in open-market transactions. The purchases occurred on March 6, 9, and 10, 2026, and reflect additional personal investment by a director and major shareholder in the company.

On what dates did Hoffmann buy Lee Enterprises (LEE) shares and at what prices?

Hoffmann bought Lee Enterprises shares on March 6, 9, and 10, 2026. He purchased at prices of $9.19, $9.30, and a weighted average of $8.99 per share, according to the Form 4 insider trading disclosure filed with regulators.

How many Lee Enterprises (LEE) shares does Hoffmann own after these trades?

After these trades, Hoffmann directly owns 11,183,049 shares of Lee Enterprises common stock. The filing also lists an indirect holding of 618,900 shares held by a trust, giving a clearer picture of his overall reported ownership position in the company.

What does the Form 4 say about Hoffmann’s indirect Lee Enterprises holdings?

The Form 4 includes a holding entry for 618,900 Lee Enterprises shares held indirectly "By Trust." This entry reflects shares attributed to Hoffmann through a trust structure, in addition to his much larger directly held position in the company’s common stock.