Lee Enterprises director granted 5,000 shares

LEE ENTERPRISES, Inc (LEE) director Ronald J. Kruszewski reported an indirect acquisition of 5,000 shares of common stock on August 31, 2026, as a grant or award to the Kruszewski Revocable Trust at a reported value of $8.00 per share.

Rhea-AI Filing Summary

LEE ENTERPRISES, Inc (LEE) director Ronald J. Kruszewski reported an indirect acquisition of 5,000 shares of common stock on August 31, 2026, as a grant or award to the Kruszewski Revocable Trust at a reported value of $8.00 per share.

Following this award, the Kruszewski Revocable Trust holds 11,112 shares, and a separate indirect holding, the Stifel Corporation Trust, is reported with 615,385 shares. No Rule 10b5-1 trading plan is reported for these holdings.

Insider Trade Summary

Grant/Award: 5,000 shares

Grant/Award 2 txns

Insider KRUSZEWSKI RONALD J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	5,000	$8.00	$40K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 11,112 shares (Indirect, By Kruszewski Revocable Trust); Common Stock — 615,385 shares (Indirect, By Stifel Corporation Trust)

Key Figures

Shares acquired: 5,000 shares Reported award value per share: $8.00 per share Shares held by Kruszewski Revocable Trust: 11,112 shares +1 more

4 metrics

Shares acquired 5,000 shares Grant or award of LEE common stock on August 31, 2026

Reported award value per share $8.00 per share Value used for 5,000-share grant to Kruszewski Revocable Trust

Shares held by Kruszewski Revocable Trust 11,112 shares Indirect LEE holdings following the August 31, 2026 award

Shares held by Stifel Corporation Trust 615,385 shares Indirect LEE holdings reported as of the same Form 4

Key Terms

Grant, award, or other acquisition, indirect, Revocable Trust, Rule 10b5-1 trading plan

4 terms

Grant, award, or other acquisition financial

"The 5,000-share transaction is described as a grant, award, or other acquisition"

indirect financial

"Both reported positions are listed as indirect ownership through trusts"

Revocable Trust financial

"The new award is held by the Kruszewski Revocable Trust"

A revocable trust is a legal arrangement where the person who creates it keeps control and can change or cancel the trust at any time, while naming who will manage and receive the assets later. Think of it like a flexible folder for your investments and property that can be relabeled or reworked as circumstances change; it matters to investors because it determines how ownership is recorded, how easily assets transfer on incapacity or death, and whether holdings bypass public probate proceedings.

Rule 10b5-1 trading plan regulatory

"No Rule 10b5-1 trading plan is reported for these holdings"

A Rule 10b5-1 trading plan is a pre-arranged schedule that allows company insiders to buy or sell stock at specific times, even if they have inside information. It helps prevent accusations of unfair trading by making these transactions look planned and transparent, rather than sneaky or illegal.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did LEE director Ronald J. Kruszewski report?

Ronald J. Kruszewski reported an indirect acquisition of 5,000 LEE common shares on August 31, 2026, as a grant or award to the Kruszewski Revocable Trust at a reported value of $8.00 per share.

How many LEE shares does the Kruszewski Revocable Trust hold after this Form 4?

After the reported transaction, the Kruszewski Revocable Trust holds 11,112 shares of LEE common stock as an indirect holding attributed to director Ronald J. Kruszewski.

What are the total LEE shares held by the Stifel Corporation Trust?

The filing reports that the Stifel Corporation Trust holds 615,385 shares of LEE common stock as an indirect holding associated with Ronald J. Kruszewski.

Was Ronald J. Kruszewski’s LEE stock award made under a Rule 10b5-1 plan?

No. The filing’s Rule 10b5-1 checkbox is not marked, indicating that no Rule 10b5-1 trading plan is reported for the transactions and holdings disclosed.

Is the reported LEE transaction a market purchase or a grant?

The Form 4 characterizes the 5,000-share transaction as a grant, award, or other acquisition to the Kruszewski Revocable Trust, rather than as an open-market purchase, at a reported value of $8.00 per share.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 09/02/2026 - 04:03 PM EDT Accepted by SEC EDGAR 09/02/2026 - 04:02 PM EDT Learn about SEC filing dates

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^*

KRUSZEWSKI RONALD J

(Last) (First) (Middle)

C/O LEE ENTERPRISES, INCORPORATED

4600 E. 53RD STREET

(Street)

DAVENPORT IOWA 52807

(City) (State) (Zip)

UNITED STATES

(Country)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
08/31/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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	08/31/2026		A		5,000	A	$8	11,112	I	By Kruszewski Revocable Trust
Common Stock								615,385	I	By Stifel Corporation 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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

	/s/Timothy B. Gulbranson, Limited POA, Attorney-in-Fact	09/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)