Lee Enterprises (LEE) insider buys 36,400 common shares

Rhea-AI Filing Summary

Lee Enterprises director and 10% owner David Henry Hoffmann reported open-market purchases of company common stock. He bought 10,600 shares on February 19, 2026 at $7.81, 10,600 shares on February 20, 2026 at $9.11, and 15,200 shares on February 23, 2026 at $8.91, totaling 36,400 shares. After the latest purchase, his direct holdings rose to 10,973,139 shares, and an additional 618,900 shares were held indirectly by a trust as of February 19, 2026. One trade price is disclosed as a weighted average, with full trade details available on request.

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

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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 IA 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)
02/19/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/19/2026		P		10,600	A	$7.81	10,947,339(1)	D
Common Stock	02/20/2026		P		10,600	A	$9.11	10,957,939(1)	D
Common Stock	02/23/2026		P		15,200	A	$8.91	10,973,139(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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

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	02/23/2026
	/s/ Patricia Garinger-Strickland, Limited POA, Attorney-in-Fact for The Jerrilyn M. Hoffmann Revocable Trust dated May 30, 2001	02/23/2026
	** 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.

FAQ

What insider transactions did David Henry Hoffmann report for LEE?

David Henry Hoffmann reported three open-market purchases of Lee Enterprises common stock, totaling 36,400 shares on February 19, 20, and 23, 2026 at prices between $7.81 and $9.11 per share.

How many LEE shares did the insider buy in the latest transaction?

In the latest transaction on February 23, 2026, Hoffmann bought 15,200 shares of Lee Enterprises common stock at a price of $8.91 per share, reported as an open-market purchase under transaction code P.

What is David Henry Hoffmann’s total direct ownership in LEE after these trades?

After the reported purchases, Hoffmann’s direct holdings in Lee Enterprises increased to 10,973,139 common shares. This total reflects his ownership following the February 23, 2026 open-market purchase transaction.

Were any LEE shares reported as held indirectly by a trust?

Yes. The Form 4 shows 618,900 shares of Lee Enterprises common stock held indirectly “By Trust” as of February 19, 2026, separate from Hoffmann’s directly owned shares.

How many LEE shares did Hoffmann buy across all reported February 2026 transactions?

Across the February 19, 20, and 23, 2026 transactions, Hoffmann purchased a total of 36,400 shares of Lee Enterprises common stock in the open market, according to the Form 4 transaction summary.

What does the weighted average price disclosure mean in Hoffmann’s LEE purchase?

One transaction used a weighted average price, meaning it was executed in multiple trades at different prices. The reported price is the average, and full trade details are available to the SEC, issuer, or shareholders upon request.