Director at LEE ENTERPRISES (NASDAQ: LEE) sells 26,804 shares in open market

Rhea-AI Filing Summary

LEE ENTERPRISES director Brent Magid sold common stock in an open-market transaction. On March 6, 2026, he sold 26,804 shares of Lee Enterprises common stock at a weighted average price of $9.08 per share. After this sale, he directly holds 8,760 shares of the company’s common stock. The trade was executed in multiple transactions, with the weighted average price provided, and detailed trade-level information is available upon request to the company, the SEC staff, or any security holder.

Insights

Equity governance analyst

Director executes sizable open-market sale, retains smaller remaining stake.

The filing shows director Brent Magid completing an open-market sale of 26,804 shares of LEE ENTERPRISES common stock at a weighted average price of $9.08 per share. This is reported as a non-derivative transaction, indicating a straightforward stock sale rather than an option exercise.

Following the sale, Magid directly holds 8,760 shares, so the transaction represents a significant reduction in this reported direct position. The footnote explains the price is an average across multiple trades, and that detailed trade prices and sizes are available upon request, which is standard for larger orders executed in several pieces.

The filing does not reference any Rule 10b5-1 trading plan or derivative positions, and the derivative section is empty. Subsequent company filings may clarify whether there are any related changes in board holdings or additional transactions by this director.

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
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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^*

MAGID BRENT

(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		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)
			Code	V	Amount	(A) or (D)	Price
Common Stock	03/06/2026		S		26,804	D	$9.08	8,760(1)	D

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	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.

FAQ

What insider transaction did LEE (LEE ENTERPRISES) report for Brent Magid?

LEE ENTERPRISES reported that director Brent Magid executed an open-market sale of 26,804 common shares. The transaction was recorded as a non-derivative stock sale, rather than an option exercise or grant, at a weighted average price of $9.08 per share.

At what price did Brent Magid sell his LEE common stock shares?

The Form 4 shows a weighted average sale price of $9.08 per share for Brent Magid’s transaction. A footnote explains the sale occurred in multiple trades and offers to provide detailed price and size information for each individual trade upon request.

How many LEE shares does Brent Magid hold after the reported sale?

After selling 26,804 shares, Brent Magid directly holds 8,760 shares of LEE ENTERPRISES common stock. This remaining balance reflects his direct ownership position following the reported open-market sale and is disclosed in the post-transaction holdings column of the Form 4.

Was the LEE insider transaction by Brent Magid an open-market sale or option exercise?

The transaction is identified as an open-market sale of common stock, coded “S” and classified as non-derivative. There are no derivative transactions or option exercises reported in this filing, and the derivative section of the Form 4 is shown as empty.

Does the LEE Form 4 for Brent Magid mention multiple trade executions?

Yes. A footnote states the transaction was executed in multiple trades and the reported price is the weighted average. It further notes that full details on the number of shares and specific trade prices will be provided to the SEC staff, the issuer, or any security holder upon request.