Insider at Lee Enterprises (NASDAQ: LEE) adds 83,400 shares

Rhea-AI Filing Summary

LEE ENTERPRISES, Inc director and 10% owner David Henry Hoffmann reported open-market purchases of a total of 83,400 shares of Common Stock over three days. He bought 27,800 shares at $9.33 on March 11, 2026, 27,800 shares at $9.40 on March 12, 2026, and 27,800 shares at a weighted average price of $9.35 on March 13, 2026. Following these transactions, he directly holds 11,266,449 shares and indirectly holds 618,900 shares through a trust.

Insider Trade Summary

Net Buyer: 83,400 shares ($780,624)

Net Buy 4 txns

Insider Hoffmann David Henry

Role Director, 10% Owner

Bought 83,400 shs ($781K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	27,800	$9.35	$260K
Purchase	Common Stock	27,800	$9.40	$261K
Purchase	Common Stock	27,800	$9.33	$259K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 11,266,449 shares (Direct); Common Stock — 618,900 shares (Indirect, By Trust)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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 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)
03/11/2026

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	03/11/2026		P		27,800	A	$9.33	11,210,849(1)	D
Common Stock	03/12/2026		P		27,800	A	$9.4	11,238,649(1)	D
Common Stock	03/13/2026		P		27,800	A	$9.35	11,266,449(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	03/13/2026
	/s/ Patricia Garinger-Strickland, Limited POA, Attorney-in-Fact for The Jerrilyn M. Hoffmann Revocable Trust dated May 30, 2001	03/13/2026
	** 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 Hoffmann report for LEE?

David Henry Hoffmann reported open-market purchases of LEE common stock totaling 83,400 shares over three days. These were three separate 27,800-share transactions executed on March 11, 12, and 13, 2026 at prices around $9.33–$9.40 per share.

On what dates did the LEE insider share purchases occur and at what prices?

The purchases occurred on March 11, 12, and 13, 2026. Hoffmann bought 27,800 shares at $9.33, 27,800 shares at $9.40, and 27,800 shares at a weighted average price of $9.35, according to the reported Form 4 data.

How many LEE shares does David Hoffmann own after these transactions?

After these transactions, Hoffmann directly owns 11,266,449 shares of LEE common stock. The filing also lists an additional 618,900 shares held indirectly "By Trust," reflecting a separate trust-held position associated with him.

What type of transactions were reported in the LEE Form 4 filing?

The Form 4 reports open-market purchases of LEE common stock, coded as "P" transactions. All three trades are classified as non-derivative, open-market purchases, rather than option exercises, gifts, or tax-related dispositions, indicating direct buying activity in the shares.

What does the weighted average price disclosure mean in the LEE insider filing?

The footnote states one transaction was executed in multiple trades, so the reported $9.35 figure is a weighted average purchase price. Hoffmann has undertaken to provide full trade details, including share counts and individual prices, to regulators, the issuer, or security holders upon request.

Is David Hoffmann considered a major shareholder of LEE?

Yes. The Form 4 identifies David Henry Hoffmann as both a director and a 10% owner of LEE. That status means his transactions in the company’s common stock are subject to insider reporting requirements and must be disclosed promptly to the SEC.