Director at Lee Enterprises (LEE) buys shares over three days

Rhea-AI Filing Summary

Lee Enterprises director and 10% owner David Henry Hoffmann reported a series of open-market purchases of the company’s common stock. He bought 19,000 shares on March 3, 2026 at $9.16 per share, 19,000 shares on March 2, 2026 at $8.85 per share, and 15,200 shares on February 27, 2026 at $9.11 per share. After these transactions, his directly held stake shown in the filing was 11,070,449 shares, and a separate indirect holding by trust was listed at 618,900 shares as of February 27, 2026.

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^*

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)
02/27/2026

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	02/27/2026		P		15,200	A	$9.11	11,032,449(1)	D
Common Stock	03/02/2026		P		19,000	A	$8.85	11,051,449(1)	D
Common Stock	03/03/2026		P		19,000	A	$9.16	11,070,449(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	03/03/2026
	/s/ Patricia Garinger-Strickland, Limited POA, Attorney-in-Fact for The Jerrilyn M. Hoffmann Revocable Trust dated May 30, 2001	03/03/2026
	** 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 activity did David Henry Hoffmann report at LEE?

David Henry Hoffmann reported open-market purchases of Lee Enterprises common stock. He bought 19,000 shares on March 3, 19,000 shares on March 2, and 15,200 shares on February 27, 2026, at prices between $8.85 and $9.16 per share.

How many Lee Enterprises (LEE) shares did Hoffmann buy on each date?

On February 27, 2026, Hoffmann purchased 15,200 Lee Enterprises shares at $9.11. He then bought 19,000 shares at $8.85 on March 2, 2026, and another 19,000 shares at $9.16 on March 3, 2026, all as open-market purchases.

What was David Henry Hoffmann’s direct LEE shareholding after these trades?

After the reported open-market purchases, Hoffmann’s directly held Lee Enterprises common stock position was 11,070,449 shares. This figure comes from the post-transaction holdings fields tied to his March 3, 2026 transaction in the insider report.

Did the Form 4 show any indirect Lee Enterprises (LEE) holdings for Hoffmann?

Yes. The filing lists an indirect ownership line labeled “By Trust” holding 618,900 shares of Lee Enterprises common stock as of February 27, 2026. This entry is reported as indirect ownership separate from Hoffmann’s directly held shares.

What transaction code and type were used for Hoffmann’s LEE share purchases?

Each purchase of Lee Enterprises common stock was coded “P,” indicating a purchase in an open-market or private transaction. These entries are classified as non-derivative transactions involving common stock acquired directly by the reporting person.

What role does David Henry Hoffmann have at Lee Enterprises (LEE)?

Hoffmann is identified as a director and a ten percent owner of Lee Enterprises. The Form 4 flags him as both a board member and a holder of at least ten percent of the company’s equity, which triggers specific SEC reporting obligations.