Lee Enterprises director buys 38,000 company shares

LEE ENTERPRISES, Inc director and ten percent owner David Henry Hoffmann reported additional open-market purchases of the company’s common stock.

Rhea-AI Filing Summary

LEE ENTERPRISES, Inc director and ten percent owner David Henry Hoffmann reported additional open-market purchases of the company’s common stock. Across three trades on May 22, 26 and 27, 2026, he bought a total of 38,000 shares at prices ranging from $9.56 to $10.05 per share. Following these transactions, Hoffmann directly owns 11,378,549 shares of common stock and also has 618,900 shares held indirectly by a trust. One trade was executed in multiple lots, with the reported price reflecting a weighted-average purchase price.

Insider Trade Summary

Net Buyer: 38,000 shares

Net Buy 4 txns

Insider Hoffmann David Henry

Role Director, 10% Owner

Bought 38,000 shs ($376K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	13,700	$10.05	$138K
Purchase	Common Stock	13,700	$9.99	$137K
Purchase	Common Stock	10,600	$9.56	$101K
holding	Common Stock	--	--	--

Holdings After Transaction: Common Stock — 11,378,549 shares (Direct); Common Stock — 618,900 shares (Indirect, By Trust)

Footnotes (1)

1. F1. 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.

Key Figures

Total shares bought: 38,000 shares Purchase lot 1: 10,600 shares at $9.56/share Purchase lot 2: 13,700 shares at $9.99/share +3 more

6 metrics

Total shares bought 38,000 shares Net open-market purchases reported on Form 4

Purchase lot 1 10,600 shares at $9.56/share Open-market purchase on May 22, 2026

Purchase lot 2 13,700 shares at $9.99/share Open-market purchase on May 26, 2026

Purchase lot 3 13,700 shares at $10.05/share Open-market purchase on May 27, 2026

Direct holdings after trades 11,378,549 shares Direct ownership following May 27, 2026 transaction

Indirect holdings by trust 618,900 shares Indirect ownership entry dated May 22, 2026

Key Terms

open-market purchase, ten percent owner, indirect ownership, weighted average purchase price, +1 more

5 terms

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

ten percent owner financial

""is_ten_percent_owner": 1"

indirect ownership financial

""ownership_type": "indirect""

weighted average purchase price financial

"the price reported reflects the weighted average purchase price"

The weighted average purchase price is the average cost per share you paid across multiple buys, calculated so larger purchases count more than smaller ones. Imagine buying apples at different prices: the overall price you effectively paid depends on how many apples you bought at each price. Investors use it to measure true cost basis, calculate gains or losses, decide when to sell, and manage taxes and portfolio performance.

Form 4 regulatory

"INSIDER FILING DATA (Form 4):"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

FAQ

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

What insider transactions did LEE director David Hoffmann report?

David Hoffmann reported three open-market purchases of Lee Enterprises common stock totaling 38,000 shares. The trades occurred on May 22, 26, and 27, 2026, at prices between $9.56 and $10.05 per share, increasing his already large ownership stake.

How many LEE shares did David Hoffmann buy in this Form 4?

He bought a total of 38,000 Lee Enterprises common shares. The purchases were split into 10,600 shares at $9.56, 13,700 shares at $9.99, and another 13,700 shares at $10.05, all reported as open-market transactions.

What is David Hoffmann’s total direct LEE shareholding after these trades?

After the reported purchases, David Hoffmann directly owns 11,378,549 Lee Enterprises common shares. This figure reflects his position immediately following the May 27, 2026 transaction and highlights his status as a significant shareholder and ten percent owner.

Does David Hoffmann have any indirect ownership of LEE shares?

Yes. In addition to his direct holdings, a separate entry shows 618,900 Lee Enterprises shares held indirectly "By Trust." This indicates additional beneficial exposure through a trust structure alongside his substantial direct ownership of common stock.

At what prices were the recent LEE insider share purchases made?

The reported open-market purchases were executed at weighted-average prices of $9.56, $9.99, and $10.05 per share. One transaction involved multiple trades, with the filing stating that the disclosed figure represents the weighted-average purchase price for those combined lots.

What does the Form 4 say about the size of Hoffmann’s recent LEE purchases?

The Form 4 shows net buying of 38,000 shares, with no reported sales. While notable, this increase is small compared with Hoffmann’s post-transaction direct position of 11,378,549 shares, indicating these were incremental additions to an already large stake.

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

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Accepted by SEC EDGAR 05/27/2026 - 04:39 PM 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^*

Hoffmann David Henry

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/22/2026

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	05/22/2026		P		10,600	A	$9.56	11,351,149(1)	D
Common Stock	05/26/2026		P		13,700	A	$9.99	11,364,849(1)	D
Common Stock	05/27/2026		P		13,700	A	$10.05	11,378,549(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	05/27/2026
	/s/ Patricia Garinger-Strickland, Limited POA, Attorney-in-Fact for The Jerrilyn M. Hoffmann Revocable Trust dated May 30, 2001	05/27/2026
	** 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)