Lee Enterprises CEO logs tax withholding, equity awards

Lee Enterprises President & CEO Kevin Mowbray reported routine equity-related transactions.

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Rhea-AI Filing Summary

Lee Enterprises President & CEO Kevin Mowbray reported routine equity-related transactions. On February 5, 2026, 7,867 shares of common stock were withheld and deemed disposed back to Lee at $5.46 per share to cover taxes on vesting of previously granted restricted stock, leaving 118,970 common shares held directly.

On March 11, 2025, he received an option for 13,380 shares at an exercise price of $16.36, vesting in three equal annual installments beginning December 16, 2025 and expiring December 15, 2034. He also received 16,374 performance rights, each representing one share of common stock that can vest on September 26, 2027 if specified stock performance conditions are met.

Insider Trade Summary

3 transactions reported

Mixed 3 txns

Insider MOWBRAY KEVIN

Role President & CEO

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	7,867	$5.46	$43K
Grant/Award	Employee Stock Option (Right to Buy)	13,380	$0.00	$0.00
Grant/Award	Performance Rights	16,374	$0.00	$0.00

Holdings After Transaction: Employee Stock Option (Right to Buy) — 13,380 contracts (Direct); Performance Rights — 16,374 contracts (Direct); Common Stock — 118,970 shares (Direct)

Footnotes (4)

F1. Exercise of tax withholding right in connection with vesting of previously granted (and reported) restricted stock resulting in a deemed disposition of the withheld shares back to LEE.
F2. The grant of restricted stock awards, stock options, and performance shares were approved by the executive compensation committee of LEE's board of directors on December 16, 2024, subject to shareholder approval of the First Amendment to the 2020 Long-Term Incentive Plan ("Amendment") under which the awards were granted and the subsequent filing of LEE's Registration Statement on Form S-8 registering the additional shares authorized under the Amendment. LEE's shareholders approved the Amendment on February 27, 2025, and the Form S-8 was filed with the Securities and Exchange Commission on March 11, 2025.
F3. The option vests in three equal annual installments beginning on December 16, 2025.
F4. Each performance right represents a contingent right to receive one share of LEE common stock. The performance rights vest on the expiration date and upon the satisfaction of certain performance criteria of LEE's common stock.

FAQ

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What insider transactions did Kevin Mowbray report at Lee Enterprises (LEE)?

Kevin Mowbray reported tax-related share withholding and new equity awards. 7,867 shares were withheld to cover taxes on restricted stock vesting, and he received 13,380 stock options plus 16,374 performance rights tied to Lee Enterprises common stock.

How many Lee Enterprises (LEE) shares does Kevin Mowbray own after the reported Form 4?

After the reported transactions, Kevin Mowbray beneficially owns 118,970 shares of Lee Enterprises common stock directly. This figure reflects his holdings following the 7,867-share tax withholding disposition tied to the vesting of previously granted restricted stock awards.

What is transaction code F in Kevin Mowbray’s Lee Enterprises (LEE) Form 4?

Transaction code F reflects shares withheld to pay taxes on equity vesting. For Lee Enterprises, 7,867 common shares were deemed disposed back to the company at $5.46 per share due to tax withholding on previously granted restricted stock that vested.

What stock options did Kevin Mowbray receive from Lee Enterprises (LEE)?

Kevin Mowbray received an employee stock option for 13,380 Lee Enterprises shares at a $16.36 exercise price. The option vests in three equal annual installments starting December 16, 2025, and expires December 15, 2034, if not exercised before that date.

What are the performance rights granted to Kevin Mowbray by Lee Enterprises (LEE)?

Kevin Mowbray received 16,374 performance rights, each tied to one share of Lee Enterprises common stock. These rights vest on September 26, 2027, if specified performance criteria for Lee’s common stock are satisfied, making the award contingent on future company performance.

When were Kevin Mowbray’s Lee Enterprises (LEE) equity awards approved and registered?

The board’s executive compensation committee approved the restricted stock, stock options, and performance shares on December 16, 2024. Shareholders approved the related plan amendment on February 27, 2025, and Lee Enterprises filed a Form S-8 to register the additional shares on March 11, 2025.

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

Form 4 Insider Transactions: What Each Field Means →

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Accepted by SEC EDGAR 02/09/2026 - 03:53 PM

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^*

MOWBRAY KEVIN

(Last)

(First)

(Middle)

C/O LEE ENTERPRISES, INCORPORATED

4600 E. 53RD STREET

(Street)

DAVENPORT

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
X	Officer (give title below)	Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/05/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/05/2026		F⁽¹⁾		7,867	D	$5.46	118,970	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Employee Stock Option (Right to Buy)	$16.36	03/11/2025⁽²⁾		A		13,380		⁽³⁾	12/15/2034	Common Stock	13,380	$0	13,380	D
Performance Rights	⁽⁴⁾	03/11/2025⁽²⁾		A		16,374		⁽⁴⁾	09/26/2027	Common Stock	16,374	$0	16,374	D

Explanation of Responses:

1. Exercise of tax withholding right in connection with vesting of previously granted (and reported) restricted stock resulting in a deemed disposition of the withheld shares back to LEE.

2. The grant of restricted stock awards, stock options, and performance shares were approved by the executive compensation committee of LEE's board of directors on December 16, 2024, subject to shareholder approval of the First Amendment to the 2020 Long-Term Incentive Plan ("Amendment") under which the awards were granted and the subsequent filing of LEE's Registration Statement on Form S-8 registering the additional shares authorized under the Amendment. LEE's shareholders approved the Amendment on February 27, 2025, and the Form S-8 was filed with the Securities and Exchange Commission on March 11, 2025.

3. The option vests in three equal annual installments beginning on December 16, 2025.

4. Each performance right represents a contingent right to receive one share of LEE common stock. The performance rights vest on the expiration date and upon the satisfaction of certain performance criteria of LEE's common stock.

	/s/Timothy B. Gulbranson, Limited POA, Attorney-in-Fact	02/09/2026
	** 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.

Source: View Original Filing on SEC EDGAR