Director at Lee Enterprises (LEE) sells 24,000 shares in open market

Q: What insider transaction did LEE director Herbert W. Moloney III report?

Herbert W. Moloney III reported selling 24,000 LEE shares. The Form 4 shows an open-market sale of Lee Enterprises Common Stock, consolidating multiple trades into a single weighted average price disclosure.

Q: Was the LEE director’s transaction an open-market sale or another type?

The transaction was an open-market sale of Common Stock. The Form 4 classifies the code as “S,” described as a sale in the open market or a private transaction, and labels it an open-market sale of non-derivative securities.

Filing Impact

(Moderate)

Filing Sentiment

(Negative)

Form Type

Rhea-AI Filing Summary

Lee Enterprises director Herbert W. Moloney III reported an open-market sale of 24,000 shares of Common Stock on June 11, 2026 at a weighted average price of $9.82 per share. After this transaction, he directly owns 23,037 shares. The sale was executed in multiple trades, with the reported price reflecting the weighted average price across those trades.

Insider Trade Summary

Net Seller: 24,000 shares ($235,680)

Net Sell 1 txn

Insider MOLONEY HERBERT W III

Role null

Sold 24,000 shs ($236K)

Type	Security	Shares	Price	Value
Sale	Common Stock	24,000	$9.82	$236K

Holdings After Transaction: Common Stock — 23,037 shares (Direct, null)

Footnotes (1)

[object Object]

Key Figures

Shares sold: 24,000 shares Sale price: $9.82 per share Shares held after sale: 23,037 shares

3 metrics

Shares sold 24,000 shares Open-market sale of Common Stock on June 11, 2026

Sale price $9.82 per share Weighted average price across multiple trades

Shares held after sale 23,037 shares Director’s direct ownership following the transaction

Key Terms

open-market sale, weighted average purchase price, Common Stock

3 terms

open-market sale financial

"the Form 4 labels the transaction action as an open-market sale of Common Stock"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

weighted average purchase price financial

"the footnote states the price reported reflects the weighted average purchase price across multiple trades"

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.

Common Stock financial

"the security title for the transaction is Common Stock of Lee Enterprises"

Common stock represents ownership shares in a company, giving investors a stake in its success and a say in important decisions through voting rights. It is the most common type of stock traded on markets and can provide income through dividends, as well as potential for value growth. For investors, holding common stock means sharing in the company’s profits and risks.

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Form 4 Insider Transactions: What Each Field Means →

06/12/2026 - 12:09 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^*

MOLONEY HERBERT W III

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/11/2026

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)
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	06/11/2026		S		24,000	D	$9.82⁽¹⁾	23,037	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)

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	06/12/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What insider transaction did LEE director Herbert W. Moloney III report?

Herbert W. Moloney III reported selling 24,000 LEE shares. The Form 4 shows an open-market sale of Lee Enterprises Common Stock, consolidating multiple trades into a single weighted average price disclosure.

At what price were the 24,000 LEE shares sold by the director?

The 24,000 LEE shares were sold at a weighted average price of $9.82. The filing notes the transaction occurred in multiple trades, with $9.82 per share representing the weighted average across all executed trades.

How many LEE shares does Herbert W. Moloney III hold after this sale?

After the sale, the director directly holds 23,037 LEE shares. The Form 4 discloses total shares following the transaction, giving investors a clear view of his remaining direct ownership position in Lee Enterprises.

Was the LEE director’s transaction an open-market sale or another type?

The transaction was an open-market sale of Common Stock. The Form 4 classifies the code as “S,” described as a sale in the open market or a private transaction, and labels it an open-market sale of non-derivative securities.

What does the weighted average price disclosure mean for the LEE stock sale?

The weighted average price reflects multiple trade executions in the sale. The footnote explains that $9.82 per share is a weighted average, and detailed trade prices and share amounts are available upon request to regulators, the issuer, or its shareholders.