Insider David Hoffmann adds 45,600 Lee (LEE) common shares

Rhea-AI Filing Summary

LEE ENTERPRISES director and 10% owner David Henry Hoffmann reported open-market purchases of 45,600 shares of common stock. The Form 4 shows three separate purchase entries, including 13,700 shares at $11.74 per share on May 29, 2026, and 13,700 shares at $10.54 per share on May 28, 2026. Another purchase entry reports 18,200 shares at $11.09 per share on June 12, 2006. After these transactions, one line shows 11,405,949 shares held directly, and another line shows 618,900 shares held indirectly by a trust. A footnote explains that at least one transaction was executed in multiple trades, with the reported price reflecting a weighted average purchase price.

Insider Trade Summary

Net Buyer: 45,600 shares ($507,074)

Net Buy 4 txns

Insider Hoffmann David Henry

Role null

Bought 45,600 shs ($507K)

Type	Security	Shares	Price	Value
Purchase	Common Stock	13,700	$11.74	$161K
Purchase	Common Stock	13,700	$10.54	$144K
holding	Common Stock	--	--	--
Purchase	Common Stock	18,200	$11.09	$202K

Holdings After Transaction: Common Stock — 11,405,949 shares (Direct, null); Common Stock — 618,900 shares (Indirect, By Trust)

Footnotes (1)

1. [object Object]

Key Figures

Shares bought (total): 45,600 shares Purchase on May 29, 2026: 13,700 shares at $11.74 Purchase on May 28, 2026: 13,700 shares at $10.54 +4 more

7 metrics

Shares bought (total) 45,600 shares Aggregate common stock purchases reported on Form 4

Purchase on May 29, 2026 13,700 shares at $11.74 Open-market common stock purchase

Purchase on May 28, 2026 13,700 shares at $10.54 Open-market common stock purchase

Purchase on June 12, 2006 18,200 shares at $11.09 Open-market common stock purchase

Direct holdings after transaction 11,405,949 shares Total common shares held directly after reported trades

Indirect trust holdings 618,900 shares Common shares held indirectly by trust

Net buy shares 45,600 shares Net buy direction from transaction summary

Key Terms

open-market purchase, indirect ownership, weighted average purchase price, 10% owner

4 terms

open-market purchase financial

"transaction_action is described as "open-market purchase" for common stock"

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.

indirect ownership financial

"An entry shows 618,900 shares with ownership_type "indirect" and nature "By Trust""

weighted average purchase price financial

"Footnote states 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.

10% owner financial

"Reporting person is identified as a director and 10% owner"

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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 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)
05/28/2026

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	05/28/2026		P		13,700	A	$10.54	11,392,249(1)	D
Common Stock	05/29/2026		P		13,700	A	$11.74	11,405,949(1)	D
Common Stock	06/12/2006		P		18,200	A	$11.09	11,424,149(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	06/01/2026
	/s/ Patricia Garinger-Strickland, Limited POA, Attorney-in-Fact for The Jerrilyn M. Hoffmann Revocable Trust dated May 30, 2001	06/01/2026
	** 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)

FAQ

What insider transaction did David Hoffmann report for LEE?

David Henry Hoffmann reported open-market purchases of 45,600 Lee Enterprises common shares. The Form 4 lists three purchase entries across different dates, all classified as non-derivative common stock transactions.

At what prices did David Hoffmann buy LEE common stock?

The reported purchases include 13,700 shares at $11.74 and 13,700 shares at $10.54 per share. Another entry shows 18,200 shares at $11.09 per share, with at least one price given as a weighted average.

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

Following the reported purchases, one line shows 11,405,949 LEE shares held directly. A separate holding entry shows 618,900 shares held indirectly through a trust, reflecting both direct and indirect ownership positions.

What is the nature of David Hoffmann’s indirect ownership in LEE?

The Form 4 shows 618,900 LEE shares held indirectly with the nature of ownership described as “By Trust.” This indicates an additional position held through a trust separate from Hoffmann’s direct holdings.

How does the Form 4 describe David Hoffmann’s role at Lee Enterprises (LEE)?

The filing identifies David Henry Hoffmann as a director and 10% owner of Lee Enterprises. This status means he is both on the company’s board and a significant shareholder under SEC beneficial ownership rules.

What does the weighted average price disclosure mean in Hoffmann’s LEE trades?

A footnote explains that at least one transaction was executed in multiple trades, and the reported price is a weighted average purchase price. Detailed trade prices and share amounts are available upon request to the SEC staff or shareholders.