LEE ENTERPRISES, Inc 8-K

What Happened
Lee Enterprises, Incorporated filed an 8-K on July 24, 2026 reporting a First Amendment to the Stock Purchase Agreement (originally dated December 30, 2025) with several investors, including David H. Hoffmann, Quint Digital Limited, Solas Capital Partners, LP, Blackwell Partners LLC – Series A, Bergen Asset Partners and Niraj Javeri. The amendment modifies the agreement’s standstill provisions to allow investors who beneficially own more than 10% of Lee’s common stock to continue purchasing up to 600,000 shares during the standstill period and to purchase more than 600,000 shares if those additional purchases are made pursuant to a qualified, Company‑approved Rule 10b5-1 trading plan.

Key Details

• Amendment date: July 24, 2026; original Stock Purchase Agreement dated December 30, 2025.
• Affected parties: David H. Hoffmann; Quint Digital Limited; Solas Capital Partners, LP; Blackwell Partners LLC – Series A; Bergen Asset Partners; Niraj Javeri (collectively, the "Investors").
• Purchase limits: Investors may purchase up to 600,000 shares in open market transactions during the standstill; holders >10% may also buy more than 600,000 shares if purchases are made under a Company‑approved Rule 10b5-1 trading plan.
• Clarification: An Investor may elect to make all permitted purchases, including purchases above 600,000 shares, through an approved Rule 10b5-1 plan. Except for these changes, the Stock Purchase Agreement remains unchanged.

Why It Matters
This amendment changes what some large investors are permitted to buy during the standstill period, potentially affecting future insider purchasing activity and share supply. For shareholders, the key takeaway is that certain investors who exceed a 10% ownership threshold now have a defined path to increase holdings beyond the prior 600,000-share cap if they use approved Rule 10b5-1 plans; no other terms of the original agreement were altered. The amendment is filed as Exhibit 10.1 to the 8-K.