Lee Enterprises Appoints Gregory Hoffmann to Board

What Happened

• Lee Enterprises announced on Sept. 24, 2026 that the Board appointed Gregory Hoffmann (age 37) as a director, effective immediately. He will serve until the Company’s 2028 annual meeting of stockholders and has been assigned to the Nominating and Corporate Governance Committee. Hoffmann will receive the Company’s standard non-employee director compensation (prorated as applicable) and is expected to enter into the Company’s usual indemnification agreement for directors.
• Gregory Hoffmann is Co-CEO of Hoffmann Family of Companies and CEO of Hoffmann Commercial Real Estate (CEO since April 2017). He holds a B.S. in finance and mathematics from Miami University and an MBA from Northwestern’s Kellogg School of Management. He is the son of David Hoffmann, Lee’s Chairman and majority stockholder.

Key Details

• Appointment effective: September 24, 2026; term through the 2028 annual meeting.
• Committee: Nominating and Corporate Governance Committee.
• Compensation: Participation in standard non-employee director program; no separate grant made; pay to be prorated.
• Related-party disclosures: (i) David Hoffmann purchased 10,909,440 shares in a Feb. 5, 2026 private placement; (ii) on May 14, 2026 Lee entered a five-year management agreement with Hoffmann Media Group (beneficially owned by David Hoffmann) providing a $135,000 fixed quarterly fee, a variable fee equal to 20% of prior-quarter EBITDA for certain acquired publications, and reimbursement of shared-service costs at cost.

Why It Matters

• Governance and related-party context: The appointment adds a family member of the company’s majority owner to the board, which investors should note because the filing discloses recent related-party transactions (large private share purchase and an ongoing management agreement with Hoffmann Media Group). Those arrangements are disclosed but not characterized as requiring additional Item 404 disclosure beyond what’s reported.
• Experience and potential influence: Hoffmann brings real-estate and acquisitions experience from the Hoffmann family businesses, which may inform board discussions on strategy or transactions. Investors should monitor future disclosures for any additional related-party agreements, changes in governance, or impacts on corporate strategy. The company also filed a press release under Regulation FD (Exhibit 99.1) announcing this appointment.