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LEE ENTERPRISES, Inc·4

Feb 9, 3:53 PM ET

MOWBRAY KEVIN 4

Research Summary

AI-generated summary

Updated

LEE CEO Kevin Mowbray Surrenders 7,867 Shares for Tax Withholding

What Happened

  • Kevin Mowbray, President & CEO and a director of Lee Enterprises (LEE), reported a tax-withholding disposition of 7,867 shares on Feb 5, 2026. The withholding was recorded at $5.46 per share for a total value of $42,954. This was a deemed disposition of shares withheld to satisfy tax obligations tied to the vesting of previously granted restricted stock—not an open-market sale.
  • The filing also reports prior grants on Mar 11, 2025: two derivative awards of 13,380 and 16,374 shares (restricted stock awards and performance rights/contingent shares) granted under LEE’s amended 2020 Long-Term Incentive Plan.

Key Details

  • Transaction date (tax withholding): 2026-02-05; price used for withholding: $5.46; total value: $42,954.
  • Award grants reported: 2025-03-11 — 13,380 and 16,374 derivative awards (zero purchase price, i.e., awards).
  • Vesting/conditions: options (where applicable) vest in three equal annual installments beginning Dec 16, 2025 (per footnote); performance rights vest on expiration and upon meeting performance criteria.
  • Footnotes: F1 explains the 7,867-share withholding was a tax-withholding disposition of vested restricted stock. F2–F4 describe board approval, shareholder approval of the plan amendment, S-8 registration, vesting schedule, and that performance rights are contingent on performance.
  • Shares owned after the transactions are not provided in the excerpt of the filing.
  • Filing date: Feb 9, 2026. This appears timely given the Feb 5 transaction (filed within the required SEC filing window).

Context

  • Tax-withholding dispositions are common when restricted stock vests: the company withholds (or repurchases) a portion of vested shares to cover taxes, which is different from a sale on the open market and does not necessarily signal intent to reduce ownership.
  • The March 2025 entries are awards/derivatives (restricted shares, options, performance rights). Performance rights convert to shares only if performance conditions are met; options vest over time per the stated schedule.