Hoffmann David Henry 4

What Happened David Hoffmann, a reported 10% owner of Lee Enterprises (LEE), made three open‑market purchases of common stock in mid‑February 2026. He acquired 6,099 shares on Feb 13 at $7.17 ($43,730), 10,600 shares on Feb 17 at $7.10 ($75,260), and 10,600 shares on Feb 18 at $7.17 ($76,002), for a total of 27,299 shares purchased for approximately $194,992 (weighted average ≈ $7.15 per share). These were purchases (code P), which are generally viewed as a bullish signal since the insider added stock rather than sold.

Key Details

• Transaction dates and prices:
  • 2026-02-13: 6,099 shares @ $7.17 = $43,730
  • 2026-02-17: 10,600 shares @ $7.10 = $75,260
  • 2026-02-18: 10,600 shares @ $7.17 = $76,002
• Total shares purchased: 27,299; total value ≈ $194,992; weighted avg price ≈ $7.15.
• Shares owned after the transactions: not specified in the provided filing.
• Footnote: The Feb 18 filing notes (F1) the reported prices are weighted averages from multiple trades; the reporting person can provide detailed trade‑level prices/quantities on request.
• Filing timeliness: Form 4 was filed on 2026-02-18. The earliest reported purchase occurred on 2026-02-13 — a five‑day gap that appears to fall outside the typical two‑business‑day reporting window for Form 4s.

Context

• The trades are coded P (purchase) and reflect outright open‑market or private acquisitions, not option exercises or awards.
• As a 10% owner, Hoffmann is a significant stakeholder; purchases by large holders can be of interest to investors but do not by themselves explain motivation or guarantee future performance.
• No indications of tax withholding, gifts, or rule‑based trading plans (e.g., 10b5‑1) are reported in the provided information.