Hoffmann David Henry 4

What Happened

• David Hoffmann (reported as a 10% owner) purchased a total of 38,000 shares of LEE Enterprises, Inc. (LEE) in two open-market transactions. He bought 19,000 shares on 2026-03-04 at a weighted average price of $9.16 ($174,040) and another 19,000 shares on 2026-03-05 at $9.26 ($175,940), for a combined outlay of $349,980. These were purchases (acquisitions), which are often viewed as a more informative signal than routine sales.

Key Details

• Transaction dates and prices:
  • 2026-03-04: Purchase, 19,000 shares @ $9.16 (weighted average) = $174,040
  • 2026-03-05: Purchase, 19,000 shares @ $9.26 = $175,940
• Total shares acquired: 38,000; total value ≈ $349,980 (~$350K)
• Shares owned after transaction: Not disclosed in this Form 4
• Filing date: 2026-03-06 (filed within the standard two-business-day reporting window for Section 16 filers)
• Footnote: The Mar 4 price is a weighted average reflecting multiple trades; the filer will provide trade-level details on request (Footnote F1)
• Transaction code: P = Purchase

Context

• Hoffmann is reported as a 10% owner (a significant shareholder), not necessarily a company executive. Purchases by large shareholders increase their stake but do not by themselves explain motive. The filing appears timely and contains a footnote clarifying the weighted-average price for the first trade.