LEBOVITZ STEPHEN D 4

What Happened

Stephen D. Lebovitz, CEO and Director of CBL & Associates Properties (CBL), received grants of restricted/common stock and performance-related awards totaling 243,058 shares on Feb 11, 2026. To satisfy tax withholding, 52,664 shares were surrendered: 2,755 shares at $36.55 ($100,681) and 49,909 shares at $36.05 ($1,798,970), for total withholding proceeds of approximately $1,899,651. The awards were reported as acquisitions at $0.00 (restricted grants/PSUs), and the share disposals are labeled as tax-withholding (code F), not open-market sales.

Key Details

• Transaction date: February 11, 2026; Form 4 filed Feb 13, 2026 (timely).
• Awards granted: 12,955; 103,271; and 126,832 shares (total 243,058) — granted under company equity plans/PSU agreements (footnotes F1–F3).
• Shares withheld for taxes (dispositions): 2,755 @ $36.55 = $100,681; 49,909 @ $36.05 = $1,798,970; total withheld ≈ 52,664 shares / $1,899,651.
• Transaction codes: A = award/grant; F = payment of exercise price or tax liability (share withholding).
• Shares owned after the transaction: not specified in the supplied filing details.
• Footnotes: grants per 2021 Equity Incentive Plan and 2022/2023 PSU award agreements; reporting person disclaims beneficial ownership except for pecuniary interest; trust-related disclosures noted (F4–F6).

Context

• These transactions reflect stock awards vesting and routine company tax-withholding via share surrender — common for restricted stock/PSU vesting and not the same as an open-market sale by the insider.
• Awards (A) are acquisition-type entries at $0.00 (restricted stock/PSUs); disposals (F) are tax-related withholdings, which generally do not signal insider buying/selling intent.
• No indication of a 10% owner transaction or a 10b5-1 plan; no late filing indicated.