LEBOVITZ MICHAEL I 4

What Happened

• Michael I. Lebovitz, President of CBL & Associates Properties, had 2,661 shares disposed to satisfy tax withholding on vested restricted stock awards. The filing shows 1,146 shares withheld at $35.59 each ($40,786) and 1,515 shares withheld at $36.13 each ($54,729), for a total value of approximately $95,515. The transaction is coded F (tax withholding).

Key Details

• Transaction date: February 17, 2026 (filed with the SEC on Feb 18, 2026).
• Price/quantity breakdown: 1,146 shares @ $35.59 = $40,786; 1,515 shares @ $36.13 = $54,729; total disposed = 2,661 shares (~$95,515).
• Footnotes: Issuer calculated and notified the shares withheld to cover taxes in connection with RSU vesting on Feb 12 and Feb 15, 2026, using the average of the NYSE high and low prices on the relevant dates. The filer disclaims beneficial ownership except for pecuniary interest. Reported ownership includes 90 shares across three trusts and 296 shares in another trust for the benefit of the reporting person’s children.
• Filing timeliness: No late filing noted; reported the transaction the next day.

Context

• This was a routine tax-withholding disposition tied to vested restricted stock (not a market-driven sell decision). Tax-withholding dispositions (code F) are common when companies retain or sell shares to cover withholding obligations and are not necessarily an indicator of the insider’s view of the stock.