CBL CEO Stephen D. Lebovitz Sells 50,000 Shares for $2.64M

What Happened
Stephen D. Lebovitz (CEO and Director) reported two open-market sales on 2026-09-16 totaling 50,000 CBL shares for aggregate proceeds of $2,641,425. The larger block was 43,133 shares at a weighted average price of $52.73 (proceeds $2,274,252); the smaller was 6,867 shares at a weighted average price of $53.47 (proceeds $367,173). These were sales (code S) — not purchases or option exercises.

Key Details

• Transaction dates: 2026-09-16; Form 4 filed 2026-09-17 (timely filing).
• Prices: weighted averages reported of $52.73 and $53.47. Per footnotes, actual trade prices ranged from $52.3550–$53.3500 (first block) and $53.3600–$53.6050 (second block). The filer offers to provide the breakdown by price on request via the issuer’s Chief Legal Officer.
• Total shares sold: 50,000; total proceeds: $2,641,425.
• Shares owned after the transaction: not specified in the provided summary.
• Ownership/beneficial-interest notes: the filer disclaims beneficial ownership except for pecuniary interest (F3); some holdings reported relate to irrevocable trusts (F4, F5).

Context

• These were open-market dispositions (sales). The filing gives no explanation of motive; sales by executives can be routine for diversification, tax, or liquidity reasons and do not, by themselves, indicate a change in company outlook.
• No option exercises, grants, or gifts were reported in this filing.