Form 4: Lee Enterprises CFO Exercises Tax Withholding Rights on Restricted Stock

Lee Enterprises' CFO, Timothy R. Millage, exercised tax withholding rights related to vested restricted stock, resulting in a deemed disposition of shares.

Summary

• Timothy R. Millage, the Vice President, CFO, and Treasurer of Lee Enterprises, Inc., exercised tax withholding rights on December 10, 2024.
• This action involved the vesting of previously granted restricted stock.
• The exercise resulted in a deemed disposition of 2,529 shares back to Lee Enterprises.
• The shares were valued at $16.83 each.
• The transaction was reported on December 12, 2024.

Sentiment

Score: 5

Explanation: The document describes a routine transaction related to executive compensation, which is neither positive nor negative for the company's overall performance.

Industry Context

This type of transaction is common for executives who receive stock-based compensation, as it allows them to cover tax obligations upon vesting.

Comparison to Industry Standards

• Tax withholding on vesting restricted stock is a standard practice across publicly traded companies.
• The number of shares and value are specific to the individual's compensation package and the company's stock price at the time of vesting.
• Similar transactions are regularly reported by executives at comparable media companies.

Stakeholder Impact

• The transaction has a minor impact on the total number of outstanding shares, as the shares were returned to the company.

Key Dates

Keywords

Lee Enterprises, restricted stock, tax withholding, share disposition, CFO, equity compensation