SEC Form 4 · accession 0001140361-16-089483
LEE ENTERPRISES, Inc · LEE
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Kevin Mowbray
Officer — Dir., President & CEO · Director
Period of report
Dec 9, 2016
Accepted (ET)
Dec 13, 2016 · 12:59 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0000058361
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Dec 9, 2016 | A | 200,000 | $0.00 | A | 523,763 | D | |
| Common StockF2 | Dec 9, 2016 | A | 14,680 | $0.00 | A | 538,443 | D | |
| Common StockF3 | Dec 9, 2016 | D | 14,680 | $0.00 | D | 523,763 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Employee Stock Option (Right to Buy)F4 | $2.57 | Sep 28, 2010 | A | 55,800 | A | Sep 28, 2011 | Sep 28, 2020 | Common Stock | 55,800 | 55,800 | D |
| Employee Stock Option (Right to Buy)F4 | $1.13 | Apr 30, 2012 | A | 80,000 | A | Apr 30, 2013 | Apr 30, 2022 | Common Stock | 80,000 | 80,000 | D |
Explanation of responses
- F1Award of restricted common stock in accordance with Rule 16b-3(d) of the Exchange Act by the Company's independent Executive Compensation Committee ("ECC") containing vesting restrictions with target amount of restricted common stock, subject to a reduction in share amounts, based on achievement of performance goals established by the ECC under the Issuer's Amended and Restated Incentive Compensation Program (effective as of November 20, 2013).
- F2Award by ECC of non-incentive restricted shares of common stock pursuant to the Issuer's Amended and Restated 1990 Long-Term Incentive Plan. On the transaction date, the closing price on the NYSE of the Company's common stock was $3.35 per share.
- F3Disposition to the Company of the Company's restricted common stock in accordance with Rule 16b-3(e) of the Exchange Act.
- F4These securities are exercisable as follows: 30% upon the first anniversary date of the grant; 60% upon the second anniversary date of the grant; and 100% upon the third anniversary date of the grant.