LEE — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-08-07

• On May 14, 2026, we entered into a five-year management agreement with HMG, effective June 1, 2026, under which we manage certain HMG-owned newspaper publications and related digital properties. HMG is owned by David Hoffmann, our Chairman and majority shareholder.

• Under the agreement, we receive a fixed management fee of $135,000 per fiscal quarter, a variable fee based on the EBITDA of certain acquired publications, and reimbursement of shared service costs at cost. HMG retains ownership of the publications and all related revenues and remains responsible fo…

• During the three months ended March 29, 2026, we issued an aggregate of 16,000,000 shares of Common Stock, consisting of 15,384,615 shares of Common Stock to certain investors and 615,385 shares of Common Stock to service providers as reimbursement for certain expenses incurred by certain investors,…

• $3.25 per share through the Private Placement. The aggregate gross proceeds from the Private Placement were $50.0 million, before deducting offering expenses. Further, in connection with the closing, we amended our Certificate of Incorporation, increasing the number of authorized shares from 12,000,…

• Digital advertising and marketing revenue44,846 49,097 (8.7)%

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• During the three months ended March 29, 2026, we issued an aggregate of 16,000,000 shares of Common Stock, consisting of 15,384,615 shares of Common Stock to certain investors and 615,385 shares of Common Stock to service providers as reimbursement for certain expenses incurred by certain investors,…

• Advertising and marketing services revenue54,967 60,473 (9.1)%

• (Gain) loss on asset sales, impairments and other, net(900)126 ***

• Equity in earnings of associated companies1,008 1,155 (12.7)%

• Pension and other post employment benefits ("OPEB") related and other, net826 658 25.5 %

Text added vs the prior filing · source: 10-Q · 2026-08-07

• The Associated Press v. Lee Enterprises, Incorporated. In June 2026, The Associated Press ("AP") filed a lawsuit against us in New York State Court alleging that we breached the parties' agreement. AP seeks to recover alleged damages, including amounts purportedly due under the agreement, together w…

• attorneys' fees, and other relief requested in the complaint. At this stage of the proceedings, loss is not reasonably estimable.

Text added vs the prior filing · source: 10-Q · 2026-08-07

• On June 11, 2026, Mr. Hoffmann, the Company's Chairman of the Board, terminated the previously reported 10b5-1 Plan adopted on March 13, 2026.

• Other than as described above, during the three months ended June 28, 2026, no director or officer of the Company adopted or terminated a “Rule 10b5-1 trading arrangement” or “non-Rule 10b5-1 trading arrangement,” as each term is defined in Item 408(a) of Regulation S-K.

• On February 3, 2025, we experienced a cybersecurity incident that disrupted certain information technology systems and resulted in unauthorized access to certain files (the "Cyber Incident"). We promptly activated our incident response plan, engaged third-party cybersecurity experts to investigate a…

• The Cyber Incident adversely affected our fiscal 2025 operations. We continue to respond to the incident through remediation activities, implementation of additional cybersecurity controls and system enhancements, and ongoing legal and forensic review. We also continue to pursue recovery under our c…

• For information regarding the financial statement impact of the Cyber Incident, including related costs, insurance recoveries, and the presentation of those amounts in the Consolidated Financial Statements, see Note 12.

Text removed vs the prior filing · source: 10-Q · 2026-05-08

• On March 13, 2026, Mr. David Hoffmann, the Company's Chairman of the Board, adopted a 10b5-1 Plan. Mr. Hoffmann’s 10b5-1 Plan is intended to satisfy the affirmative defense of Rule 10b5-1(c). Trades under Mr. Hoffmann’s 10b5-1 Plan are subject to the required “cooling-off period” with the estimated …

• On February 3, 2025, we experienced a cybersecurity incident that disrupted certain IT systems and resulted in unauthorized access to certain files (the “Cyber Incident”). We activated our incident-response plan, engaged third-party cybersecurity experts, notified law enforcement, and offered identi…

• Since the incident, we have incurred $10.5 million in cash flow losses attributable to the cyber incident, which have been submitted for recovery to our insurance providers. Approximately $3.7 million of incurred expenses and $2.0 million of reimbursements were recognized in "Restructuring and Other…

• ended March 29, 2026, we have received $0.8 million of reimbursements, which are presented as a reduction of related costs within “Restructuring and other” and $5.8 million in business interruption reimbursements that were recorded on a separate line within "Operating Expenses".