Ray G. Farris - 07 Dec 2021 Form 4 Insider Report for LEE ENTERPRISES, Inc (LEE)

Role: Vice President - Advertising
Signature: /s/Timothy B. Gulbranson, Limited POA, Attorney-in-Fact
Issuer symbol: LEE
Transactions as of: 07 Dec 2021
Net transactions value: -$23,284
Form type: 4
Filing time: 09 Dec 2021, 14:55:16 UTC
Previous filing: 02 Jun 2021
Next filing: 13 Jan 2022
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	LEE	Common Stock	Tax liability	$23,284	-937	-5.3%	$24.85	16,598	07 Dec 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
holding	LEE	Employee Stock Option (Right to Buy)						0	07 Dec 2021	Common Stock	800	$11.30	Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Exercise of tax withholding in connection with vesting of previously granted (and reported) restricted stock resulting in a deemed disposition of the withheld shares back to Lee.
F2	These 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.