<SEC-DOCUMENT>0001183010-19-000013.txt : 20191230
<SEC-HEADER>0001183010-19-000013.hdr.sgml : 20191230
<ACCEPTANCE-DATETIME>20191230155809
ACCESSION NUMBER:		0001183010-19-000013
CONFORMED SUBMISSION TYPE:	8-K
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20191223
ITEM INFORMATION:		Other Events
FILED AS OF DATE:		20191230
DATE AS OF CHANGE:		20191230

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			LEE ENTERPRISES, Inc
		CENTRAL INDEX KEY:			0000058361
		STANDARD INDUSTRIAL CLASSIFICATION:	NEWSPAPERS:  PUBLISHING OR PUBLISHING & PRINTING [2711]
		IRS NUMBER:				420823980
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			0929

	FILING VALUES:
		FORM TYPE:		8-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-06227
		FILM NUMBER:		191316644

	BUSINESS ADDRESS:	
		STREET 1:		4600 E. 53RD STREET
		CITY:			DAVENPORT
		STATE:			IA
		ZIP:			52807
		BUSINESS PHONE:		5633832100

	MAIL ADDRESS:	
		STREET 1:		4600 E. 53RD STREET
		CITY:			DAVENPORT
		STATE:			IA
		ZIP:			52807

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEE ENTERPRISES, INC
		DATE OF NAME CHANGE:	20050610

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	LEE ENTERPRISES INC
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>8-K
<SEQUENCE>1
<FILENAME>form8k122319.htm
<DESCRIPTION>FORM 8-K
<TEXT>
<html>
  <head>
    <title></title>
    <!-- Licensed to: Lane & Waterman LLP
         Document created using EDGARfilings PROfile 5.1.0.0
         Copyright 1995 - 2019 Broadridge -->
  </head>
<body text="#000000" bgcolor="#ffffff" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt;">
  <div><br>
  </div>
  <div>
    <hr align="center" style="border: none; border-bottom: 1px solid black; border-top: 4px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;"></div>
  <div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;"> <br>
    </div>
    <div style="text-align: center; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">UNITED STATES</div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">SECURITIES AND EXCHANGE COMMISSION</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Washington, D.C. 20549</font></div>
    <div><br>
    </div>
    <div style="text-align: center;"><font style="font-size: 18pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">FORM 8-K</font></div>
    <div><br>
    </div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">CURRENT REPORT</font></div>
    <div><br>
    </div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">PURSUANT TO SECTION 13 OR 15(d) OF THE</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">SECURITIES EXCHANGE ACT OF 1934</font></div>
    <div><br>
    </div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Date of Report (Date of earliest event reported):&#160;&#160;December 23, 2019</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">_____________________________________________________</font></div>
    <div style="text-align: center; margin-left: 4.3pt; margin-top: 12pt; margin-bottom: 3pt;"><font style="font-size: 18pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">LEE ENTERPRISES, INCORPORATED</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;(Exact name of Registrant as specified in its charter)</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;">_______________________________________________________________________</font></div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z506b89cbb3fb4c46a4958f4d6d531f52" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">

        <tr>
          <td style="width: 31.46%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Delaware</font></div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(State of Incorporation)</font></div>
          </td>
          <td style="width: 31.79%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">1-6227</font></div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Commission File Number)</font></div>
          </td>
          <td style="width: 36.74%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">42-0823980</font></div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(I.R.S. Employer Identification No.)</font></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">4600 E. 53<sup style="vertical-align: text-top; line-height: 1; font-size: smaller;">rd</sup> Street, Davenport, IA 52807</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(Address of Principal Executive Offices)</font></div>
    <div><br>
    </div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">(563) 383-2100</font></div>
    <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Registrant&#8217;s telephone number, including area code</font></div>
    <div><br>
    </div>
    <div><br>
    </div>
    <div style="text-align: left; margin-left: 5.4pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the
        registrant under any of the following provisions:</font></div>
    <div><br>
    </div>
    <div style="text-align: left; margin-left: 5.4pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">[&#160; ]&#160;&#160;Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)</font></div>
    <div><br>
    </div>
    <div style="text-align: left; margin-left: 5.4pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">[&#160; ]&#160;&#160;Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</font></div>
    <div><br>
    </div>
    <div style="text-align: left; margin-left: 5.4pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">[&#160; ]&#160;&#160;Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</font></div>
    <div><br>
    </div>
    <div style="text-align: left; margin-left: 5.4pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">[&#160; ]&#160;&#160;Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</font></div>
    <div><br>
    </div>
    <div style="text-align: left; margin-left: 5.4pt;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Securities<font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;"> registered pursuant to Section 12(b)
          of the Act:</font></font></div>
    <div><br>
    </div>
    <table cellspacing="0" cellpadding="0" id="z093f5d500c3a4601a32f644e3c95f8aa" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">

        <tr>
          <td style="width: 37.86%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Title of each class</font></div>
          </td>
          <td style="width: 0.77%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
          </td>
          <td style="width: 24.48%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div>&#160;</div>
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Trading Symbol(s)</font></div>
          </td>
          <td style="width: 1.48%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
          </td>
          <td style="width: 35.42%; vertical-align: top; border-bottom: #000000 2px solid;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Name of each exchange on which registered</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 37.86%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Common Stock, $.01 par value per share</font></div>
          </td>
          <td style="width: 0.77%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
          </td>
          <td style="width: 24.48%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">LEE</font></div>
          </td>
          <td style="width: 1.48%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
          </td>
          <td style="width: 35.42%; vertical-align: top;">
            <div style="text-align: center;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">New York Stock Exchange</font></div>
          </td>
        </tr>

    </table>
    <div><br>
    </div>
    <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Indicate by check mark whether the Registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (&#167;230.405 of
        this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (&#167;240.12b-2 of this chapter).</font></div>
    <table cellspacing="0" cellpadding="0" id="z80c67b85a6f746c6a03e995ab33b1528" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">

        <tr>
          <td style="width: 37.79%; vertical-align: top;">&#160;</td>
          <td style="width: 23.16%; vertical-align: top;">&#160;</td>
          <td style="width: 39.05%; vertical-align: top;">
            <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">Emerging growth company&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;&#160;[&#160; ]</font></div>
          </td>
        </tr>
        <tr>
          <td style="width: 100%; vertical-align: top;" colspan="3">
            <div>&#160;</div>
            <div style="text-align: justify;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for
                complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; &#160; [&#160; ]</font></div>
          </td>
        </tr>

    </table>
    <div>
      <div style="text-align: center;"><br>
      </div>
    </div>
    <div>
      <hr align="center" style="border: none; border-bottom: 4px solid black; border-top: 1px solid black; height: 10px; color: #ffffff; background-color: #ffffff; text-align: center; margin-left: auto; margin-right: auto;">
      <div><br>
      </div>
    </div>
    <div style="clear: both; margin-top: 10pt; margin-bottom: 10pt;" id="DSPFPageBreakArea">
      <div style="page-break-after: always;" id="DSPFPageBreak">
        <hr noshade="noshade" style="border-width: 0px; clear: both; margin: 4px 0px; width: 100%; height: 2px; color: #000000; background-color: #000000;"></div>
    </div>
    <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif; font-weight: bold;"> <br>
      </font></div>
    <div style="text-align: left;"><font style="font-size: 12pt; font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">Item 8.01.</font><font style="font-size: 12pt;">&#160;&#160;&#160;&#160;&#160; <font style="font-family: &quot;Times New
          Roman&quot;,Times,serif; font-weight: bold;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif;"><u>Other Events</u></font>.</font></font></div>
    <font style="font-size: 12pt;"> </font>
    <div style="text-align: justify; margin-top: 19.1pt; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif;">On December 23, 2019, upon recommendation of the Executive Compensation Committee (&#8220;ECC&#8221;) of the Board of
        Directors (&#8220;Board&#8221;) of Lee Enterprises, Incorporated (the &#8220;Company&#8221;) following review and analysis of industry peer board compensation practices as part of its ongoing review and revision of Company governance practices, the Board approved the
        following changes to Board compensation: (i) the elimination of all Board and committee membership and meeting fees; (ii) an increase of the annual cash retainer to $100,000 in lieu of such meeting fees; (iii) implementation by the ECC of cash
        retainers for committee chairs and the Board's lead director; (iv) implementation of director stock ownership guidelines, including ownership of the Company's Common Stock with a share value of at least $300,000 from and after June 1, 2027; (v)
        implementation of a CEO stock ownership guideline of Common Stock with a share value to be established by the ECC; (vi) the merger of the Amended and Restated 1996 Stock Plan for Non-Employee Directors (&#8220;Director Stock Plan&#8221;) with and into the
        Amended and Restated 1990 Long-Term Incentive Plan (effective October 1, 1999, as amended effective February 19, 2020) (the &#8220;2020 Plan&#8221;); (vii) an annual grant under the 2020 Plan to each non-employee director of shares of the Company's restricted
        common stock valued in the amount of $50,000 on June 1, 2020 and grants of such shares on June 1 of each following year of a value to be determined by the Board from time to time; and (viii) transition from the 10-year holding period (the &#8220;10-Year
        Hold&#8221;) for shares previously issued under the Director Stock Plan<font style="font-family: &quot;Times New Roman&quot;,Times,serif;">&#160;</font>to a vesting period of one (1) year under the 2020 Plan; <u>provided</u>, for any shares presently issued
        and outstanding, the 10-Year Hold will continue to apply, unless such director retires, resigns or dies while holding the position of director prior to satisfying this holding requirement; and <font style="font-family: &quot;Times New
          Roman&quot;,Times,serif;"><u>provided further</u></font>, that any shares hereinafter issued to the Company&#8217;s directors shall, upon vesting, be subject to a continuing holding requirement until such director satisfies the director stock ownership
        guidelines from time to time established by the Board, whereupon any vested shares held by a director in excess of the then-established stock ownership guidelines may be disposed of by such director at his or her discretion consistent with
        applicable law.</font></div>
    <font style="font-size: 12pt;"> </font>
    <div style="text-align: justify; margin-top: 13.7pt; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif;">The new compensation program approved by the Board will be effective March 1, 2020; provided, that the revised
        annual stock grant to non-employee Board members is subject to shareholder approval of the merger of the Director Stock Plan with and approval of the 2020 Plan to provide for the issuance of such grants.</font></div>
    <font style="font-size: 12pt;"> </font>
    <div style="text-align: center; margin-top: 19.65pt; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">SIGNATURES</font></div>
    <font style="font-size: 12pt;"> </font>
    <div style="text-align: justify; margin-top: 19.65pt; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif;">Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report
        to be signed on its behalf by the undersigned thereunto duly authorized.</font></div>
    <div style="text-align: justify; margin-top: 19.65pt;"><br>
      <table cellspacing="0" cellpadding="0" border="0" id="z8992c18a5c404197be746ffed6d3d008" style="font-family: 'Times New Roman', Times, serif; font-size: 10pt; width: 100%;">

          <tr>
            <td style="width: 40.06%; vertical-align: top;">
              <div style="text-align: left; font-family: 'Times New Roman', Times, serif; font-size: 10pt;">&#160;</div>
            </td>
            <td style="width: 9.46%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
            </td>
            <td style="vertical-align: top;" colspan="2">
              <div style="text-align: left; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif; font-weight: bold;">LEE ENTERPRISES, INCORPORATED</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 40.06%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
            </td>
            <td style="width: 9.46%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
            </td>
            <td style="width: 37%; vertical-align: top; border-bottom: 2px solid rgb(0, 0, 0);" rowspan="3">
              <div>&#160;</div>
              <div> <br>
              </div>
              <div>&#160;<font style="font-size: 12pt;">/s/Timothy R. Millage</font><br>
              </div>
            </td>
            <td style="width: 14%; vertical-align: top;" rowspan="3">&#160;</td>
          </tr>
          <tr>
            <td style="width: 40.06%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
            </td>
            <td style="width: 9.46%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 40.06%; vertical-align: top;">
              <div style="text-align: left; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif;">Date:&#160; December 30, 2019</font></div>
            </td>
            <td style="width: 9.46%; vertical-align: top;">
              <div style="text-align: right; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif;">By:</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 40.06%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
            </td>
            <td style="width: 9.46%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
            </td>
            <td style="vertical-align: top;" colspan="2">
              <div style="text-align: left; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif;">&#160;Timothy R. Millage</font></div>
            </td>
          </tr>
          <tr>
            <td style="width: 40.06%; vertical-align: top;">&#160;</td>
            <td style="width: 9.46%; vertical-align: top;">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;</font></div>
            </td>
            <td style="vertical-align: top;" colspan="2">
              <div style="text-align: left;"><font style="font-size: 10pt; font-family: 'Times New Roman', Times, serif;">&#160;<font style="font-size: 12pt;">Vice President, Chief Financial Officer</font></font></div>
              <font style="font-size: 12pt;"> </font>
              <div style="text-align: left; font-size: 12pt;"><font style="font-family: &quot;Times New Roman&quot;,Times,serif;">&#160;&#160;&#160; and Treasurer</font></div>
            </td>
          </tr>

      </table>
    </div>
    <br>
  </div>
</body>
</html>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
