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UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940 |
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Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. | |||
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number. | SEC 1474 (9-02) |
1. Title of Derivative Security (Instr. 3) |
2. Conversion or Exercise Price of Derivative Security | 3. Transaction Date (Month/Day/Year) | 3A. Deemed Execution Date, if any (Month/Day/Year) | 4. Transaction Code (Instr. 8) |
5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4, and 5) |
6. Date Exercisable and Expiration Date (Month/Day/Year) |
7. Title and Amount of Underlying Securities (Instr. 3 and 4) |
8. Price of Derivative Security (Instr. 5) |
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) |
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) |
11. Nature of Indirect Beneficial Ownership (Instr. 4) |
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Code | V | (A) | (D) | Date Exercisable | Expiration Date | Title | Amount or Number of Shares | ||||||||
Employee Stock Option (Right to Buy) | $ 2.57 | 09/28/2011 | 09/28/2020 | Common Stock | 12,600 (5) | 12,600 | D | ||||||||
Class B Common Stock | (1) | 03/02/2011 | C | 512,970 | (1) | (1) | Common Stock | 512,970 | $ 0 | 0 | D | ||||
Class B Common Stock | (1) | 03/02/2011 | C | 1,163,966 | (1) | (1) | Common Stock | 1,163,966 | $ 0 | 0 | I (2) (3) (4) | By Schermer Investment Partnership | |||
Class B Common Stock | (1) | 03/02/2011 | C | 6,000 | (1) | (1) | Common Stock | 6,000 | $ 0 | 0 | I (2) | By Spouse | |||
Class B Common Stock | (1) | 03/02/2011 | C | 6,000 | (1) | (1) | Common Stock | 6,000 | $ 0 | 0 | I (2) | By Son in Trust | |||
Class B Common Stock | (1) | 03/02/2011 | C | 4,000 | (1) | (1) | Common Stock | 4,000 | $ 0 | 0 | I (2) | By Daughter in Trust | |||
Class B Common Stock | (1) | 03/02/2011 | C | 55,010 | (1) | (1) | Common Stock | 55,010 | $ 0 | 0 | I (2) | By Trust |
Reporting Owner Name / Address | Relationships | |||
Director | 10% Owner | Officer | Other | |
SCHERMER GREGORY P C/O LEE ENTERPRISES, INCORPORATED 201 N. HARRISON STREET, STE. 600 DAVENPORT, IA 52801 |
X | X | Vice Pres.-Interactive Media |
Edmund H. Carroll, Limited POA, Attorney-in-Fact | 04/10/2011 | |
**Signature of Reporting Person | Date |
* | If the form is filed by more than one reporting person, see Instruction 4(b)(v). |
** | Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a). |
(1) | The Company's Class B Common Stock automatically converted to Common Stock when the number of outstanding Class B shares declined through trading on March 2, 2011 below the sunset level of 5.6 million shares established in Lee's Restated Certificate of Incorporation, as amended. |
(2) | Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest, if any, therein. |
(3) | Reporting Person disclaims beneficial ownership of all the shares of Common Stock held by Schermer Investment Partnership, L.P. ("SIP"), including those held indirectly by Schermer Management Corporation ("SMC"), except to the extent of his pecuniary interest therein. Reporting Person's father, Lloyd G. Schermer, holds 23.20 limited partnership units of Schermer Investment Partnership LP ("SIP"); Reporting Person's mother, Betty A. Schermer, holds 39.4639 limited partnership units of SIP; Reporting Person holds 10 limited partnership units of SIP; Reporting Person, as trustee of trusts for the benefit of each of his four children, holds 8 limited partnership units of SIP (2 units held by each such trust); Reporting Person's brother, Grant E. Schermer, holds 2 limited partnership units of SIP; Grant E. Schermer, as trustee of a trust for the benefit of Grant E. Schermer, holds 10 limited partnership units of SIP; |
(4) | Grant E. Schermer, as trustee of a grantor retained annuity trust for the benefit of Betty A. Schermer during its term and for his benefit upon its termination, holds 6.3361 limited partnership units of SIP; and SMC holds one general partnership unit of SIP. |
(5) | 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. |