CEO Kevin Mowbray was paid $1,151,667 in fiscal year 2025, ↑ up 4.1% from fiscal year 2024, the 1st percentile of its disclosed peer group (SEC filing 0000058361-26-000024 ↗): executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.
$1,151,667 ↑ Kevin Mowbray total, FY2025 | 1st CEO pay percentile vs peers | 20:1 CEO-to-median pay ratio | 99.82% Say-on-pay support, latest vote |
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LEE's next annual pay disclosure, estimated April 22, 2027.est. Filing ↗
| Named executive officer | Salary | Bonus | Stock awards | Option awards | Non-equity incentive | Pension / NQDC | All other | Total |
|---|---|---|---|---|---|---|---|---|
| Kevin Mowbray | $830,753 | $0 | $274,832 | $29,168 | $0 | $0 | $16,914 | $1,151,667 |
| President and Chief Executive Officer | ||||||||
| Nathan Bekke | 553,836 | 0 | 122,149 | 12,962 | 0 | 0 | 5,077 | 694,023 |
| Chief Operating Officer | ||||||||
| Timothy Millage | 484,606 | 0 | 106,882 | 11,343 | 0 | 0 | 9,611 | 612,442 |
| Vice President, Chief Financial Officer, and Treasurer | ||||||||
A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.
| Named executive officer | FY2025 total | FY2024 total | FY2023 total | Δ FY2024→2025 |
|---|---|---|---|---|
| Kevin Mowbray | $1,151,667 | $1,106,261 | $1,325,451 | ↑ +45,406 |
| Nathan Bekke | 694,023 | 657,214 | 662,803 | ↑ +36,809 |
| Timothy Millage | 612,442 | 625,346 | 681,971 | ↓ −12,904 |
Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.
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Each company listed discloses LEE in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named LEE in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.
One page per director: the seat, the committees and the fee table, read for one person at a time.
| Director | Role | FY2025 total |
|---|---|---|
| Brent M. Magid | Independent Director | $175,000 |
| Jonathon F. Miller | Independent Director | $160,000 |
| Madeline E. McIntosh | Independent Director | $160,000 |
| Margaret R. Liberman | Independent Director | $160,000 |
| Mary E. Junck | Independent Director | $250,000 |
| Shaun E. McAlmont | Independent Director | $160,000 |
| Steven C. Fletcher | Independent Director | $175,000 |
No insider equity transactions reported since the proxy statement.
| Executive | Award | Grant date | Threshold | Target | Granted | Maximum | Grant-date fair value |
|---|---|---|---|---|---|---|---|
| Nathan Bekke | RSU | 2024-12-16 | — | — | 16,855 | — | $135,111 |
| Timothy Millage | RSU | 2024-12-16 | — | — | 14,749 | — | 118,224 |
| Kevin Mowbray | RSU | 2024-12-16 | — | — | 37,926 | — | 304,000 |
| Named executive officer | Time-vested (RSU) | Performance-vested (PSU) | Options / SARs | % performance-vested |
|---|---|---|---|---|
| Nathan Bekke | $135,111 | $0 | $0 | 0.0% |
| Timothy Millage | 118,224 | 0 | 0 | 0.0% |
| Kevin Mowbray | 304,000 | 0 | 0 | 0.0% |
% performance-vested = PSU grant-date fair value ÷ (RSU + PSU + Options), a computed value with the derivation shown in the register.
| Executive | Award | Shares unvested | Exercise price | Market value unvested |
|---|---|---|---|---|
| Kevin Mowbray | RSU | 21,000 | — | $118,860 |
| Kevin Mowbray | RSU | 15,000 | — | 84,900 |
| Timothy Millage | RSU | 10,000 | — | 56,600 |
| Nathan Bekke | RSU | 8,394 | — | 47,510 |
| Kevin Mowbray | RSU | 8,182 | — | 46,309 |
| Timothy Millage | RSU | 7,275 | — | 41,177 |
| Nathan Bekke | RSU | 6,995 | — | 39,592 |
| Nathan Bekke | RSU | 3,636 | — | 20,580 |
| Timothy Millage | RSU | 3,182 | — | 18,009 |
The Company's executive compensation program is designed to attract and retain qualified executives, align executive interests with stockholders, and reward performance. The program consists of base salary, annual cash incentives, and long-term equity awards.
| CEO STI target (% of salary) | — |
|---|---|
| CEO LTI target (% of salary) | — |
| Independent consultant | Korn Ferry |
| Clawback policy | true |
| Anti-hedging | true |
| Anti-pledging | true |
| Meeting year | Meeting date | For | Against | Abstain | Support | Outcome |
|---|---|---|---|---|---|---|
| 2026 | 2026-04-06 | 18,798,111 | 33,165 | 12,019 | 99.82% | Passed |
| 2025 | 2025-02-27 | 2,628,357 | 949,247 | 8,519 | 73.47% | Passed |
| 2024 | 2024-02-22 | 2,215,771 | 1,151,627 | 13,258 | 65.8% | Passed |
| 2023 | 2023-04-18 | 2,238,413 | 1,068,277 | 45,462 | 66.78% | Passed |
| 2020 | 2020-02-19 | 26,243,252 | 2,842,237 | 3,742,661 | 79.94% | Passed |
| 2017 | 2017-02-22 | 27,407,243 | 1,229,456 | 89,048 | 95.71% | Passed |
Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.
| Meeting year | Meeting date | Approval — company's computation |
|---|---|---|
| 2026 | 2026-04-06 | 99.82%a |
| 2025 | 2025-02-27 | 73.47%b |
| 2024 | 2024-02-22 | 65.8%c |
a. Voting standard not stated in the filing.
b. Voting standard not stated in the filing.
c. Approved under the standard stated in the filing — “Abstentions will have no effect with respect to proposals 2 and 3, and broker non-votes will have no effect with respect to all three proposals.”.
Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.
| Ratio (CEO : median employee) | 20 : 1 |
|---|---|
| CEO total compensation | — |
| Median employee compensation | $54,732 |
| Director | Cash fees | Stock awards | Option awards | Non-equity incentive | All other | Total |
|---|---|---|---|---|---|---|
| Mary E. JunckIndependent · Executive Compensation Committee | $250,000 | $0 | — | — | — | $250,000 |
| Herbert W. Moloney IIIIndependent · Lead Independent Director · Audit & Risk Management · Executive Compensation (Chair) · Nominating & Corporate Governance · Compensation | 135,000 | 60,000 | — | — | — | 195,000 |
| Steven C. FletcherIndependent · Audit & Risk Management (Chair) · Executive Compensation · Compensation | 115,000 | 60,000 | — | — | — | 175,000 |
| Brent M. MagidIndependent · Executive Compensation · Nominating & Corporate Governance (Chair) · Compensation · Not standing for re-election | 115,000 | 60,000 | — | — | — | 175,000 |
| Shaun E. McAlmontIndependent · Audit and Risk Management Committee · Executive Compensation Committee · Compensation | 100,000 | 60,000 | — | — | — | 160,000 |
| Margaret R. LibermanIndependent · Nominating and Corporate Governance Committee · Not standing for re-election | 100,000 | 60,000 | — | — | — | 160,000 |
| Madeline E. McIntoshIndependent · Nominating and Corporate Governance Committee | 100,000 | 60,000 | — | — | — | 160,000 |
| Jonathon F. MillerIndependent · Audit & Risk Management · Not standing for re-election | 100,000 | 60,000 | — | — | — | 160,000 |
| Annual cash retainer | $100,000 |
|---|---|
| Annual equity retainer | $60,000 |
| Per board meeting fee | — |
| Committee chair fees (audit / comp / nom-gov) | 15,000 / 15,000 / 10,000 |
| Stock ownership guideline | Implementation of non-employee director stock ownership guidelines, as reflected in the Company Corporate Governance Guidelines; |
| Component | FY2025 |
|---|---|
| Cash retainers and fees | $1,015,000 |
| Equity awards (grant-date value) | $420,000 |
| All other compensation | $0 |
| Total cost of the board | $1,435,000 |
Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.
Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.
| Rank | Company | FY | Chief executive | Salary | Stock awards | Option awards | Non-equity incentive | Total |
|---|---|---|---|---|---|---|---|---|
| 1 | Lee Enterprises | 2025 | Kevin Mowbray | $830,753 | $274,832 | $29,168 | $0 | $1,151,667 |
Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.
Answers are drawn only from the figures disclosed in this brief and cited to their location in the source filing. Where a figure required for an answer is not disclosed, that is stated rather than estimated.
Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.
| # | Supports | Document | Filed | Accession | Location in document |
|---|---|---|---|---|---|
| 1 | Section 01, Kevin Mowbray | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “Executive Compensation”. As printed: 1,151,667. Filing ↗machine: r3 · c21 · span 422187–422197 |
| 2 | Section 01, Nathan Bekke | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “Executive Compensation”. As printed: 694,023. Filing ↗machine: r9 · c21 · span 430148–430156 |
| 3 | Section 01, Timothy Millage | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “Executive Compensation”. As printed: 612,442. Filing ↗machine: r6 · c21 · span 426263–426271 |
| 4 | Section 03, Nathan Bekke RSU | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 443071–443078 |
| 5 | Section 03, Timothy Millage RSU | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 441766–441773 |
| 6 | Section 03, Kevin Mowbray RSU | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “Executive Compensation” · grants of plan-based awards table. Filing ↗machine: span 440603–440610 |
| 7 | Section 07, pay ratio | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “CEO Pay Ratio”. As printed: 20 : 1. Filing ↗ |
| 8 | Section 08, Mary E. Junck | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “Director Compensation”. As printed: 250,000. Filing ↗machine: span 287832–287959 |
| 9 | Section 08, Herbert W. Moloney III | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “Director Compensation”. As printed: 195,000. Filing ↗machine: span 287015–287316 |
| 10 | Section 08, Steven C. Fletcher | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “Director Compensation”. As printed: 175,000. Filing ↗machine: span 277809–278162 |
| 11 | Section 08, Brent M. Magid | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “Director Compensation”. As printed: 175,000. Filing ↗machine: span 281047–281348 |
| 12 | Section 08, Shaun E. McAlmont | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “Director Compensation”. As printed: 160,000. Filing ↗machine: span 282445–282746 |
| 13 | Section 08, Margaret R. Liberman | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “Director Compensation”. As printed: 160,000. Filing ↗machine: span 279470–279771 |
| 14 | Section 08, Madeline E. McIntosh | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “Director Compensation”. As printed: 160,000. Filing ↗machine: span 284028–284329 |
| 15 | Section 08, Jonathon F. Miller | DEF 14A | 2026-03-05 | 0000058361-26-000024 | Section “Director Compensation”. As printed: 160,000. Filing ↗machine: span 285612–285913 |
| 16 | Section 06, 2026 vote | Form 8-K | 2026-04-07 | 0000058361-26-000030 | Item 5.07 · say-on-pay result. As reported: 99.82% (votes for as printed: 18,798,111). Filing ↗ |
| 17 | Section 06, 2025 vote | Form 8-K | 2025-02-27 | 0001628280-25-008511 | Item 5.07 · say-on-pay result. As reported: 73.47% (votes for as printed: 2,628,357). Filing ↗ |
| 18 | Section 06, 2024 vote | Form 8-K | 2024-02-23 | 0001628280-24-006535 | Item 5.07 · say-on-pay result. As reported: 65.8% (votes for as printed: 2,215,771). Filing ↗ |
| 19 | Section 01 trend, Δ column (computed) | Computed | — | — | Δ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1) |
| 20 | Section 03b vehicle mix (computed) | Computed | — | — | RSU / PSU / Options grant-date fair values summed per officer from the grants table; % performance-vested = PSU ÷ (RSU+PSU+Options).machine: formula: sums + PSU ratio |
| 21 | Section 09b board cost (computed) | Computed | — | — | Cash 1,015,000 + equity 420,000 + all other 0 = 1,435,000, summed across the director compensation table rows.machine: formula: Σ = 1,435,000 |
| 22 | Lee Enterprises (subject), Section 10b CEO total | DEF 14A | 2026-03-05 | 0000058361-26-000024 | CEO total compensation as printed in Lee Enterprises's own proxy. As printed: 1,151,667. Filing ↗machine: r3 · c21 · span 422187–422197 |
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