SEC FORM 4 SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
 
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
1. Name and Address of Reporting Person*
SCHERMER LLOYD G

(Last) (First) (Middle)
C/O REED SMITH LLP
10 SOUTH WACKER DRIVE

(Street)
CHICAGO IL 60606-7507

(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
LEE ENTERPRISES, INC [ LEE ENT ]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
05/15/2005
4. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Class B Common Stock 20,000 D
Class B Common Stock 1,163,966 I(1)(2)(4) By Schermer Investment Partnership
Class B Common Stock 110,020 I(3) By Trust
Class B Common Stock 05/15/2009 G V 8 D $0 19,992 I(4) By Spouse
Class B Common Stock 1,163,966 I(1)(2)(4)(5) By Spouse in Schermer Investment Partnership
Class B Common Stock 49,316 I(3) By Spouse in Trust
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
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 Securities Underlying Derivative Security (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: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Reporting Person disclaims beneficial ownership of all the shares of Lee Class B Common Stock (Lee Class B") 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. As a result of the gifts of limited partnership interests in SIP noted below, Reporting Person holds 23.20 limited partnership units of SIP; Reporting Person's spouse, Betty A. Schermer, holds 37.30 limited partnership units of SIP; Reporting Person's son, Gregory P. Schermer, holds 10 limited partnership units of SIP; Gregory P. Schermer, 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 son, Grant E. Schermer, holds 2 limited partnership units of SIP; Grant E. Schermer,
2. as trustee of a trust for the benefit of Grant E. Schermer, holds 10 limited partnership units of SIP; 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 8.5 limited partnership units of SIP; and SMC holds one general partnership unit of SIP.
3. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of his pecuniary interest, if any, therein.
4. On May 15, 2009 (a) Betty A. Schermer gave one share of Lee Class B to separate trusts for the benefit of each of the four children of Gregory P. Schermer (who is the trustee of such trusts); (b) Reporting Person and Betty A. Schermer each gave to such trusts one limited partnership unit of SIP for the benefit of Gregory P. Schermer's four children; (c) Betty A. Schermer gave one share of Lee Class B and two limited partnership units of SIP to Grant E. Schermer; and (d) Betty A. Schermer gave three shares of Lee Class B and 8.5 limited partnership units of SIP to a grantor retained annuity trust for the benefit of Betty A. Schermer during the term thereof and for the benefit of Grant E. Schermer on termination of such trust.
5. Reporting Person's spouse disclaims beneficial ownership of all the Lee Class B, including those held indirectly by SMC, except to the extent of her pecuniary interest therein.
Edmund H, Carroll, Limited POA 06/11/2009
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* 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).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
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