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 BETTY A

(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)
06/29/2010
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 06/29/2010 J(1) 0(1) A(1) $0 19,992(1) D(1)
Class B Common Stock 1,163,966 I By Schermer Investment Partnership(2)(3)(4)
Class B Common Stock 49,316 I By Trust(4)
Class B Common Stock 20,000 I By Spouse(5)
Class B Common Stock 1,163,966 I By Spouse in Schermer Investment Partnership(2)(3)(5)
Class B Common Stock 110,020 I By Spouse in Trust(5)
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. On May 15, 2009 Reporting Person gave three shares of Lee Class B and 8.5 limited partnership units of Schermer Investment Partnership, L.P. ("SIP") to a grantor retained annuity trust for the benefit of Reporting Person during the term thereof and for the benefit of Reporting Person's son, Grant E. Schermer (who is trustee of such trust), on termination of such trust. On June 29, 2010, the trust returned 2.1639 of SIP's limited partnership units to the Reporting Person as an annuity payment. The Reporting Person expects to receive an annuity payment from the trust in 2011.
2. Reporting Person disclaims beneficial ownership of all the shares of Lee Class B held by SIP, including those held indirectly by Schermer Management Corporation ("SMC"), except to the extent of her pecuniary interest therein. As a result of the matters involving SIP limited partnership interests noted above, Lloyd G. Schermer holds 23.20 limited partnership units of SIP; Reporting Person holds 39.4639 limited partnership units of SIP; 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); 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; Grant E. Schermer, as trustee of a grantor retained annuity trust for the benefit of Reporting Person during its term and for his benefit upon its
3. termination, holds 6.3361 limited partnership units of SIP; and SMC holds one general partnership unit of SIP.
4. The Reporting Person disclaims beneficial ownership of these securities, except to the extent of her pecuniary interest, if any, therein.
5. Reporting Person disclaims beneficial ownership of all the Lee Class B, including those held indirectly by SMC, of Reporting Person's spouse except to the extent of his pecuniary interest therein.
Remarks:
Edmund H. Carroll, Lmtd. POA, Attorney-in-Fact 06/29/2010
** 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.
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 Number.