CBL (NYSE: CBL) exec VP sells 8,150 shares, retains 59,622-share stake

Rhea-AI Filing Summary

CBL & Associates Properties executive vice president of accounting Andrew Franklin Cobb reported selling a total of 8,150 shares of common stock in open-market transactions on May 14, 2026. The sales occurred at weighted average prices reported as $46.31 and $45.8046 per share, across multiple trades between $45.30 and $46.27.

After these sales, Cobb directly owns 59,622 shares of CBL common stock. This holding includes 28,134 shares in an account owned jointly by Cobb and his spouse.

Insider Trade Summary

Net Seller: 8,150 shares ($373,333)

Net Sell 2 txns

Insider Cobb Andrew Franklin

Role Exec VP-Accounting

Sold 8,150 shs ($373K)

Type	Security	Shares	Price	Value
Sale	Common Stock	8,099	$45.8046	$371K
Sale	Common Stock	51	$46.31	$2K

Holdings After Transaction: Common Stock — 59,673 shares (Direct, null)

Footnotes (1)

1. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $45.30 to $46.27, inclusive. The Reporting Person undertakes to provide to any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information already provided to the Issuer regarding the number of shares sold at each separate price within such range. Please submit any such request through the Issuer's Chief Legal Officer, Jeffery V. Curry. This total includes 28,134 shares held in an account owned jointly by the Reporting Person and his spouse.

Key Figures

Total shares sold: 8,150 shares Sale price (block 1): $46.31 per share Sale price (block 2): $45.8046 per share +3 more

6 metrics

Total shares sold 8,150 shares Open-market sales of CBL common stock on May 14, 2026

Sale price (block 1) $46.31 per share Weighted average price for 51 shares sold

Sale price (block 2) $45.8046 per share Weighted average price for 8,099 shares sold

Holding after transactions 59,622 shares Direct ownership of CBL common stock following sales

Jointly owned shares 28,134 shares Included in Cobb’s total, held in a joint account with spouse

Trade price range $45.30–$46.27 per share Range of individual trade prices underlying weighted averages

Key Terms

open-market sale, weighted average price, non-derivative, jointly

4 terms

open-market sale financial

"transaction_action: "open-market sale" for each common stock transaction"

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

non-derivative financial

"transaction_type": "non-derivative" for the common stock sales"

jointly financial

"This total includes 28,134 shares held in an account owned jointly by the Reporting Person and his spouse."

Form 4 Insider Transactions: What Each Field Means →

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Cobb Andrew Franklin

(Last) (First) (Middle)

CBL CENTER, STE 500

2030 HAMILTON PLACE BLVD

(Street)

CHATTANOOGA TENNESSEE 37421

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
CBL & ASSOCIATES PROPERTIES INC [ CBL ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Exec VP-Accounting

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/14/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
Common Stock	05/14/2026		S		8,099	D	$45.8046(1)	59,673	D(2)
Common Stock	05/14/2026		S		51	D	$46.31	59,622	D(2)

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. The price reported in Column 4 is a weighted average price. These shares were sold in multiple transactions at prices ranging from $45.30 to $46.27, inclusive. The Reporting Person undertakes to provide to any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information already provided to the Issuer regarding the number of shares sold at each separate price within such range. Please submit any such request through the Issuer's Chief Legal Officer, Jeffery V. Curry.

2. This total includes 28,134 shares held in an account owned jointly by the Reporting Person and his spouse.

	/s/ Jeffery V. Curry, attorney-in-fact for Andrew F. Cobb	05/18/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

How many CBL (CBL) shares did Andrew Franklin Cobb sell in this Form 4?

Andrew Franklin Cobb sold a total of 8,150 shares of CBL common stock. The transactions were reported as two open-market sales on May 14, 2026, reflecting routine insider portfolio activity rather than any derivative exercise or grant event.

At what prices did the CBL (CBL) executive sell his shares?

The reported sales occurred at weighted average prices of $46.31 and $45.8046 per share. A footnote explains the shares were sold in multiple trades within a $45.30 to $46.27 price range, all on May 14, 2026.

How many CBL (CBL) shares does Andrew Franklin Cobb hold after the sale?

Following the reported transactions, Andrew Franklin Cobb directly holds 59,622 CBL common shares. This total includes 28,134 shares held in an account jointly owned with his spouse, as disclosed in a footnote to the Form 4 filing.

What type of insider transactions were reported for CBL (CBL) in this Form 4?

The Form 4 reports two open-market sales of CBL common stock, both coded as “S” transactions. These are non-derivative dispositions, meaning they involve direct share sales rather than option exercises, conversions, gifts, or tax-withholding events.

Does the CBL (CBL) Form 4 mention how the sale prices were calculated?

Yes. A footnote states that the price reported in Column 4 represents a weighted average price. The shares were sold in multiple individual trades, with prices ranging from $45.30 to $46.27 per share on the transaction date.