Howard Amster beneficially owns 7.8% of CBL & Associates Properties, representing 2406467.00 common shares, under an activist Schedule 13D. The position matters to investors because Amster holds sole or shared voting and dispositive power across direct holdings, trusts and related entities, giving the activist stake defined governance rights.

Key Highlights

  • Howard Amster’s beneficial ownership totals 2,406,467 CBL common shares.
  • The ownership percentage is calculated against 30,942,757 common shares outstanding as of August 3, 2026.
  • The position includes holdings linked to Pleasant Lake entities, trusts, Ramat Securities Ltd. and NewAx Inc.

Howard Amster beneficially owns 7.8% of CBL & ASSOCIATES PROPERTIES INC (NYSE: CBL), representing 2,406,467 common shares. The position is reported under an activist Schedule 13D dated August 27, 2026. Amster is deemed to have voting and dispositive authority over the shares through direct ownership, trusts and several related entities. The reported percentage is based on 30,942,757 CBL common shares outstanding as of August 3, 2026. The common stock carries a Par Value of $0.001 per share.

Amster’s 7.8% Position

Amster directly owns 1,376,435 CBL common shares, according to the ownership breakdown. His beneficial ownership also includes 377,366 shares held by Pleasant Lake Corp, Pleasant Lake Apartments Limited Partnership and Laughlin Holdings, over which he has sole voting and dispositive power. Trusts jointly reporting with Amster hold 414,085 shares. He exercises sole voting and dispositive authority over those holdings in his role as trustee. The Howard M. Amster Foundation owns 4,178 shares, with Amster holding sole voting and dispositive power as its president. Amster Limited Partnership holds 5,826 shares, with Amster exercising that authority as general partner. Ramat Securities Ltd. holds 130,092 shares. Amster has shared voting and dispositive power over that position as the company’s authorized representative and majority member. NewAx Inc. owns 4,150 shares, over which Amster has shared voting and dispositive power as a director. Pleasant Lake-Skoien Investments LLC holds 94,335 shares, also subject to shared voting and dispositive power connected to Amster’s roles within the Pleasant Lake structure.

Related Holders Detail

Pleasant Lake-Skoien Investments LLC’s position represents 0.3% of CBL common stock. Pleasant Lake Apartments Limited Partnership holds 257,446 shares, equal to 0.8% of the class. The reported interests also include 13,865 shares held by the Howard Amster 2019 Charitable Remainder Unitrust #1. The Howard Amster 2019 Charitable Remainder Unitrust #7 holds 64 shares. Amster Limited Partnership’s 5,826 shares are included in the beneficial ownership total. The Howard Amster 2021 Charitable Remainder Unitrust #1 holds 236 shares. Laughlin Holdings LLC holds 117,743 shares, representing 0.4% of CBL common stock. Ramat Securities Ltd.’s 130,092 shares also represent 0.4% of the class. The Howard Amster 2021 Charitable Remainder Unitrust #3 holds 204,307 shares. Pleasant Lake Apartments Corp owns 177 shares. The Howard Amster 2022 Charitable Remainder Unitrust #1 holds 35,841 shares, while the Howard Amster Foundation’s 4,178 shares represent 0.0% of the class. The Howard Amster 2005 Charitable Remainder Unitrust holds 159,772 shares, equal to 0.5%. NewAx Inc.’s 4,150 shares represent 0.0% of CBL common stock. The reported ownership structure assigns Amster sole or shared voting and dispositive power across the listed positions.

Open-Market Sales Listed

The amendment lists transactions by Amster during the period covered through August 27, 2026. Every transaction listed was a sale conducted on the open market. The ownership table identifies the sellers as Howard Amster. Signatures from Howard Amster and the related reporting persons were dated August 28, 2026. The signatories included Amster in roles such as president, trustee, general partner, managing member, majority owner, authorized representative and director.

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