X0202 SCHEDULE 13D/A 0000904853 XXXXXXXX LIVE 2 COMMON STOCK PAR VALUE $0.001 PER SHARE 08/27/2026 false 0000910612 124830878 CBL & ASSOCIATES PROPERTIES INC

2030 HAMILTON PLACE BVLD, SUITE 500 CBL CENTER CHATTANOOGA TN 37421

HOWARD AMSTER 2165951047 521 35TH ST WEST PALM BEACH FL 33407 0000904853 N Amster Howard a PF N X1 1376435.00 1030032.00 1376435.00 1030032.00 2406467.00 N 7.8 IN *Mr. Amster is deemed to be the beneficial owner of (i) 1,376,435 shares that are owned directly by Mr. Amster: (ii) 377,366 shares that are owned by Pleasant Lake Corp, Pleasant Lake Apts. Limited Partnership, and Laughlin Holdings, all joint filers, over which Mr. Amster has sole voting and dispositive power; (iii) 414,085 shares that are owned in the aggregate by the trusts jointly filing herewith, over which, as trustee, Mr. Amster has sole voting and dispositive power; (iv) the 4,178 shares that are owned by the Howard M. Amster Foundation over which, Mr. Amster, as President, has sole voting and dispositive power; (v) 5,826 shares that are owned by Amster Limited Partnership, which Mr. Amster, as General Partner has sole voting and dispositive power,(vi) 130,092 shares that are owned by Ramat Securities Ltd. which Mr. Amster, as authorized representative and majority member, has shared voting and diSpositive power, (vii) 4,150 shares owned by NewAx Inc., which Mr. Amster, as a Director, has shared voting and dispositive power, and (viii) 94,335 shares held by Pleasant Lake-Skoien Investments LLC, which Mr. Amster, as President of Pleasant Lake Apartments Corp, the General Partner of Pleasant Lake Apartments LP, which is the Managing Member of Pleasant Lake Skoien LLC, has shared voting and dispositive power. **Denominator is based on the 30,942,757 shares of common stock outstanding as of August 3, 2026 as reported by the Issuer on Form 10-Q filed with the Securities and Exchange Commission on August 7, 2026. Y PLEASANT LAKE SKOIEN INVESTMENTS LLC a WC N OH 0.00 94335.00 0.00 94335.00 94335.00 N 0.3 PN *See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page. Y PLEASANT LAKE APARTMENTS LIMITED PARTNERSHIP a WC N OH 0.00 257446.00 0.00 257446.00 257446.00 N 0.8 PN *See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page. Y HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 05/20/2019 a WC N OH 0.00 13865.00 0.00 13865.00 13865.00 N 0.0 OO *See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page. Y HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #7 U/A DTD 05/20/2019 a WC N OH 0.00 64.00 0.00 64.00 64.00 N 0.0 OO *See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page. Y AMSTER LIMITED PARTNERSHIP a WC N OH 0.00 5826.00 0.00 5826.00 5826.00 N 0.0 PN *See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page. Y HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 08/10/2021 a WC N OH 0.00 236.00 0.00 236.00 236.00 N 0.0 OO *See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page. Y LAUGHLIN HOLDINGS LLC a WC N DE 0.00 117743.00 0.00 117743.00 117743.00 N 0.4 PN *See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page. Y RAMAT SECURITIES LTD a WC N OH 0.00 130092.00 0.00 130092.00 130092.00 N 0.4 PN *See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page. Y HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #3 U/A DTD 11/23/2021 a WC N OH 0.00 204307.00 0.00 204307.00 204307.00 N OO *See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page. Y PLEASANT LAKE APARTMENTS CORP a WC N OH 0.00 177.00 0.00 177.00 177.00 N 0.0 CO *See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page. Y HOWARD AMSTER 2022 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 03/09/2022 a WC N OH 0.00 35841.00 0.00 35841.00 35841.00 N 0.1 OO *See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page. Y HOWARD AMSTER FOUNDATION a WC N OH 0.00 4178.00 0.00 4178.00 4178.00 N 0.0 OO CO *See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page. Y HOWARD AMSTER 2005 CHARITABLE REMAINDER UNITRUST U/A DTD 01/11/2005 a WC N OH 0.00 159772.00 0.00 159772.00 159772.00 N 0.5 OO *See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page. Y NEWAX INC. a WC N DE 0.00 4150.00 0.00 4150.00 4150.00 N 0.0 CO *See footnote * to Mr. Amsters cover page. **See footnote ** to Mr. Amsters cover page. COMMON STOCK PAR VALUE $0.001 PER SHARE CBL & ASSOCIATES PROPERTIES INC 2030 HAMILTON PLACE BVLD, SUITE 500 CBL CENTER CHATTANOOGA TN 37421 This Amendment No, 2 to Schedule 13D (this Amendment No. 2) amends the Reporting Persons initial Schedule 13D filed on March 14, 2023 (the Initial Schedule 13D), and Amendment 1 filed October 22, 2024 with respect to the shares of CBL & Associates Inc. Common Stock (the Common Stock), a Delaware corporation (the Issuer). Except as specifically amended by this Amendment No. 2 and noted in the paragraph below, the Schedule 13D remains unchanged. Unless otherwise indicated, each capitalized term used but not specifically defined herein shall have the meaning ascribed to such term in the Initial Schedule 13D. (a) See Items 11 and 13 of the cover pages of this Schedule 13D, as amended , which Items are incorporated herein by reference, for the aggregate number of shares and percentage of the Common Stock identified pursuant to Item 1 beneficially owned by each of the Reporting Persons. (b) See Items 7, 8, 9, and 10 of the cover pages to this Schedule 13D, which Items are incorporated herein by reference, for the aggregate number of shares of the Common Stock beneficially owned by each of the Reporting Persons as to which there is sole or shared power to vote or direct the vote and sole or shared power to dispose or to direct the disposition of such shares of the Common Stock. (c) The following table sets forth all transactions with respect to shares of the Common Stock effected during the past sixty (60) days by any of the Reporting Persons, inclusive of any transactions effected through 5:00 p.m., New York City time, on August 27, 2026. All transactions were sales and were conducted on the open market. If the shares were purchased in multiple transactions on a single trading day, the price per share reported is the weighted average price. Trade Date Shares Sold Seller Price Per Share High Low 06/30/26 10,500 Howard Amster 52.85 52.86 52.81 07/06/26 25,900 Howard Amster 53.51 53.68 53.09 07/07/26 42,500 Howard Amster 53.71 54.20 53.20* 07/08/26 8,000 Howard Amster 53.24 53.55 53.00 07/09/26 22,200 Howard Amster 52.35 52.55 52.30 07/10/26 500 Howard Amster 52.10 52.10 52.10 07/13/26 19,150 Howard Amster 52.19 52.65 51.66 07/14/26 15,000 Howard Amster 52.08 52.12 52.00 07/15/26 1,400 Howard Amster 52.71 52.71 52.71 07/16/26 6,600 Howard Amster 53.92 54.00 53.60 07/20/26 24,000 Howard Amster 55.07 55.20 54.79 07/21/26 2,700 Howard Amster 55.20 55.30 55.08 07/22/26 23,400 Howard Amster 55.85 56.14 55.66 07/23/26 4,600 Howard Amster 56.56 56.72 56.00 07/24/26 10,000 Howard Amster 57.02 57.17 56.15* 07/31/26 43,000 Howard Amster 58.32 58.82 58.05 08/25/26 12,000 Howard Amster 55.75 55.88 55.82 08/26/26 17,000 Howard Amster 55.43 55.60 55.34 08/27/26 2,500 Howard Amster 54.89 54.90 55.87 *Filer will furnish the Commission (upon request) with full details of number of shares sold at each separate price (d) Other than the Reporting Persons, no other person is known by the Reporting Persons to have the right to receive or direct the receipt of dividends from, or the proceeds from the sale of the shares of the shares of the CBL Common Stock of the Issuer beneficially owned by the reporting persons (e) Not Applicable. (SIGNATURE PAGE FOLLOWS) Amster Howard HOWARD AMSTER 08/28/2026 PLEASANT LAKE SKOIEN INVESTMENTS LLC HOWARD AMSTER 08/28/2026 PLEASANT LAKE APARTMENTS LIMITED PARTNERSHIP HOWARD AMSTER 08/28/2026 HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 05/20/2019 HOWARD AMSTER 08/28/2026 HOWARD AMSTER 2019 CHARITABLE REMAINDER UNITRUST #7 U/A DTD 05/20/2019 HOWARD AMSTER 08/28/2026 AMSTER LIMITED PARTNERSHIP HOWARD AMSTER 08/28/2026 HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 08/10/2021 HOWARD AMSTER 08/28/2026 LAUGHLIN HOLDINGS LLC HOWARD AMSTER 08/28/2026 RAMAT SECURITIES LTD HOWARD AMSTER 08/28/2026 HOWARD AMSTER 2021 CHARITABLE REMAINDER UNITRUST #3 U/A DTD 11/23/2021 HOWARD AMSTER 08/28/2026 PLEASANT LAKE APARTMENTS CORP HOWARD AMSTER 08/28/2026 HOWARD AMSTER 2022 CHARITABLE REMAINDER UNITRUST #1 U/A DTD 03/09/2022 HOWARD AMSTER 08/28/2026 HOWARD AMSTER FOUNDATION HOWARD AMSTER 08/28/2026 HOWARD AMSTER 2005 CHARITABLE REMAINDER UNITRUST U/A DTD 01/11/2005 HOWARD AMSTER 08/28/2026 NEWAX INC. HOWARD AMSTER 08/28/2026