The former Kent State standout has up to two years of eligibility remaining.
Stubblefield served as Penn State's wide receivers coach for three years.
Pinegar will finish his five-year Penn State career as the all-time leader in extra points made.
The junior stepped into a full-time starting role at safety for the Nittany Lions in 2022.
Lee is entering the portal with two years of eligibility remaining.
This is the second consecutive season Parsons has earned the honor.