POSNER HENRY III 4/A
4/A · Power REIT · Filed Feb 10, 2026
Research Summary
AI-generated summary of this filing
Power REIT (PW) 10% Owner Henry Posner Buys Shares
What Happened
- Henry Posner III, a reported 10% owner of Power REIT (ticker: PW), acquired a total of 4,797 shares in open-market purchases: 3,300 shares at $7.10 on January 14, 2026 (≈ $23,429) and 1,497 shares at an average price of $7.75 on January 15, 2026 (≈ $11,596). These were purchases (buying shares), which are generally considered more informative to investors than routine sales.
Key Details
- Transaction dates & prices:
- 2026-01-14: 3,300 shares @ $7.10 (total reported $23,429)
- 2026-01-15: 1,497 shares @ $7.75 (weighted average; total reported $11,596; individual trades priced between $7.70–$7.75)
- Total shares acquired: 4,797; total cash paid ≈ $35,025.
- Shares owned after transaction: not stated in the provided excerpt of the filing.
- Filing status: This is an amended Form 4; amendment adds footnotes explaining conversion features of the Series A preferred stock.
- Notable footnotes:
- Series A preferred (PW.A) is convertible into common only upon certain events (e.g., Change of Control or Delisting) and only if the issuer hasn’t elected to redeem.
- Conversion ratio uses a formula based on $25 plus accrued dividends divided by change-of-control consideration (or average market price) and is capped at 5 shares per preferred share.
- The 1,497-share price is a weighted average across multiple trades (range $7.70–$7.75); the filer will provide a breakdown on request.
Context
- As a reported 10% owner, Posner is a significant shareholder; his purchases increase his stake and are a straightforward buy (not option exercise, gift, or award).
- The amendment focuses on disclosure about preferred-share conversion mechanics rather than changing the reported purchases. There’s no indication in the provided data that the filing was late.
Insider Transaction Report
Form 4/AAmended
POSNER HENRY III
10% Owner
Transactions
- Purchase
7.75% Series A Cum. Red. Perpetual Preferred Stock
[F1][F2][F3]2026-01-14$7.10/sh+3,300$23,429→ 3,300 total - Purchase
7.75% Series A Cum. Red. Perpetual Preferred Stock
[F4]2026-01-15$7.75/sh+1,497$11,596→ 4,797 total
Footnotes (4)
- [F1]The 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock Liquidation Preference $25 per Share ("Series A Preferred Stock") may be convertible into shares of the common stock of Power REIT (the "Issuer") only upon the occurrence of certain material events outside the control of the reporting person, including a "Change of Control" and a "Delisting Event" (each as defined in the Series A Preferred Stock Articles Supplementary), provided that the Issuer has not earlier delivered notice of the Issuer's election to redeem such shares of Series A Preferred Stock.
- [F2]If it becomes convertible as noted in footnote (1), one share of Series A Preferred Stock may be converted into a number of shares of common stock equal to the lesser of: (i) the quotient obtained by dividing the sum of $25 plus any accrued and unpaid dividends by (x) the cash consideration per share of common stock received in the Change of Control if cash is the sole consideration received or (y) the average of the closing price per share of common stock on the 10 consecutive trading days immediately preceding the effective date of the Change of Control (if any consideration other than cash is received by holders of common stock) or the effective date of the Delisting Event, as applicable; or (ii) 5. The trading symbol for the Series A Preferred Stock is PW.A.
- [F3]This amendment has been filed to include footnotes (1) and (2) explaining the conversion feature of the Series A Preferred Stock. The reporting person's Form 4 reports filed on 01/16/2026, 01/30/2026 and 02/04/2026 did not include footnotes (1) and (2).
- [F4]The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $7.70 to $7.75, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the range set forth herein.
Signature
/s/ Briar McNutt as Attorney-in-Fact for Henry Posner III|2026-02-10