POSNER HENRY III 4/A

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.