DAHL JAMES H 4

What Happened James H. Dahl, a reported 10% owner of AMREP Corp. (AXR), purchased a total of 4,358 shares in open-market transactions on February 12, 2026. The filing shows two purchases: 3,960 shares at a weighted average price of $23.64 (reported value $93,633) and 398 shares at a weighted average price of $24.32 (reported value $9,681), for a combined cash outlay of about $103,314. These were outright purchases (transaction code P), which are generally seen as a direct buy of company stock.

Key Details

• Transaction date: 2026-02-12 (reported on Form 4 filed 2026-02-13) — filing appears timely.
• Trades: 3,960 shares @ $23.64 (reported $93,633) and 398 shares @ $24.32 (reported $9,681); total 4,358 shares for ~$103,314.
• Price notes: F1 & F3 indicate the reported prices are weighted averages from multiple executions (ranges $23.175–$24.00 and $24.2999–$24.35).
• Holdings notes: F2 indicates shares are held by James H. Dahl. F4 shows certain shares are held in two IRA accounts (204,151 in a ROTH Conversion Account and 25,000 in an IRA). F5 notes Dahl Family Foundation, Inc. holds shares (Dahl/family have no pecuniary interest in those). F6 notes Rainey E. Lancaster is in a Section 13(d) group with Dahl.
• Shares owned after the transactions are not specified in the excerpt provided.

Context

• These are straightforward open-market purchases by a 10% owner (an ownership-level insider rather than a routine executive compensation sale). Purchases can be interpreted as a direct vote of confidence by the buyer, but they do not by themselves explain motive.
• Transaction code P = Purchase. No options, awards, gifts, or tax-withholding events are reported in this filing excerpt.