DAHL JAMES H 4

What Happened

• James H. Dahl, a reported 10% owner of AMREP Corp. (AXR), made a series of open-market purchases (transaction code P) totaling 10,842 shares on Feb 17–18, 2026 for an aggregate cash outlay of about $270,898. The four buys were: 4,411 shares at a weighted average $24.53 ($108,193); 2,431 shares at $25.50 ($61,991); 3,212 shares at $25.04 ($80,425); and 788 shares at $25.75 ($20,289). Purchases are purchases of company stock (commonly viewed as a bullish signal, though they do not prove motivation).

Key Details

• Dates and transactions:
  • 2026-02-17: 4,411 sh @ $24.53 (weighted avg; prices in that lot ranged $23.98–$24.95) — $108,193. (F1)
  • 2026-02-17: 2,431 sh @ $25.50 (weighted avg; prices in that lot ranged $25.07–$25.94) — $61,991. (F3)
  • 2026-02-18: 3,212 sh @ $25.04 (weighted avg; prices in that lot ranged $24.29–$25.23) — $80,425. (F4)
  • 2026-02-18: 788 sh @ $25.75 (weighted avg; prices in that lot ranged $25.35–$25.86) — $20,289. (F5)
• Aggregate: 10,842 shares purchased for ~$270,898 across two days.
• Ownership after transaction: not specified in the excerpt provided. Footnotes indicate holdings include shares held in IRA accounts (204,151 in a ROTH Conversion Account and 25,000 in an IRA Account — F6) and other shares held by related entities (Dahl Family Foundation, Inc. — F7) and by Rainey E. Lancaster as a reporting group member (F8). F2 notes some shares are held directly by James H. Dahl.
• Filing: Form 4 was filed Feb 19, 2026 (transactions reported for Feb 17–18). No indication in the provided data that the filing was late.
• Transaction type code: P = Purchase (open-market/private purchase).

Context

• Dahl is a 10% owner (insider category), not necessarily reporting as a company executive; 10% owner purchases are institutional insider activity and can be informative to investors.
• Several footnotes clarify the reported prices are weighted averages because each reported lot was made up of multiple trades at slightly different prices.
• These were outright purchases (not option exercises, gifts, or awards), so they increase Dahl’s economic stake in AMREP.