DAHL JAMES H 4

What Happened
James H. Dahl, a reported 10% owner of AMREP Corp. (AXR), made open-market purchases totaling 7,000 shares on Feb 26–27, 2026. The transactions reported: 5,000 shares at a reported $25.67 (total $128,356), 876 shares at $25.65 (total $22,472), and 1,124 shares at $26.23 (total $29,487). These were purchases (a net buy), which retail investors often view as a more informative signal than routine sales, though purchases by large owners can reflect personal/investment decisions rather than company-specific nonpublic information.

Key Details

• Transaction dates and reported prices: Feb 26, 2026 — 5,000 @ $25.67; Feb 27, 2026 — 876 @ $25.65 and 1,124 @ $26.23. Total consideration ≈ $180,315.
• Reported prices are weighted averages across multiple trades; footnotes show trade price ranges across the purchases roughly from $24.93 to $26.3899.
• Beneficial-holding notes: Footnotes indicate shares held in Dahl’s IRA accounts (204,151 in a ROTH Conversion Account and 25,000 in an IRA). Dahl Family Foundation and Rainey E. Lancaster are also noted in the filing (foundation shares reportedly not of pecuniary interest to Dahl; Lancaster is in a Section 13(d) group with Dahl).
• No late-filing indication provided in the data you supplied.

Context

• As a 10% owner, Dahl is a significant shareholder; purchases reflect substantial-holder activity rather than routine executive compensation transactions. Such buys can be of interest to retail investors but do not, by themselves, reveal the insider’s motivations.