DAHL JAMES H 4

What Happened
James H. Dahl, a 10% owner of AMREP Corp. (AXR), made three open-market purchases on March 26, 2026, acquiring a total of 3,000 shares for about $105,211. The transactions reported are: 1,800 shares at a weighted avg $25.44 ($45,784), 300 shares at a weighted avg $26.05 ($7,815), and 1,900 shares at a weighted avg $27.16 ($51,612). These were purchases (P), which are commonly viewed as a more informative signal than routine sales.

Key Details

• Transaction dates: all purchases occurred on 2026-03-26; Form 4 filed 2026-03-27 (filed promptly the next day).
• Trades and values:
  • 1,800 shares @ $25.44 (weighted avg) — $45,784. (F1: actual prices in these trades ranged $24.986–$25.92)
  • 300 shares @ $26.05 (weighted avg) — $7,815. (F3: range $26.01–$26.07)
  • 1,900 shares @ $27.16 (weighted avg) — $51,612. (F4: range $27.04–$27.64)
• Shares held / footnotes:
  • F2: some shares are held directly by James H. Dahl.
  • F5: filing notes 204,151 shares in a ROTH Conversion Account and 25,000 shares in an IRA Account.
  • F6: some shares are held by Dahl Family Foundation, Inc.; the filing states neither Dahl nor family members have a pecuniary interest in those foundation-held shares.
  • F7: Rainey E. Lancaster is reported as a group member with Dahl for Section 13(d) purposes.
• The filing does not provide a single consolidated "shares owned after transaction" total in the provided details.

Context

• Dahl is a 10% owner (not necessarily an executive), so these purchases reflect ownership-level buying rather than routine employee option activity.
• Prices shown are weighted averages; footnotes clarify each block was executed across multiple trades at slightly varying prices.
• No option exercises, gifts, or tax-withholding events are reported in this Form 4 — only open-market purchases.