DAHL JAMES H 4

What Happened
James H. Dahl, a reported 10% owner of AMREP Corp. (AXR), acquired 3,075 shares on 2026-06-22 in an open-market/private purchase (transaction code P). The filing reports a weighted-average price of $25.58 per share for a total transaction value of $78,667. This transaction is an outright purchase (acquisition).

Key Details

• Transaction date: 2026-06-22; filing date: 2026-06-24 (filed timely).
• Shares purchased: 3,075 at a weighted-average price of $25.58; price range across trades: $25.13–$26.00 (Footnote F1).
• Shares owned after transaction: Not explicitly stated in the filing summary provided.
• Notable footnotes:
  • F2: Shares are held by James H. Dahl.
  • F3: Certain shares are held in two IRA accounts (204,151 shares in a ROTH Conversion Account; 25,000 shares in an IRA Account).
  • F4: Separate shares are held by Dahl Family Foundation, Inc.; neither Dahl nor family members have a pecuniary interest in the Foundation’s shares.
  • F5: Some shares are held by Rainey E. Lancaster, who is in a Section 13(d) group with Dahl.
• Transaction type: P = Purchase (open market or private purchase).

Context
As a 10% owner, Dahl is a significant shareholder (not necessarily a company executive). Purchases by large shareholders can indicate personal investment but are not proof of company performance; filings are factual records of transactions rather than statements of intent. This Form 4 was filed within normal timing (two business days), so no late-filing implication is indicated.