AMREP (NYSE: AXR) awards CEO $178k bonus and lifts top salaries

Rhea-AI Filing Summary

AMREP Corporation adjusted executive compensation for its top officers. On July 13, 2026, the company awarded Christopher V. Vitale, President and CEO, a $178,000 cash bonus and 8,700 restricted shares of common stock under the AMREP Corporation 2016 Equity Compensation Plan, vesting in three equal installments of 2,900 shares on July 13 of 2027, 2028 and 2029, subject to his continued employment on each vesting date.

Adrienne M. Uleau, Chief Financial Officer and Vice President, received a $64,000 cash bonus and 2,250 restricted shares, vesting in three equal tranches of 750 shares on July 13 of 2027, 2028 and 2029, also contingent on continued employment. The company also approved base salary increases effective July 27, 2026, setting Mr. Vitale’s salary at $395,000 and Ms. Uleau’s salary at $205,000.

8-K Event Classification

Item 5.02 — Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers

1 item

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers Governance

Key personnel changes including departures, elections, or appointments of directors and executive officers.

Key Figures

CEO cash bonus: $178,000 CEO restricted shares: 8,700 shares CFO cash bonus: $64,000 +5 more

8 metrics

CEO cash bonus $178,000 Cash bonus awarded to President and CEO Christopher V. Vitale on July 13, 2026

CEO restricted shares 8,700 shares Restricted shares of common stock granted to CEO, vesting 2027-2029

CFO cash bonus $64,000 Cash bonus awarded to CFO and Vice President Adrienne M. Uleau on July 13, 2026

CFO restricted shares 2,250 shares Restricted shares of common stock granted to CFO, vesting 2027-2029

CEO base salary $395,000 Annual base salary for CEO effective as of July 27, 2026

CFO base salary $205,000 Annual base salary for CFO effective as of July 27, 2026

CEO vesting tranches 2,900 shares per year CEO restricted stock vests in three installments on July 13, 2027, 2028, 2029

CFO vesting tranches 750 shares per year CFO restricted stock vests in three installments on July 13, 2027, 2028, 2029

Key Terms

restricted shares of common stock, Equity Compensation Plan, vesting, continued employment

4 terms

restricted shares of common stock financial

"a $178,000 cash bonus and 8,700 restricted shares of common stock of the Company"

Restricted shares of common stock are company shares that cannot be sold or transferred until specific conditions are met, such as a set time period, performance targets, or regulatory approvals; they are often granted to founders, employees or early investors. They matter to investors because when the restrictions lift those shares can enter the market and increase the supply, potentially diluting existing holders and changing the stock’s price, similar to a locked faucet being opened and more water joining the flow.

Equity Compensation Plan financial

"under the AMREP Corporation 2016 Equity Compensation Plan that vest as follows"

A plan by which a company gives employees, directors or contractors ownership or the right to buy ownership in the company through stock, options or similar awards — think of promising slices of the company pie as part of someone's pay. It matters to investors because these awards can change the number of shares outstanding, affect reported profits and influence management’s decisions; large or generous plans can dilute existing holders and alter incentives over time.

vesting financial

"restricted shares of common stock of the Company under the AMREP Corporation 2016 Equity Compensation Plan that vest as follows"

Vesting is the process by which you earn full ownership of something, like company stock or a retirement benefit, over time. It’s like earning the right to keep a gift piece by piece the longer you stay with a company, making sure employees stay committed before they receive all the benefits.

continued employment financial

"subject to the continued employment of Mr. Vitale on each vesting date"

Continued employment means that an individual remains in their current job without interruption. For investors, it signals stability and ongoing work that can affect company performance and future prospects. Like a steady heartbeat for a business, sustained employment helps ensure consistent operations and financial health.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google Not now

Understanding 8-K Material Events →

Available on EDGAR 07/14/2026 - 04:31 PM Accepted by SEC EDGAR 07/14/2026 - 04:30 PM Learn about SEC filing dates

FAQ

What executive bonuses did AMREP (AXR) grant on July 13, 2026?

AMREP granted its CEO a $178,000 cash bonus and its CFO a $64,000 cash bonus on July 13, 2026. These awards form part of their overall compensation adjustments alongside restricted stock and salary changes.

How many restricted shares did AMREP (AXR) award to its CEO and CFO?

The CEO received 8,700 restricted shares and the CFO received 2,250 restricted shares. These vest in three equal annual installments from July 13, 2027 through July 13, 2029, contingent on each executive’s continued employment.

What are the new base salaries for AMREP (AXR) CEO and CFO?

Effective July 27, 2026, AMREP set the CEO’s base salary at $395,000 and the CFO’s at $205,000. These salary changes accompany one-time cash bonuses and multi-year restricted stock awards granted earlier in July 2026.

How do the AMREP (AXR) restricted stock awards vest for executives?

Both executives’ restricted shares vest in three equal annual installments on July 13, 2027, 2028 and 2029. Vesting is expressly conditioned on the respective executive’s continued employment with AMREP on each scheduled vesting date.

Under which plan were AMREP (AXR) executive stock awards granted?

The restricted shares granted to the CEO and CFO were issued under the AMREP Corporation 2016 Equity Compensation Plan. This plan governs equity-based awards, including the multi-year restricted stock grants described for the two senior officers.

false 0000006207 0000006207 2026-07-13 2026-07-13 iso4217:USD xbrli:shares iso4217:USD xbrli:shares

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported):            July 13, 2026             

AMREP CORPORATION

(Exact name of registrant as specified in its charter)

Oklahoma	1-4702	59-0936128
(State or other jurisdiction of	(Commission File	(IRS Employer
incorporation)	Number)	Identification No.)

850 West Chester Pike, Suite 205, Havertown, PA	19083
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code:  (610) 487-0905

(Former name or former address, if changed since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

¨ Written communication pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communication pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communication pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock $.10 par value	AXR	New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ¨

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

On July 13, 2026, the Company awarded (a) Christopher V. Vitale, President and Chief Executive Officer of the Company, a $178,000 cash bonus and 8,700 restricted shares of common stock of the Company under the AMREP Corporation 2016 Equity Compensation Plan that vest as follows: 2,900 shares on July 13, 2027, 2,900 shares on July 13, 2028 and 2,900 shares on July 13, 2029, subject to the continued employment of Mr. Vitale on each vesting date and (b) Adrienne M. Uleau, Chief Financial Officer and Vice President of the Company, a $64,000 cash bonus and 2,250 restricted shares of common stock of the Company under the AMREP Corporation 2016 Equity Compensation Plan that vest as follows: 750 shares on July 13, 2027, 750 shares on July 13, 2028 and 750 shares on July 13, 2029, subject to the continued employment of Ms. Uleau on each vesting date. On July 13, 2026, the Company approved a change in salary to $395,000 for Mr. Vitale and to $205,000 for Ms. Uleau effective as of July 27, 2026.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	AMREP Corporation
Date: July 14, 2026	By:	/s/ Christopher V. Vitale
		Name:	Christopher V. Vitale
		Title:	President and Chief Executive Officer

Filing Exhibits & Attachments

3 documents

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 2.9 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 33.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 21.8 KB