James Dahl adds 7,000 AMREP (AXR) shares in open-market buys

Rhea-AI Filing Summary

AMREP CORP. major shareholder James H. Dahl reported open-market purchases of a total of 7,000 common shares of AXR. He bought 5,000 shares on February 26, 2026 at a weighted average price of about $25.67 per share, and 876 and 1,124 shares on February 27, 2026 at weighted average prices of $25.65 and $26.23 per share, respectively. After these transactions, Dahl directly owned 467,198 common shares. The filing also lists additional indirect holdings in IRA accounts and a family foundation, plus shares held by Rainey E. Lancaster, who is reported as part of a group with Dahl under Section 13(d).

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

DAHL JAMES H

(Last) (First) (Middle)

4314 PABLO OAKS COURT

(Street)

JACKSONVILLE FL 32224

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
AMREP CORP. [ AXR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/26/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

	Form filed by One Reporting Person
X	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares	02/26/2026		P		5,000	A	$25.6711(1)	465,198	D(2)
Common Shares	02/27/2026		P		876	A	$25.6533(3)	466,074	D(2)
Common Shares	02/27/2026		P		1,124	A	$26.2342(4)	467,198	D(2)
Common Shares								229,151	I	IRA Accounts(5)
Common Shares								94,120	I	Trust(6)
Common Shares								173,750	D(7)

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

1. Name and Address of Reporting Person^*

DAHL JAMES H

(Last) (First) (Middle)

4314 PABLO OAKS COURT

(Street)

JACKSONVILLE FL 32224

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

1. Name and Address of Reporting Person^*

Lancaster Rainey E.

(Last) (First) (Middle)

C/O JAMES H. DAHL

4314 PABLO OAKS COURT

(Street)

JACKSONVILLE FL 32224

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

Explanation of Responses:

1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $25.65 to $26.00 per share.

2. The shares are held by James H. Dahl.

3. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.93 to $ 25.82 per share.

4. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $26.00 to $26.3899 per share.

5. The shares are held in two IRA accounts as follows: 204,151 shares held by the ROTH Conversion Account and 25,000 shares held by the IRA Account.

6. The shares are held by Dahl Family Foundation, Inc. Neither James H. Dahl nor any member of his family have any pecuniary interest in shares held by Dahl Family Foundation, Inc.

7. The shares are held by Rainey E. Lancaster who is a member of a group with James H. Dahl for purposes of Section 13(d) of the Exchange Act.

	/s/ Ivan A. Colao, Attorney-in-Fact for James H. Dahl	02/27/2026
	/s/ Ivan A. Colao, Attorney-in-Fact for Rainey E. Lancaster	02/27/2026
	** Signature of Reporting Person	Date
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FAQ

What insider purchases did James H. Dahl report for AMREP CORP. (AXR)?

James H. Dahl reported buying a total of 7,000 AMREP CORP. common shares in open-market transactions. The purchases occurred on February 26 and 27, 2026, at weighted average prices between about $25.65 and $26.23 per share, increasing his directly held stake to 467,198 shares.

On what dates did the AXR insider share purchases take place?

The reported AMREP CORP. insider share purchases took place on February 26 and February 27, 2026. On February 26, 5,000 shares were bought, followed by two additional trades totaling 2,000 shares on February 27, all executed as open-market purchases of common shares.

What prices were paid for the recently purchased AMREP CORP. (AXR) shares?

The insider purchases of AMREP CORP. common shares used weighted average prices. Reported averages were about $25.67 per share for 5,000 shares, $25.65 per share for 876 shares, and $26.23 per share for 1,124 shares, with each trade executed as open-market purchases.

How many AMREP CORP. shares does James H. Dahl own after these transactions?

After the reported purchases, James H. Dahl directly owns 467,198 AMREP CORP. common shares. The filing also notes additional indirect holdings through IRA accounts and a family foundation, as well as shares held by Rainey E. Lancaster, who is part of a group with Dahl under Section 13(d).

Were indirect or group holdings disclosed alongside AXR insider purchases?

Yes. The filing discloses 229,151 AMREP CORP. shares held in two IRA accounts and 94,120 shares held by Dahl Family Foundation, Inc. It also notes shares held by Rainey E. Lancaster, described as a member of a group with James H. Dahl for Section 13(d) purposes.