AMREP Corp. (AXR) director receives 1,595 deferred stock units in equity grant

Rhea-AI Filing Summary

AMREP Corp. director reports new deferred stock unit grant. On 12/31/2025, a director of AMREP Corp. (AXR) was awarded 1,595 deferred stock units at an exercise price of $0 per unit. These units vest immediately upon grant and each unit represents the right to receive one share of AMREP common stock.

The shares underlying the units will be delivered in stock within 30 days after the first day of the month following the director’s termination of service on the board. After this grant, the director beneficially owns 23,195.63 derivative securities in the form of deferred stock units, held directly.

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

OMB APPROVAL

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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^*

ROBOTTI ROBERT

(Last) (First) (Middle)

125 PARK AVENUE

SUITE 1607

(Street)

NEW YORK NY 10017

(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)

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

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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

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

X	Form filed by One Reporting Person
	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

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
Deferred Stock Units	$0(1)	12/31/2025		A		1,595		(1)	(1)	Common Stock, $.10 par value	1,595	$0	23,195.63	D

Explanation of Responses:

1. These deferred stock units vest immediately upon grant. Each deferred stock unit represents the right to receive one share of the Issuer's common stock, which will be distributed within 30 days after the first day of the month to follow the grantee's termination of service as a director of the Issuer.

	/s/ Robert E. Robotti	01/02/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did AMREP Corp. (AXR) report in this Form 4?

A director of AMREP Corp. (AXR) reported receiving 1,595 deferred stock units on 12/31/2025 at an exercise price of $0 per unit.

What are the terms of the deferred stock units granted to the AMREP (AXR) director?

The deferred stock units vest immediately. Each unit entitles the director to receive one share of AMREP common stock, distributed within 30 days after the first day of the month following termination of service as a director.

How many AMREP (AXR) deferred stock units does the director own after this transaction?

Following the reported grant, the director beneficially owns 23,195.63 derivative securities, consisting of deferred stock units held directly.

Does this AMREP (AXR) Form 4 involve cash paid for the deferred stock units?

No cash was paid for this grant; the conversion or exercise price of the deferred stock units is listed as $0.

When will the AMREP (AXR) director receive shares underlying the deferred stock units?

Shares will be delivered within 30 days after the first day of the month that follows the director’s termination of service on AMREP’s board.