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  4. [Form 4] AMREP CORP. Insider Trading Activity

AMREP insider Dahl buys 4,358 AXR shares

AMREP CORP. insider activity: Group member and 10% owner James H. Dahl reported two open-market purchases of AMREP common shares on February 12, 2026.

Filing Impact
(Moderate)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

AMREP CORP. insider activity: Group member and 10% owner James H. Dahl reported two open-market purchases of AMREP common shares on February 12, 2026. He bought 3,960 shares at a weighted average price of $23.6448 and 398 shares at a weighted average price of $24.3248, bringing his directly held position to 448,056 common shares.

Dahl is also reported as having indirect beneficial ownership of 229,151 common shares through IRA accounts and 94,120 common shares held by Dahl Family Foundation, Inc., where he and his family have no pecuniary interest. Co-reporting 10% owner Rainey E. Lancaster is shown with 173,750 common shares held directly as part of the same group.

Positive

  • None.

Negative

  • None.
Insider DAHL JAMES H, Lancaster Rainey E.
Role 10% Owner | 10% Owner
Bought 4,358 shs ($103K)
Type Security Shares Price Value
Purchase Common Shares 3,960 $23.6448 $94K
Purchase Common Shares 398 $24.3248 $10K
holding Common Shares -- -- --
holding Common Shares -- -- --
holding Common Shares -- -- --
Holdings After Transaction: Common Shares — 621,806 shares (Direct); Common Shares — 229,151 shares (Indirect, IRA Accounts); Common Shares — 94,120 shares (Indirect, Trust)
Footnotes (6)
  1. F1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $23.175 to $24.00 per share.
  2. F2. The shares are held by James H. Dahl.
  3. F3. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.2999 to $24.35 per share.
  4. F4. 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.
  5. F5. 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.
  6. F6. 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.

FAQ

What insider transaction did James H. Dahl report for AMREP CORP. (AXR)?
James H. Dahl reported buying AMREP CORP. common shares in the open market. On February 12, 2026, he purchased 3,960 shares at $23.6448 and 398 shares at $24.3248, both on a weighted-average basis, increasing his directly held position in the company.

How many AMREP CORP. (AXR) shares does James H. Dahl hold after this Form 4?
After the reported transactions, James H. Dahl directly holds 448,056 AMREP CORP. common shares. The filing also shows 229,151 shares held indirectly through IRA accounts and 94,120 shares held by Dahl Family Foundation, Inc., with no pecuniary interest for Dahl or his family.

At what prices did James H. Dahl buy AMREP CORP. (AXR) shares?
James H. Dahl’s purchases were reported at weighted-average prices. He acquired 3,960 AMREP CORP. common shares at $23.6448 and 398 shares at $24.3248 per share, with each block consisting of multiple trades within disclosed price ranges on February 12, 2026.

What indirect AMREP CORP. (AXR) holdings are associated with James H. Dahl?
Indirectly, 229,151 AMREP CORP. shares are held in two IRA accounts, including a ROTH conversion account and an IRA account. Additionally, 94,120 shares are held by Dahl Family Foundation, Inc., where neither Dahl nor his family has any pecuniary interest in those shares.

Who is Rainey E. Lancaster in relation to AMREP CORP. (AXR) and this Form 4?
Rainey E. Lancaster is a 10% owner of AMREP CORP. and a member of a group with James H. Dahl for Section 13(d) purposes. The filing shows Lancaster directly holding 173,750 AMREP CORP. common shares, reported alongside Dahl’s holdings and purchases.

Were the AMREP CORP. (AXR) insider trades open-market purchases?
Yes. The reported insider trades are coded as open-market purchases. James H. Dahl bought AMREP CORP. common shares under transaction code “P,” which indicates purchases in open market or private transactions, at specified weighted-average prices on February 12, 2026.

AI-generated analysis. How Rhea-AI works. Not financial advice.

Form 4 Insider Transactions: What Each Field Means →
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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
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
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)
02/12/2026
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 02/12/2026 P 3,960 A $23.6448(1) 447,658 D(2)
Common Shares 02/12/2026 P 398 A $24.3248(3) 448,056 D(2)
Common Shares 229,151 I IRA Accounts(4)
Common Shares 94,120 I Trust(5)
Common Shares 173,750 D(6)
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 $23.175 to $24.00 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 $24.2999 to $24.35 per share.
4. 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.
5. 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.
6. 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 02/13/2026
/s/ Ivan A. Colao, Attorney-in-Fact for Rainey E. Lancaster 02/13/2026
** 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.

Source: View Original Filing on SEC EDGAR