AMREP 10% owner James Dahl buys 5,000 shares

Rhea-AI Filing Summary

AMREP CORP. 10% owner James H. Dahl reported an open-market purchase of 5,000 common shares at a weighted average price of about $24.50 per share. After this trade, he directly holds 493,133 common shares.

He also has indirect ownership of 229,151 shares through IRA accounts. An additional 94,120 shares are held in a trust described as Dahl Family Foundation, where footnotes state neither Dahl nor his family has any pecuniary interest.

Insider Trade Summary

Net Buyer: 5,000 shares

Net Buy 4 txns

Insider DAHL JAMES H, Lancaster Rainey E.

Role 10% Owner | 10% Owner

Bought 5,000 shs ($122K)

Type	Security	Shares	Price	Value
Purchase	Common Shares	5,000	$24.4982	$122K
holding	Common Shares	--	--	--
holding	Common Shares	--	--	--
holding	Common Shares	--	--	--

Holdings After Transaction: Common Shares — 666,883 shares (Direct); Common Shares — 229,151 shares (Indirect, IRA Accounts); Common Shares — 94,120 shares (Indirect, Trust)

Footnotes (5)

1. F1. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.48 to $24.50 per share.
2. F2. The shares are held by James H. Dahl.
3. F3. 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.
4. F4. 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.
5. F5. 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.

Key Figures

Open-market purchase: 5,000 shares Purchase price: $24.4982 per share Direct holdings after trade: 493,133 shares +2 more

5 metrics

Open-market purchase 5,000 shares Common shares bought on 2026-05-20

Purchase price $24.4982 per share Weighted average price for 5,000-share buy

Direct holdings after trade 493,133 shares Common shares directly held by James H. Dahl

IRA indirect holdings 229,151 shares Shares in two IRA accounts (ROTH Conversion and IRA)

Trust-held shares 94,120 shares Held by Dahl Family Foundation, no pecuniary interest for Dahl

Key Terms

open-market purchase, weighted average price, IRA Accounts, pecuniary interest, +1 more

5 terms

open-market purchase financial

"Purchase in open market or private transaction"

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

weighted average price financial

"The price reported in Column 4 is a weighted average price."

Weighted average price is the average price of a security where each trade or component is counted according to its size, so bigger trades pull the average more than smaller ones. Think of it like calculating the average cost of a grocery haul where items you bought more of have greater influence on the final per-item cost. Investors use it to understand the true average price paid or received, judge execution quality, and compare trading performance against market movement.

IRA Accounts financial

"The shares are held in two IRA accounts as follows:"

An IRA account is a tax-advantaged personal savings account designed to help people invest for retirement; think of it as a special piggy bank that gives you tax breaks to encourage long-term saving. Different IRA types change when you pay taxes and when you can take money out, so they matter to investors because the choice affects your after-tax returns, portfolio decisions, and the timing of withdrawals during retirement.

pecuniary interest financial

"neither James H. Dahl nor any member of his family have any pecuniary interest"

Section 13(d) regulatory

"member of a group with James H. Dahl for purposes of Section 13(d)"

A Section 13(d) filing is a public disclosure required under U.S. securities law when a person or group acquires more than 5% of a company’s registered equity and may influence control. The filer must report who owns the shares, how they were acquired, and any plans or intentions for the company, so the market and other shareholders can see if a large buyer is attempting a takeover or other strategic move. Think of it like a formal announcement that someone has crossed a threshold and is showing their hand.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

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

AMREP CORP. reported that 10% owner James H. Dahl bought 5,000 common shares in an open-market purchase at a weighted average price near $24.50 per share. This increases his disclosed direct holdings in the company’s stock.

At what price did James H. Dahl buy AMREP CORP. (AXR) shares?

James H. Dahl purchased 5,000 AMREP CORP. common shares at a weighted average price of $24.4982 per share. Footnotes note multiple trades between $24.48 and $24.50, which together make up the reported average purchase price.

How many AMREP CORP. (AXR) shares does James H. Dahl now hold directly?

Following the reported transaction, James H. Dahl directly holds 493,133 AMREP CORP. common shares. This figure reflects his position after buying 5,000 shares in the open market at a weighted average price of about $24.50 per share.

What indirect AMREP CORP. (AXR) holdings are reported for James H. Dahl?

The filing shows 229,151 AMREP CORP. shares held in two IRA accounts associated with James H. Dahl. A separate 94,120 shares are held by Dahl Family Foundation, where footnotes state he and his family have no pecuniary interest.

Is the AMREP CORP. (AXR) insider transaction a buy or sell?

The Form 4 reports an open-market purchase by 10% owner James H. Dahl. He bought 5,000 AMREP CORP. common shares, increasing his direct holdings to 493,133 shares according to the totals shown after the transaction.

Who is Rainey E. Lancaster in relation to AMREP CORP. (AXR) shares?

The filing notes that Rainey E. Lancaster is a member of a group with James H. Dahl for Section 13(d) purposes. A footnote states shares are held by Lancaster, but this excerpt does not detail specific transaction amounts for those holdings.

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

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Accepted by SEC EDGAR 05/22/2026 - 04:53 PM EDT Learn about SEC filing dates

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 FLORIDA 32224

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/20/2026

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

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

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

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	05/20/2026		P		5,000	A	$24.4982(1)	493,133	D(2)
Common Shares								229,151	I	IRA Accounts(3)
Common Shares								94,120	I	Trust(4)
Common Shares								173,750	D(5)

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 FLORIDA 32224

(City) (State) (Zip)

UNITED STATES

(Country)

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)

4314 PABLO OAKS COURT

(Street)

JACKSONVILLE FLORIDA 32224

(City) (State) (Zip)

UNITED STATES

(Country)

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 $24.48 to $24.50 per share.

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

3. 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.

4. 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.

5. 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	05/22/2026
	/s/ Ivan A. Colao, Attorney-in-Fact for Rainey E. Lancaster	05/22/2026
	** 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.
* Form 4: SEC 1474 (03-26)