Daily Journal Corp SEC Filings

John Frank, a director of Daily Journal Corp (DJCO), received two grants of restricted stock units that together settled into 65 shares of common stock (21 and 44 shares). The grants vest in two annual installments and are settled in stock (fractional units paid in cash). The filing notes the shares were issued to the director on October 1, 2025 and that a Form 4 should have been filed at grant rather than at settlement; the filing was submitted late by the reporting person.

Mary Murphy Conlin, a director of Daily Journal Corp (DJCO), reported two grants of restricted stock units: 21 RSUs on 05/23/2024 and 44 RSUs on 12/13/2024, for a total of 65 units. Each grant vests in two annual installments on the first and second anniversaries of the grant date and is settled in common stock (fractional units are settled in cash). The shares to settle the vested portion were issued to the director on October 1, 2025. The Form 4 was filed on 10/03/2025 and discloses that the filing is late: the registrant states a Form 4 should have been filed at the time of each grant rather than at settlement, and the filing states the late submission is not due to any error of the reporting person.

The filing is an SEC Form 3 reporting that John Frank became a director of Daily Journal Corp (DJCO) and held 0 shares of the company's common stock as of the event date 02/16/2022. The form notes it "should have been filed when the reporting person became a director" and states the filing is late; the reporting person asserts the late filing "is not due to any error of the reporting person." The form is signed by /s/ John Frank on 10/03/2025. No derivative securities or indirect ownership are reported.

Mary Murphy Conlin, a director of Daily Journal Corp (DJCO), filed an initial Form 3 reporting beneficial ownership of 100 shares of the issuer's common stock. The filing lists the event date as 05/14/2019 and states the reporting person owned 100 shares on 01/20/2021. The Form 3 replaces a prior filing made under a different user code and is signed by the reporting person on 10/03/2025.

The company disclosed that an investment adviser, Buxton Helmsley USA and its CEO Alexander E. Parker, has sent letters alleging Daily Journal improperly expensed software development costs and should instead capitalize them under ASC 985-20. The Audit Committee reviewed the guidance with the company’s accountants and third-party experts and concluded the company correctly accounts for development costs under ASC 950-20 and, where appropriate, ASC 350-40 for internal-use SaaS enhancements. The filing states the company will continue to expense or capitalize costs as required and criticized Mr. Parker for demanding compensation, board seats and making regulatory complaints based on his interpretation.

Daily Journal Corp (DJCO) reported fiscal year-to-date operating revenue of $45.9 million for the nine months ended June 30, 2025, up from $37.6 million in the prior-year period, with $23.0 million recognized upon completion of services and $22.9 million recognized ratably over subscription periods. A second revenue line shows $18.5 million versus $13.1 million year-over-year. The company states ~75% of prior-period revenue derived from software licenses, maintenance and consulting and ~9% of revenue came from foreign operations. Shares outstanding were 1,805,053 (including 427,627 treasury shares) and weighted shares used in EPS calculations were about 1,377,321. The nine-month effective tax rate was 25.9%, which includes taxes on unrealized gains on marketable securities. 4,725 shares remain available for future equity grants of 5,720 authorized.

Schedule 13G/A (Am. 16) for Daily Journal Corp. (DJCO) discloses that RWWM, Inc., a California-based investment adviser, and related parties collectively beneficially own 334,902 DJCO common shares, or 24.31 % of the outstanding class as of 30 Jun 2025.

Break-down of voting and dispositive powers:

• RWWM, Inc.: 0 voting / 334,902 sole dispositive
• RWWM Inc. 401(k) Plan: 7,802 shared voting (0.57 %)
• Scott P. Roseman: 6,130 sole + 7,802 shared voting
• Aaron J. Wagner: 2,519 sole + 7,802 shared voting
• Roseman Wagner Partners, L.P.: 24,986 sole voting & dispositive (1.81 %)

Although RWWM controls disposal of nearly a quarter of DJCO shares, it reports no voting power, indicating holdings are managed on behalf of advisory clients. The signatories certify that the securities are held in the ordinary course of business and not for the purpose of influencing control of the issuer.