Were Mink Brook’s DLHC share purchases made directly or indirectly?

The DLH Holdings shares are reported as owned indirectly , held directly by Mink Brook Partners LP. Mink Brook Asset Management LLC is the investment manager and may be deemed to beneficially own the securities through its pecuniary interest in the fund.

Mink Brook adds 14,882 DLH Holdings Corp. (DLHC) shares in July buys

Q: What insider transactions did Mink Brook Asset Management report for DLHC?

Mink Brook Asset Management LLC reported two indirect purchases of DLH Holdings common stock, totaling 14,882 shares , executed on July 2 and July 6, 2026 through Mink Brook Partners LP, as disclosed in the Form 4/A filing.

Q: How many DLHC shares were bought in each transaction reported by Mink Brook?

Mink Brook-related entities purchased 5,460 shares of DLH Holdings on July 2, 2026 and 9,422 shares on July 6, 2026. Both transactions involved indirect ownership through Mink Brook Partners LP, with Mink Brook Asset Management as investment manager.

Q: At what prices were the DLHC shares purchased in Mink Brook’s Form 4/A?

The reported weighted average purchase prices were $5.2477 per share on July 2, 2026 and $5.1881 per share on July 6, 2026, with actual trade prices falling within narrow ranges around those averages.

Q: Were Mink Brook’s DLHC trades under a Rule 10b5-1 trading plan?

The Form 4/A’s Rule 10b5-1 checkbox is not marked as affirming plan trades. The footnotes describe weighted average pricing and ownership structure but do not state that these particular DLH Holdings transactions were executed under a Rule 10b5-1 trading arrangement.

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

4/A

Rhea-AI Filing Summary

Mink Brook Asset Management LLC, a 10% owner of DLH Holdings Corp., reported two indirect purchases of common stock through Mink Brook Partners LP. On July 2, 2026 it bought 5,460 shares at a weighted average price of $5.2477 per share, and on July 6, 2026 it bought 9,422 shares at a weighted average price of $5.1881 per share. Footnotes state the trades occurred across multiple prices within narrow ranges and note that Mink Brook and related entities disclaim beneficial ownership beyond their pecuniary interest.

Insider Trade Summary

Net Buyer: 14,882 shares

Net Buy 2 txns

Insider Mink Brook Asset Management LLC

Role 10% Owner

Bought 14,882 shs ($78K)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.001 per share ("Common Stock") ^{F5, F1, F3, F4}	9,422	$5.1881	$49K
Purchase	Common Stock, par value $0.001 per share ("Common Stock") ^{F1, F2, F3, F4}	5,460	$5.2477	$29K

Holdings After Transaction: Common Stock, par value $0.001 per share ("Common Stock") — 2,136,618 shares (Indirect, By Mink Brook Partners LP)

Footnotes (5)

F1. The shares were corrected to amend a mathematical error.
F2. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.21 to $5.25 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares bought at each price.
F3. Mink Brook Asset Management LLC, and the general partner for both funds, Mink Brook Capital GP LLC, disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Mink Brook Asset Management LLC, Mink Brook Capital GP LLC or William Mueller as managing member of both, is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.
F4. Represents securities owned directly by Mink Brook Partners LP (the "Fund"). As the investment manager of the Fund, Mink Brook Asset Management LLC may be deemed to beneficially own the securities owned directly by the Fund.
F5. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.12 to $5.24 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares bought at each price.

Key Figures

Shares purchased 2026-07-02: 5,460 shares Price 2026-07-02: $5.2477 per share Shares purchased 2026-07-06: 9,422 shares +4 more

7 metrics

Shares purchased 2026-07-02 5,460 shares Indirect purchase of common stock on July 2, 2026

Price 2026-07-02 $5.2477 per share Weighted average purchase price for July 2, 2026 transaction

Shares purchased 2026-07-06 9,422 shares Indirect purchase of common stock on July 6, 2026

Price 2026-07-06 $5.1881 per share Weighted average purchase price for July 6, 2026 transaction

Total shares bought 14,882 shares Aggregate shares acquired across the reported transactions

July 2 price range $5.21 to $5.25 Range of prices for July 2, 2026 purchases

July 6 price range $5.12 to $5.24 Range of prices for July 6, 2026 purchases

Key Terms

weighted average price, beneficial ownership, pecuniary interest, Section 16(a)

4 terms

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.

beneficial ownership regulatory

"disclaims beneficial ownership of the shares reported herein except..."

Beneficial ownership means the person or entity that actually enjoys the benefits of owning shares or other assets — such as receiving dividends, voting rights, or price gains — even if the legal title is held in another name. For investors it matters because knowing who truly controls and profits from a company reveals who can influence decisions, exposes potential conflicts of interest or hidden concentration of power, and affects transparency and risk in the stock.

pecuniary interest financial

"except to the extent of its pecuniary interest therein"

Section 16(a) regulatory

"for purposes of Section 16(a) of the Securities Exchange Act of 1934"

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

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/31/2026 - 06:23 PM Accepted by SEC EDGAR 07/31/2026 - 06:23 PM

FAQ

What insider transactions did Mink Brook Asset Management report for DLHC?

Mink Brook Asset Management LLC reported two indirect purchases of DLH Holdings common stock, totaling 14,882 shares, executed on July 2 and July 6, 2026 through Mink Brook Partners LP, as disclosed in the Form 4/A filing.

How many DLHC shares were bought in each transaction reported by Mink Brook?

Mink Brook-related entities purchased 5,460 shares of DLH Holdings on July 2, 2026 and 9,422 shares on July 6, 2026. Both transactions involved indirect ownership through Mink Brook Partners LP, with Mink Brook Asset Management as investment manager.

At what prices were the DLHC shares purchased in Mink Brook’s Form 4/A?

The reported weighted average purchase prices were $5.2477 per share on July 2, 2026 and $5.1881 per share on July 6, 2026, with actual trade prices falling within narrow ranges around those averages.

Does Mink Brook Asset Management claim full beneficial ownership of the DLHC shares?

No. The filing states Mink Brook Asset Management LLC and related entities disclaim beneficial ownership of the reported shares except to the extent of their pecuniary interest, and clarify this should not be construed as an admission of beneficial ownership under Section 16(a).

Were Mink Brook’s DLHC trades under a Rule 10b5-1 trading plan?

The Form 4/A’s Rule 10b5-1 checkbox is not marked as affirming plan trades. The footnotes describe weighted average pricing and ownership structure but do not state that these particular DLH Holdings transactions were executed under a Rule 10b5-1 trading arrangement.

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^*

Mink Brook Asset Management LLC

(Last)

(First)

(Middle)

201 SUMMA STREET

(Street)

WEST PALM BEACH

FLORIDA

33405

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
DLH Holdings Corp. [ DLHC ]

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)
07/02/2026

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

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

4. If Amendment, Date of Original Filed (Month/Day/Year)
07/06/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $0.001 per share ("Common Stock")	07/02/2026		P		5,460⁽¹⁾	A	$5.2477⁽²⁾	2,127,196⁽¹⁾	I	By Mink Brook Partners LP⁽³⁾⁽⁴⁾
Common Stock, par value $0.001 per share ("Common Stock")	07/06/2026		P		9,422	A	$5.1881⁽⁵⁾	2,136,618⁽¹⁾	I	By Mink Brook Partners LP⁽³⁾⁽⁴⁾

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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. The shares were corrected to amend a mathematical error.

2. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.21 to $5.25 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares bought at each price.

3. Mink Brook Asset Management LLC, and the general partner for both funds, Mink Brook Capital GP LLC, disclaims beneficial ownership of the shares reported herein except to the extent of its pecuniary interest therein, and the filing of this Form 4 shall not be construed as an admission that Mink Brook Asset Management LLC, Mink Brook Capital GP LLC or William Mueller as managing member of both, is the beneficial owner of any such shares for purposes of Section 16(a) of the Securities Exchange Act of 1934, as amended, or for any other purpose.

4. Represents securities owned directly by Mink Brook Partners LP (the "Fund"). As the investment manager of the Fund, Mink Brook Asset Management LLC may be deemed to beneficially own the securities owned directly by the Fund.

5. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $5.12 to $5.24 inclusive. The reporting person undertakes to provide, upon request by the SEC staff, the issuer, or a security holder of the issuer, full information regarding the number of shares bought at each price.

Remarks:

	/s/ William Mueller	07/31/2026
	** 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)

Source: View Original Filing on SEC EDGAR