DLH Holdings: Mink Brook transfers 199,099 shares

The ten percent owner and the funds' general partner disclaim beneficial ownership except to the extent of their pecuniary interests.

Rhea-AI Filing Summary

DLH Holdings Corp. (DLHC) shares were transferred between Mink Brook Partners LP and Mink Brook Opportunity Fund LP in a rebalancing transaction reported by ten percent owner Mink Brook Asset Management LLC on October 1, 2026. Mink Brook Partners LP transferred 199,099 shares, and Mink Brook Opportunity Fund LP acquired 199,099 shares at $3.70 per share; no shares were bought or sold in the open market. No Rule 10b5-1 plan is reported. The reported post-transaction holdings were 1,988,583 shares for Mink Brook Partners LP and 893,421 shares for Mink Brook Opportunity Fund LP.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Mink Brook Asset Management LLC

Role 10% Owner

Bought 199,099 shs ($737K)

Sold 199,099 shs ($737K)

Type	Security	Shares	Price	Value
Sale	Common Stock, par value $0.001 per share ("Common Stock") F1, F2, F3	199,099	$3.70	$737K
Purchase	Common Stock, par value $0.001 per share ("Common Stock") F1, F3, F4	199,099	$3.70	$737K

Holdings After Transaction: Common Stock, par value $0.001 per share ("Common Stock") — 1,988,583 shares (Indirect, By Mink Brook Partners LP); Common Stock, par value $0.001 per share ("Common Stock") — 893,421 shares (Indirect, By Mink Brook Opportunity Fund LP)

Footnotes (4)

1. F1. The price reported in column 4 is a weighted average price. These shares were transferred in a rebalancing transaction between funds in one transaction at a price of $3.70 inclusive. No shares were bought or sold in the open market. 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.
2. F2. 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.
3. 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.
4. F4. Represents securities owned directly by Mink Brook Opportunity Fund 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.

Key Figures

Shares transferred: 199,099 shares Reported price: $3.70 per share Mink Brook Partners LP holdings after transaction: 1,988,583 shares +1 more

4 metrics

Shares transferred 199,099 shares Fund-to-fund rebalancing on October 1, 2026

Reported price $3.70 per share Weighted average price for the rebalancing transaction

Mink Brook Partners LP holdings after transaction 1,988,583 shares Reported following the October 1, 2026 transaction

Mink Brook Opportunity Fund LP holdings after transaction 893,421 shares Reported following the October 1, 2026 transaction

Key Terms

weighted average price, rebalancing transaction, beneficial ownership, pecuniary interest

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.

rebalancing transaction financial

"transferred in a rebalancing transaction between funds"

beneficial ownership regulatory

"disclaims beneficial ownership of the shares reported herein"

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 regulatory

"except to the extent of its pecuniary interest therein"

FAQ

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

What happened to DLHC shares held by the Mink Brook funds?

On October 1, 2026, Mink Brook Partners LP transferred 199,099 shares to Mink Brook Opportunity Fund LP at $3.70 per share in a rebalancing transaction. The price was described as a weighted average, no shares were bought or sold in the open market, and no Rule 10b5-1 plan is reported.

How many DLHC shares did each Mink Brook fund hold after the transaction?

Mink Brook Partners LP reported 1,988,583 shares following its transfer, and Mink Brook Opportunity Fund LP reported 893,421 shares following its acquisition.

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

Mink Brook Asset Management LLC and Mink Brook Capital GP LLC disclaim beneficial ownership of the reported shares except to the extent of their pecuniary interests. The statement is not an admission that William Mueller, identified as managing member of both, is a beneficial owner of the shares.

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

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Available on EDGAR 10/02/2026 - 10:10 AM Accepted by SEC EDGAR 10/02/2026 - 10:10 AM 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^*

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)
10/01/2026

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)

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 Stock, par value $0.001 per share ("Common Stock")	10/01/2026		S		199,099	D	$3.7(1)	1,988,583	I	By Mink Brook Partners LP(2)(3)
Common Stock, par value $0.001 per share ("Common Stock")	10/01/2026		P		199,099	A	$3.7(1)	893,421	I	By Mink Brook Opportunity Fund 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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported in column 4 is a weighted average price. These shares were transferred in a rebalancing transaction between funds in one transaction at a price of $3.70 inclusive. No shares were bought or sold in the open market. 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.

2. 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.

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 Opportunity Fund 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.

Remarks:

	/s/ William Mueller	10/02/2026
	** 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.
* Form 4: SEC 1474 (03-26)