Mink Brook buys 700 DLH Holdings shares near $4.4

DLH Holdings Corp. (DLHC) reported insider activity by Mink Brook Asset Management LLC, a greater-than-10% owner.

Rhea-AI Filing Summary

DLH Holdings Corp. (DLHC) reported insider activity by Mink Brook Asset Management LLC, a greater-than-10% owner. On August 31, 2026, an affiliated fund purchased 500 shares of common stock at a weighted-average price of $4.3970 per share, in multiple trades between $4.325 and $4.47. On September 1, 2026, the fund purchased an additional 200 shares at a weighted-average price of $4.3624 per share, in trades between $4.32 and $4.43. A related fund is reported as holding 694,322 shares of common stock indirectly, with Mink Brook Asset Management LLC and its general partner disclaiming beneficial ownership beyond their pecuniary interest.

Insider Trade Summary

Net Buyer: 700 shares

Net Buy 3 txns

Insider Mink Brook Asset Management LLC

Role 10% Owner

Bought 700 shs ($3K)

Type	Security	Shares	Price	Value
Purchase	Common Stock, par value $0.001 per share ("Common Stock") F4, F2, F3	200	$4.3624	$872.48
Purchase	Common Stock, par value $0.001 per share ("Common Stock") F1, F2, F3	500	$4.397	$2K
holding	Common Stock, par value $0.001 per share ("Common Stock") F3, F5	--	--	--

Holdings After Transaction: Common Stock, par value $0.001 per share ("Common Stock") — 2,181,047 shares (Indirect, By Mink Brook Partners LP); Common Stock, par value $0.001 per share ("Common Stock") — 694,322 shares (Indirect, By Mink Brook Opportunity Fund LP)

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 $4.325 to $4.47 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.
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. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.32 to $4.43 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.
5. F5. 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 purchased 2026-08-31: 500 shares Weighted-average price 2026-08-31: $4.3970 per share Price range 2026-08-31: $4.325–$4.47 per share +5 more

8 metrics

Shares purchased 2026-08-31 500 shares Open-market or private purchase of DLH Holdings Corp. common stock on August 31, 2026

Weighted-average price 2026-08-31 $4.3970 per share 500-share purchase; trades ranged from $4.325 to $4.47 per share

Price range 2026-08-31 $4.325–$4.47 per share Range of individual trade prices for the 500-share purchase

Shares purchased 2026-09-01 200 shares Open-market or private purchase of DLH Holdings Corp. common stock on September 1, 2026

Weighted-average price 2026-09-01 $4.3624 per share 200-share purchase; trades ranged from $4.32 to $4.43 per share

Price range 2026-09-01 $4.32–$4.43 per share Range of individual trade prices for the 200-share purchase

Indirect holdings by Mink Brook Opportunity Fund LP 694,322 shares Indirect ownership of DLH Holdings Corp. common stock reported in the Form 4

Total net shares bought in this filing 700 shares Net-buy direction across reported non-derivative transactions

Key Terms

weighted average price, beneficially own, disclaims beneficial ownership, pecuniary interest, +1 more

5 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.

beneficially own financial

"may be deemed to beneficially own the securities owned directly by the Fund."

Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.

disclaims beneficial ownership financial

"disclaims beneficial ownership of the shares reported herein except to the extent"

pecuniary interest financial

"except to the extent of its pecuniary interest therein"

indirect financial

"direct_or_indirect": "I", "nature_of_ownership": "By Mink Brook Partners LP""

FAQ

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

What insider transactions in DLHC were reported by Mink Brook Asset Management LLC?

Mink Brook Asset Management LLC reported two open-market purchases of DLH Holdings Corp. common stock: 500 shares on August 31, 2026 at a weighted-average $4.3970 per share, and 200 shares on September 1, 2026 at a weighted-average $4.3624 per share.

How many DLHC shares did the insider-affiliated funds buy in this Form 4?

The affiliated funds associated with Mink Brook Asset Management LLC bought a total of 700 shares of DLH Holdings Corp. common stock: 500 shares on August 31, 2026 and 200 shares on September 1, 2026, all reported as open-market or private purchases.

What prices were paid for the DLHC shares in the reported insider purchases?

The August 31, 2026 purchase of 500 shares had a weighted-average price of $4.3970 per share, with individual trades between $4.325 and $4.47. The September 1, 2026 purchase of 200 shares had a weighted-average price of $4.3624, with trades between $4.32 and $4.43.

How many DLHC shares are held by the related Mink Brook Opportunity Fund LP?

A related entity, Mink Brook Opportunity Fund LP, is reported as holding 694,322 shares of DLH Holdings Corp. common stock indirectly. Mink Brook Asset Management LLC and its general partner disclaim beneficial ownership except to the extent of their pecuniary interest.

Were the DLHC insider trades made under a Rule 10b5-1 trading plan?

The filing’s Rule 10b5-1 checkbox is not marked as affirming that the transactions were made pursuant to a Rule 10b5-1 trading plan, and the footnotes do not state that a trading plan governed these specific trades.

Who is attributed as owning the DLHC shares in this Form 4?

The purchased shares are reported as owned directly by Mink Brook Partners LP, with Mink Brook Asset Management LLC potentially deemed a beneficial owner as investment manager. Shares in Mink Brook Opportunity Fund LP are similarly attributed, with both entities and William Mueller disclaiming beneficial ownership beyond pecuniary interest.

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

Form 4 Insider Transactions: What Each Field Means →

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Available on EDGAR 09/01/2026 - 04:38 PM EDT Accepted by SEC EDGAR 09/01/2026 - 04:38 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^*

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)
08/31/2026

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")	08/31/2026		P		500	A	$4.397(1)	2,180,847	I	By Mink Brook Partners LP(2)(3)
Common Stock, par value $0.001 per share ("Common Stock")	09/01/2026		P		200	A	$4.3624(4)	2,181,047	I	By Mink Brook Partners LP(2)(3)
Common Stock, par value $0.001 per share ("Common Stock")								694,322	I	By Mink Brook Opportunity Fund LP(3)(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

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 $4.325 to $4.47 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.

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. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $4.32 to $4.43 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.

5. 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	09/01/2026
	** 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)