National Presto (NPK): Ignium II discloses 4.01% ownership position

Q: When did Albion River’s group fall below 5% ownership in NPK?

The reporting persons state they ceased to be beneficial owners of more than five percent of National Presto’s common stock as of May 20, 2026 . Their current reported ownership is 4.01% of the company’s outstanding common shares.

Q: How many National Presto (NPK) shares are used to calculate the 4.01% stake?

The 4.01% ownership figure is based on 7,166,043 National Presto common shares outstanding as of May 3, 2026. That share count comes from the company’s Form 10‑Q filed on April 5, 2026, as cited by the reporting group.

Q: Can the Albion River group change its National Presto (NPK) holdings going forward?

Yes. The reporting persons state they may buy additional National Presto securities or sell some or all current holdings in open‑market or private transactions, depending on market conditions, the issuer’s situation and the fund’s capital needs.

Filing Impact

(Moderate)

Filing Sentiment

(Neutral)

Form Type

SCHEDULE 13D/A

Rhea-AI Filing Summary

Albion River Management, Ignium II and Darren Farber filed an amended ownership report on National Presto Industries, showing beneficial ownership of 287,034 common shares, or 4.01% of the company’s stock as of mid‑June 2026.

The group previously held up to 395,080 shares and has since sold a portion in open‑market transactions, dropping below the 5% threshold on May 20, 2026. The position, acquired for approximately $26.4 million including commissions, was funded by capital contributions to Ignium II, with no borrowing used so far. The filers state they initially viewed the shares as undervalued, have discussed strategy with the company, and may buy or sell additional National Presto securities in the future depending on conditions.

Key Figures

Current beneficial ownership: 287,034 shares Ownership percentage: 4.01% Shares outstanding: 7,166,043 shares +3 more

6 metrics

Current beneficial ownership 287,034 shares National Presto common stock held by reporting persons as of June 2026

Ownership percentage 4.01% Portion of National Presto outstanding common stock based on 7,166,043 shares

Shares outstanding 7,166,043 shares National Presto common stock outstanding as of May 3, 2026

Total purchase price $26.4 million Approximate cost, including commissions, for 287,034 shares acquired by reporting persons

Prior peak holdings 395,080 shares Earlier aggregate beneficial ownership before subsequent open‑market sales

Below 5% threshold date May 20, 2026 Date reporting persons ceased to own more than five percent of common stock

Key Terms

beneficially own, Schedule 13D, sole voting power, sole dispositive power, +2 more

6 terms

beneficially own financial

"the Reporting Persons beneficially own the number of Common Stock set forth below"

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.

Schedule 13D regulatory

"This Amendment amends and supplements the filed by the Reporting Persons on December 5, 2025 (the "Original")."

A Schedule 13D is a legal document that investors file with regulators when they buy a large enough stake in a company to potentially influence its management or decisions. It provides details about the investor’s intention, ownership stake, and plans, helping other investors understand who is gaining control and what their motives might be.

sole voting power financial

"Number of Shares Beneficially Owned by Each Reporting Person With: | 7 | Sole Voting Power 287,034.00"

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"9 | Sole Dispositive Power 287,034.00 10 | Shared Dispositive Power 0.00"

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

pecuniary interest financial

"Each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of the Reporting Person's pecuniary interest therein."

joint filing agreement regulatory

"Other than the joint filing agreement filed as Exhibit B to this Amendment"

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Available on EDGAR 06/15/2026 - 05:15 PM Accepted by SEC EDGAR 06/15/2026 - 05:14 PM

FAQ

What stake in National Presto (NPK) does Albion River currently report?

Albion River Management, Ignium II and Darren Farber report beneficial ownership of 287,034 National Presto shares, or 4.01% of outstanding common stock. This reflects a reduced position from an earlier peak of 395,080 shares disclosed in prior filings.

How much did Ignium II pay for its National Presto (NPK) position?

The reporting group states it purchased 287,034 National Presto shares for a total of about $26.4 million, including commissions. All funds came from capital contributions to Ignium II, with no borrowing used to finance the acquisition of these shares.

When did Albion River’s group fall below 5% ownership in NPK?

The reporting persons state they ceased to be beneficial owners of more than five percent of National Presto’s common stock as of May 20, 2026. Their current reported ownership is 4.01% of the company’s outstanding common shares.

How many National Presto (NPK) shares are used to calculate the 4.01% stake?

The 4.01% ownership figure is based on 7,166,043 National Presto common shares outstanding as of May 3, 2026. That share count comes from the company’s Form 10‑Q filed on April 5, 2026, as cited by the reporting group.

What is the relationship among Ignium II, Albion River and Darren Farber in this NPK filing?

Ignium II is the investment fund that directly holds National Presto shares, Albion River Management is its investment manager, and Darren Farber is Albion River’s sole managing partner. These relationships lead each to be deemed a reporting person for the same position.

Can the Albion River group change its National Presto (NPK) holdings going forward?

Yes. The reporting persons state they may buy additional National Presto securities or sell some or all current holdings in open‑market or private transactions, depending on market conditions, the issuer’s situation and the fund’s capital needs.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13D

Under the Securities Exchange Act of 1934

(Amendment No. 1)

NATIONAL PRESTO INDUSTRIES INC

(Name of Issuer)

Common Stock, $1 par value

(Title of Class of Securities)

637215104

(CUSIP Number)

Darren Farber
Albion River Management LLC, 2600 Tower Oaks Boulevard, Suite 620
Rockville, MD, 20852
(571) 321-5328

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

06/11/2026

(Date of Event Which Requires Filing of This Statement)

If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box.

The information required on the remainder of this cover page shall not be deemed to be "filed" for the purpose of Section 18 of the Securities Exchange Act of 1934 ("Act") or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

SCHEDULE 13D

Item 1.

Security and Issuer

(a)

Title of Class of Securities:

Common Stock, $1 par value

(b)

Name of Issuer:

NATIONAL PRESTO INDUSTRIES INC

(c)

Address of Issuer's Principal Executive Offices:

3925 North Hastings Way, Eau Claire, WISCONSIN , 54703-3703.

Item 1 Comment:

This Amendment (this "Amendment") amends and supplements the Schedule 13D filed by the Reporting Persons (defined herein) on December 5, 2025 (the "Original Schedule 13D"). The securities to which this Schedule 13D (the "Schedule") relates are shares of common stock, par value $1 per share (the "Common Stock"), of National Presto Industries Inc. (the "Issuer"). The principal executive offices of the Issuer are located at 3925 North Hastings Way, Eau Claire, Wisconsin 54703-3703.

Item 2.

Identity and Background

(a)

This Amendment is being filed by Ignium II, LP, a Delaware limited partnership (the "Fund"), Albion River Management LLC, a Delaware limited liability company (the "Investment Manager"), and Darren Farber, a citizen of the United States of America ("Mr. Farber") (each of the foregoing, a "Reporting Person" and, collectively, the "Reporting Persons"). The Investment Manager is the investment manager of the Fund. Mr. Farber is the sole managing partner of the Investment Manager. By virtue of these relationships, the Investment Manager and Mr. Farber may be deemed to beneficially own the Common Stock owned directly by the Fund. This report shall not be deemed an admission that the Reporting Persons are beneficial owners of Common Stock for purposes of Section 13 of the Exchange Act 1934, as amended, or for any other purpose. Each of the Reporting Persons disclaims beneficial ownership of the shares of Common Stock reported herein except to the extent of the Reporting Person's pecuniary interest therein.

(b)

The principal business address of each of the Reporting Persons is 2600 Tower Oaks Boulevard, Suite 620, Rockville, MD 20852.

(c)

The principal business of the Fund is investing in securities. The principal business of the Investment Manager is serving as the investment manager with respect to the Fund and other pooled investment vehicles. The principal occupation of Mr. Farber is serving as the sole managing partner of the Investment Manager.

(d)

(e)

During the last five years, none of the Reporting Persons, or, to the Reporting Persons' best knowledge, any of their respective directors, executive officers, or controlling persons, as the case may be, is or has been a party to a civil proceeding of a judicial or administrative body of competent jurisdiction and as a result of such proceeding, was or is subject to a judgment, decree, or final order enjoining future violations of, or prohibiting or mandating activities subject to, federal or state securities law or finding any violation with respect to such laws.

(f)

The Fund - Delaware limited partnership The Investment Manager - Delaware limited liability company Mr. Farber - citizen of the United States of America

Item 3.

Source and Amount of Funds or Other Consideration

Item 3 of the Original Schedule 13D is hereby amended and restated in its entirety to read as follows: The 287,034 shares of Common Stock currently beneficially owned by the Reporting Persons were purchased by the applicable Reporting Persons for a total purchase price of approximately $26.4 million, including commissions. All of such funds were derived from capital contributions to the Fund. No funds are being borrowed by the Reporting Persons to fund the acquisition of the shares of the Issuer's Common Stock, although the Reporting Persons may borrow funds in the future and may pledge any or all of such shares as collateral against such borrowings.

Item 4.

Purpose of Transaction

Item 4 of the Original Schedule 13D is hereby amended and restated in its entirety to read as follows: The response to Item 3 of this Amendment is incorporated herein by reference. The Reporting Persons initially acquired 362,250 shares of Common Stock over which they exercised beneficial ownership in the belief that the shares of Common Stock were undervalued and were an attractive investment opportunity. Subsequent to that initial acquisition, the Reporting Persons acquired approximately 33,000 additional shares of Common Stock in the open market, with the last such purchase occurring in January 2026, bringing the Reporting Persons' aggregate beneficial ownership to 395,080 shares of Common Stock at that time. The Reporting Persons intended to engage, and did engage, in discussions with the Issuer regarding strategy, including a meeting with the Issuer in late March 2026. The Reporting Persons thereafter sold a portion of their shares of Common Stock in the open market. Such transactions are included herein on Exhibit A. Except as stated in response to this Item 4, the Reporting Persons have no current plans or proposals with respect to the Issuer or its securities enumerated in subparagraphs (a) - (j) of this Item 4 to Schedule 13D promulgated under the Act. Notwithstanding the foregoing, the Reporting Persons may determine, from time to time in the future, based on market and general economic conditions, the business affairs and financial conditions of the Issuer, the capital requirements of the Fund (or other Reporting Persons), the availability of securities at favorable prices and other alternative investment opportunities available to the Reporting Persons, and other factors that the Reporting Persons may deem relevant, to acquire additional shares of Common Stock and/or other equity, debt, notes, instruments or other securities of the Issuer (collectively, "Securities") in the open market, in privately negotiated transactions, or otherwise, or to sell some or all of the Securities they now hold or hereafter acquire as set forth above or otherwise. The Reporting Persons reserve the right to change their intention with respect to, and pursue plans or proposals that relate to or could result in, any and all matters referred to in subparagraphs (a) - (j) of this Item 4 to Schedule 13D promulgated under the Act.

Item 5.

Interest in Securities of the Issuer

(a)

As of June 15, 2026, the Reporting Persons beneficially own the number of Common Stock set forth below. Percentage ownership is based on 7,166,043 shares of Common Stock of the Issuer that were outstanding as of May 3, 2026. The amount of shares outstanding was based upon a statement in the Issuer's Form 10-Q, filed on April 5, 2026. (a), (b) The applicable Reporting Persons may be deemed to beneficially own an aggregate of 287,034 shares of Common Stock. These shares of Common Stock represent approximately 4.01% of the outstanding shares of Common Stock of the Issuer. By virtue of relationships between the Reporting Persons (i.e., Mr. Farber's sole authority to direct the affairs of the Investment Manager, including the voting and disposition of shares of Common Stock held by all Reporting Persons), the Reporting Persons may be deemed to have sole voting and dispositive power with respect to the shares owned directly by the Fund.

(b)

The Fund has the sole power to vote or direct 287,034 of Common Stock; has the shared power to vote or direct the vote of 0 shares of Common Stock; has the sole power to dispose or direct the disposition of 287,034 of Common Stock; and has the shared power to dispose or direct the disposition of 0 shares of Common Stock. The Investment Manager has the sole power to vote or direct 287,034 of Common Stock; has the shared power to vote or direct the vote of 0 shares of Common Stock; has the sole power to dispose or direct the disposition of 287,034 of Common Stock; and has the shared power to dispose or direct the disposition of 0 shares of Common Stock. Mr. Farber has the sole power to vote or direct 287,034 of Common Stock; has the shared power to vote or direct the vote of 0 shares of Common Stock; has the sole power to dispose or direct the disposition of 287,034 of Common Stock; and has the shared power to dispose or direct the disposition of 0 shares of Common Stock.

(c)

Exhibit A hereto sets forth the transactions in Common Stock effected by the Reporting Persons during the past sixty (60) days.

(d)

The Reporting Persons have the right to receive dividends from, and the proceeds from the sale of, the shares of Common Stock covered by this Amendment and held for their account. Except as disclosed in this Item 5, no other person is known to the Reporting Persons to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the shares of Common Stock covered by this Amendment.

(e)

As of May 20, 2026, the Reporting Persons ceased to be the beneficial owners of more than five percent of the outstanding shares of Common Stock.

Item 6.

Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer

Other than the joint filing agreement filed as Exhibit B to this Amendment, the Reporting Persons have no knowledge of any contracts, arrangements, understandings or relationships (legal or otherwise) among the persons named in response to Item 2 or between such persons and any person with respect to any securities of the Issuer.

Item 7.

Material to be Filed as Exhibits.

Exhibit A: Schedule of Transactions Exhibit B: Joint Filing Statement, dated June 15, 2026.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

Albion River Management LLC

Signature:	/s/ Mark Schneiderman
Name/Title:	Mark Schneiderman/ Chief Legal Officer
Date:	06/15/2026

Ignium II, LP

Signature:	/s/ Mark Schneiderman
Name/Title:	Mark Schneiderman/ General Counsel of Ignium II, GP, LLC, its general partner
Date:	06/15/2026

Darren Farber

Signature:	/s/ Darren Farber
Name/Title:	Darren Farber
Date:	06/15/2026

Source: View Original Filing on SEC EDGAR