Henry Posner III boosts PW.A preferred stake at Power REIT (PW)

Rhea-AI Filing Summary

Power REIT 10% owner Henry Posner III reported open‑market purchases of the company’s 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock. On February 6, 2026, he bought 5,420 shares at a weighted average price of $5.9838 and 19,213 shares at a weighted average price of $6.7921. Following these transactions, he beneficially owns 34,000 shares of the Series A preferred, which has a $25 liquidation preference per share and trades under the symbol PW.A. The preferred may become convertible into Power REIT common stock only upon specified events such as a Change of Control or a Delisting Event, subject to the issuer’s redemption rights.

Insider Trade Summary

Net Buyer: 24,633 shares ($162,929)

Net Buy 2 txns

Insider POSNER HENRY III

Role 10% Owner

Bought 24,633 shs ($163K)

Type	Security	Shares	Price	Value
Purchase	7.75% Series A Cum. Red. Perpetual Preferred Stock	5,420	$5.9838	$32K
Purchase	7.75% Series A Cum. Red. Perpetual Preferred Stock	19,213	$6.7921	$130K

Holdings After Transaction: 7.75% Series A Cum. Red. Perpetual Preferred Stock — 14,787 shares (Direct)

Footnotes (1)

1. The 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock Liquidation Preference $25.00 per Share ("Series A Preferred Stock") may be convertible into shares of the common stock of Power REIT ("Issuer") only upon the occurrence of certain material events outside the control of the reporting person, including a "Change of Control" and a "Delisting Event" (each as defined in the Series A Preferred Stock Articles Supplementary), provided that the Issuer has not earlier delivered notice of the Issuer's election to redeem such shares of Series A Preferred Stock. If it becomes convertible as noted in footnote (1), one share of Series A Preferred Stock may be converted into a number of shares of common stock equal to the lesser of: (i) the quotient obtained by dividing the sum of $25 plus any accrued and unpaid dividends by (x) the cash consideration per share of common stock received in the Change of Control if cash is the sole consideration received or (y) the average of the closing price per share of common stock on the 10 consecutive trading days immediately preceding the effective date of the Change of Control (if any consideration other than cash is received by holders of common stock) or the effective date of the Delisting Event, as applicable; or (ii) 5. The trading symbol for the Series A Preferred Stock is PW.A. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transaction at prices ranging from $5.49 to $6.45, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnotes (3) and (4) of this Form 4. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.50 to $7.00, inclusive.

Form 4 Insider Transactions: What Each Field Means →

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
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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^*

POSNER HENRY III

(Last) (First) (Middle)

535 SMITHFIELD STREET

SUITE 960

(Street)

PITTSBURGH PA 15222

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Power REIT [ PW ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	X	10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
02/06/2026

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

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

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

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
7.75% Series A Cum. Red. Perpetual Preferred Stock(1)(2)	02/06/2026		P		5,420	A	$5.9838(3)	14,787	D
7.75% Series A Cum. Red. Perpetual Preferred Stock	02/06/2026		P		19,213	A	$6.7921(4)	34,000	D

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 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock Liquidation Preference $25.00 per Share ("Series A Preferred Stock") may be convertible into shares of the common stock of Power REIT ("Issuer") only upon the occurrence of certain material events outside the control of the reporting person, including a "Change of Control" and a "Delisting Event" (each as defined in the Series A Preferred Stock Articles Supplementary), provided that the Issuer has not earlier delivered notice of the Issuer's election to redeem such shares of Series A Preferred Stock.

2. If it becomes convertible as noted in footnote (1), one share of Series A Preferred Stock may be converted into a number of shares of common stock equal to the lesser of: (i) the quotient obtained by dividing the sum of $25 plus any accrued and unpaid dividends by (x) the cash consideration per share of common stock received in the Change of Control if cash is the sole consideration received or (y) the average of the closing price per share of common stock on the 10 consecutive trading days immediately preceding the effective date of the Change of Control (if any consideration other than cash is received by holders of common stock) or the effective date of the Delisting Event, as applicable; or (ii) 5. The trading symbol for the Series A Preferred Stock is PW.A.

3. The price reported in column 4 is a weighted average price. These shares were purchased in multiple transaction at prices ranging from $5.49 to $6.45, inclusive. The reporting person undertakes to provide the Issuer, any security holder of the Issuer, or the staff of the SEC, upon request, full information regarding the number of shares purchased at each separate price within the ranges set forth in footnotes (3) and (4) of this Form 4.

4. The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $6.50 to $7.00, inclusive.

	/s/ Briar McNutt as Attorney-in-Fact for Henry Posner III	02/10/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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FAQ

What insider transaction did Power REIT (PW) report for Henry Posner III?

Power REIT reported that 10% owner Henry Posner III bought additional 7.75% Series A preferred shares. On February 6, 2026, he purchased 5,420 shares at $5.9838 and 19,213 shares at $6.7921, increasing his beneficial ownership to 34,000 preferred shares.

What security did Henry Posner III purchase in Power REIT (PW)?

He purchased Power REIT’s 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock. This preferred carries a $25 liquidation preference per share and trades under the symbol PW.A, offering cumulative dividends and potential convertibility into common stock under specific corporate events.

How many Power REIT (PW) preferred shares does Henry Posner III now own?

After the reported trades, Henry Posner III beneficially owns 34,000 shares of Power REIT’s 7.75% Series A preferred stock. This total reflects two February 6, 2026 open‑market purchases of 5,420 shares and 19,213 shares at disclosed weighted average prices.

At what prices did Henry Posner III buy Power REIT (PW) PW.A preferred shares?

He acquired 5,420 preferred shares at a weighted average price of $5.9838 and 19,213 preferred shares at a weighted average price of $6.7921. Both transactions occurred on February 6, 2026 and were reported as open‑market purchases on a Form 4 filing.

Can Power REIT (PW) Series A preferred shares convert into common stock?

The Series A preferred may become convertible into Power REIT common stock only if certain material events occur, including a Change of Control or a Delisting Event. Conversion is also subject to the issuer not having previously elected to redeem the preferred shares.

What is the liquidation preference of Power REIT (PW) Series A preferred stock?

Power REIT’s 7.75% Series A Cumulative Redeemable Perpetual Preferred Stock has a $25 liquidation preference per share. This means holders are entitled to receive $25 per share, plus any accrued and unpaid dividends, before common shareholders in a liquidation scenario.