AMREP CORP. — Director's Dealing 2018

Dec 31, 2018

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMREP CORP. (AXR)
CIK: 0000006207
Period of Report: 2018-12-27

Reporting Person: ROBOTTI ROBERT (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2018-12-27	Class A Common Stock, $0.10 par value	S	5644	$6.2676	Disposed	358986	Indirect
2008-12-28	Class A Common Stock, $0.10 par value	S	2	$6.25	Disposed	358984	Indirect
2018-12-31	Class A Common Stock, $0.10 par value	S	21821	$6.0559	Disposed	337163	Indirect

Footnotes

F1: This amount includes 221,702 shares of the Common Stock, $0.10 par value (the "Common Stock"), directly owned by The Ravenswood Investment Company, LP ("RIC") and 137,284 shares of the Common Stock directly owned by Ravenswood Investments III, L.P. ("RI").

F2: This amount includes 221,700 shares of the Common Stock directly owned by RIC and 137,284 shares of the Common Stock directly owned by RI.

F3: This amount includes 207,953 shares of the Common Stock directly owned by RIC and 129,210 shares of the Common Stock directly owned by RI.

F4: Mr. Robotti may be deemed to beneficially own (solely for the purpose of Rule 16a-1(a)(2) under the Exchange Act) the securities set forth in footnote (1) above as managing member of Ravenswood Management Company, L.L.C., which serves as the general partner of RIC and RI. Mr. Robotti disclaims beneficial ownership of such securities except to the extent of his pecuniary interest therein.