AMREP CORP. — Director's Dealing 2026

Feb 19, 2026

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: AMREP CORP. (AXR)
CIK: 0000006207
Period of Report: 2026-02-17

Reporting Person: DAHL JAMES H (10% Owner)
Reporting Person: Lancaster Rainey E. (10% Owner)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2026-02-17	Common Shares	P	4411	$24.528	Acquired	452467	Direct
2026-02-17	Common Shares	P	2431	$25.50	Acquired	454898	Direct
2026-02-18	Common Shares	P	3212	$25.039	Acquired	458110	Direct
2026-02-18	Common Shares	P	788	$25.748	Acquired	458898	Direct

Holdings (Non-Derivative)

Security	Shares	Ownership
Common Shares	229151	Indirect
Common Shares	94120	Indirect
Common Shares	173750	Direct

Footnotes

F1: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $23.98 to $24.95 per share.

F2: The shares are held by James H. Dahl.

F3: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $25.07 to $25.94 per share.

F4: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $24.29 to $25.23 per share.

F5: The price reported in Column 4 is a weighted average price. These shares were purchased in multiple transactions at prices ranging from $25.35 to $25.86 per share.

F6: The shares are held in two IRA accounts as follows: 204,151 shares held by the ROTH Conversion Account and 25,000 shares held by the IRA Account.

F7: The shares are held by Dahl Family Foundation, Inc. Neither James H. Dahl nor any member of his family have any pecuniary interest in shares held by Dahl Family Foundation, Inc.

F8: The shares are held by Rainey E. Lancaster who is a member of a group with James H. Dahl for purposes of Section 13(d) of the Exchange Act.