AMREP Shareholder James Dahl Files 13D/A Amendment No. 4

Ticker: AXR · Form: SC 13D/A · Filed: Jan 9, 2024 · CIK: 6207

Complexity: simple

Sentiment: neutral

Topics: insider-ownership, amendment, shareholder-update

TL;DR

**Major AMREP shareholder James H. Dahl updated his ownership filing, signaling a change in his stake.**

AI Summary

James H. Dahl, a significant shareholder of AMREP Corporation (NYSE: AXR), filed an Amendment No. 4 to his Schedule 13D on January 5, 2024. This filing updates his beneficial ownership of AMREP's Common Stock, par value $0.10 per share. While the filing itself doesn't detail a specific transaction, it indicates a change in previously disclosed information regarding his stake. This matters to investors because Dahl is a major holder, and any significant changes in his ownership or intentions could signal his view on the company's future, potentially influencing stock price.

Why It Matters

This filing updates the public record on a major shareholder's stake in AMREP, providing transparency that can influence investor sentiment and potentially the stock's valuation.

Risk Assessment

Risk Level: low — This is a routine update from a significant shareholder and does not inherently present a high risk to the company or its investors.

Analyst Insight

Investors should note that a major shareholder is updating their position, but without specific transaction details in this summary, it's primarily a transparency update. Further investigation into the full filing for changes in ownership percentages or intentions would be prudent.

Key Numbers

Key Players & Entities

Forward-Looking Statements

FAQ

Who is the reporting person in this SC 13D/A filing?

The reporting person in this SC 13D/A filing is James H. Dahl, whose address is 4314 Pablo Oaks Court, Jacksonville, FL 32224.

What is the subject company of this filing?

The subject company is AMREP Corporation, with the CUSIP Number 032159105 for its Common Stock, par value $0.10 per share.

What is the date of the event that triggered this filing?

The date of the event which required the filing of this statement is January 5, 2024.

What type of security is the subject of this filing?

The security that is the subject of this filing is Common Stock, par value $0.10 per share, of AMREP Corporation.

Which law firm is listed as counsel for the reporting person?

Ivan A. Colao, Esq. of Holland & Knight LLP, located at 50 North Laura Street, Suite 3900, Jacksonville, FL 32202, is listed as counsel for the reporting person, James H. Dahl.

Filing Stats: 2,003 words · 8 min read · ~7 pages · Grade level 6.5 · Accepted 2024-01-09 16:10:25

Key Financial Figures

Filing Documents

Identity and Background

Item 2. Identity and Background.

(a)-(c) of the Amended Schedule

Item 2(a)-(c) of the Amended Schedule 13D is amended and restated to read as follows: (a)-(c) This Statement on Schedule 13D is being filed by: (i) James H. Dahl and (ii) Rainey E. Lancaster (each, a “Reporting Person” and collectively, the “Reporting Persons”). The name, address and present principal occupation of the Reporting Persons are as follows: (a) James H. Dahl, 4314 Pablo Oaks Court, Jacksonville, FL 32224, Founding Partner of Rock Creek Capital; and (b) Rainey E. Lancaster, c/o James H. Dahl, 4314 Pablo Oaks Court, Jacksonville, FL 32224, Marketing Executive of Apple Inc. The Reporting Persons have entered into a joint filing agreement, dated as of May 20, 2021, a copy of which is attached hereto as Exhibit 99.1 and is incorporated herein by reference. Item 3. Source and Amount of Funds or Other Considerations.

of the Amended Schedule

Item 3 of the Amended Schedule 13D is amended and restated to read as follows: The Reporting Persons may be deemed to beneficially own 771,556 Shares, in aggregate. The amount and source of the funds for the transactions pursuant to which the Reporting Persons may be deemed to beneficially own such Shares were approximately $9,080,291.69 in aggregate purchase price for 771,556 Shares, derived from: (i) in the case of James H. Dahl, personal funds of James H. Dahl and funds from the following trusts for which James H. Dahl serves as trustee: IRA FBO James H. Dahl Pershing LLC as Custodian ROTH Conversion Account, IRA FBO James H. Dahl Pershing LLC as Custodian and Dahl Family Foundation, Inc.; and (ii) in the case of Rainey E. Lancaster, personal funds of Rainey E. Lancaster. Item 5. Interest in Securities of the Issuer.

of the Amended Schedule

Item 5 of the Amended Schedule 13D is amended and restated to read as follows: (a)According to the most recently filed Quarterly Report on Form 10-Q of the Issuer for the quarter ended October 31, 2023, filed with the SEC on December 11, 2023, the Issuer had 5,271,309 Shares outstanding as of December 3, 2023. Each Reporting Person may be deemed to have the following beneficial ownership of Shares of the Issuer: (i) James H. Dahl may be deemed to beneficially own 771,556 Shares, in aggregate (or 14.6% of the total number of Shares outstanding); and (ii) Rainey E. Lancaster may be deemed to beneficially own 173,750 Shares (or 3.3% of the total number of Shares outstanding). All holdings in this Statement on Schedule 13D are reported as of the closing of business on January 9, 2024. (b)James H. Dahl has sole power to vote and dispose of 597,806 Shares, including: (i) 274,535 Shares held directly, (ii) 204,151 Shares held by IRA FBO James H. Dahl Pershing LLC as Custodian ROTH Conversion Account, (iii) 25,000 Shares held by IRA FBO James H. Dahl Pershing LLC as Custodian, and (iv) 94,120 Shares 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. The Reporting Persons have shared power to vote and dispose of 173,750 Shares held by Rainey E. Lancaster. (c)The Reporting Persons effected the following transactions in the Shares in open market transactions on the dates indicated, and such transactions are the only transactions in the Shares by the Reporting Persons during the sixty days prior to and including January 9, 2024 (date range: November 10, 2023 through January 9, 2024): Date of Transaction Number of Shares Purchased Price Per Share 11/15/23 2,226 $15.9883 1 11/16/23 474 $16.00 11/16/23 600 $15.9692 2 11/17/23 100 $16.75 11/17/23 10 $16.74 11/27/23 829 $16.75 11/28/23 100 $16.725 11/28/23 174 $16.75 11/29/23 917

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