Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements
Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers. On July 13, 2026, the Company awarded (a) Christopher V.…
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Item 5.02Item 5.02 - Departure/Election of Directors
Item 5.02 Departure of Directors or Certain Officers; Election of
Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.
On July 13, 2026,
the Company awarded (a) Christopher V. Vitale, President and Chief Executive Officer of the Company, a $178,000 cash bonus and 8,700
restricted shares of common stock of the Company under the AMREP Corporation 2016 Equity Compensation Plan that vest as follows: 2,900
shares on July 13, 2027, 2,900 shares on July 13, 2028 and 2,900 shares on July 13, 2029, subject to the continued employment
of Mr. Vitale on each vesting date and (b) Adrienne M. Uleau, Chief Financial Officer and Vice President of the Company, a
$64,000 cash bonus and 2,250 restricted shares of common stock of the Company under the AMREP Corporation 2016 Equity Compensation Plan
that vest as follows: 750 shares on July 13, 2027, 750 shares on July 13, 2028 and 750 shares on July 13, 2029, subject
to the continued employment of Ms. Uleau on each vesting date. On July 13, 2026, the Company approved a change in salary to
$395,000 for Mr. Vitale and to $205,000 for Ms. Uleau effective as of July 27, 2026.