Howard Amster Sells $12.8M of Adamas Trust Stock, Stake Falls to 4.9%
ADAM sits 52% above its 52-week low of $6.445 on light trading volume (0.4× avg).
Summary
Howard Amster disclosed selling 1.37 million Adamas Trust shares for about $12.8 million, cutting his stake to 4.9% and dropping below the 5% reporting threshold.
Key Events · Ownership and Investor Activity · ADAM
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Amster Sells 1.37M Shares for $12.8M
Howard Amster sold 1,365,600 shares across 12 open-market transactions between June 25 and August 20, 2026, at weighted average prices ranging from $9.04 to $10.24 per share.
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Stake Falls Below 5% Threshold
Amster's beneficial ownership declined to 4,381,764 shares, or 4.9% of the 89,879,786 shares outstanding as of July 24, 2026 — just below the 5% Schedule 13D reporting threshold.
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Largest Single-Day Sale: 250,000 Shares
On July 1, 2026, Amster sold 250,000 shares at a weighted average price of $9.35, generating approximately $2.34 million in proceeds.
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New Joint Filer Added
Horizon Group Properties Inc. joined the filing group via a Joinder to Joint Filing Agreement, adding 35,000 shares to the aggregate reported position.
Analysis · ADAM · Real Estate & Construction
Howard Amster, the largest individual beneficial owner of Adamas Trust, sold 1,365,600 shares for approximately $12.8 million between late June and August 20, 2026. The sales reduced his aggregate beneficial ownership to 4,381,764 shares, or 4.9% of the 89.9 million shares outstanding — just below the 5% threshold that would require continued Schedule 13D reporting. The selling was steady and methodical across twelve trading days, with the largest single-day sale of 250,000 shares on July 1. This is a meaningful reduction by a long-standing holder, though the sales were executed at prices between $9.04 and $10.24, roughly in line with the stock's recent trading range.
How filings like this one have moved
In the 30 days to Aug 25, 2026, 29.6% of the 2856 measured filings Wiseek scored 7 moved their stock by 5% or more by the next session's close. The median move was -0.04%. These are measured outcomes after filings of this importance, not a forecast for this one.
Measured one observation per ticker per day, after exclusions. Current figures: Filing Impact Tracker · open dataset
At the time of this filing, ADAM was trading at $9.82 on NASDAQ in the Real Estate & Construction sector, with a market capitalization of approximately $882.6M. The 52-week trading range was $6.45 to $10.36. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.