[Form 4] A-Mark Precious Metals, Inc. Insider Trading Activity

Rhea-AI Filing Summary

A-Mark Precious Metals, Inc. insider Form 4 filing reports option exercise and share sale. The reporting person, who is a director, Chief Executive Officer and 10% owner of A-Mark Precious Metals, Inc. (AMRK), exercised stock options for 20,000 shares of common stock at an exercise price of $9.25 per share on 11/25/2025. On the same date, 20,000 shares of common stock were sold at a weighted average price of $26.37 per share.

Following these transactions, the reporting person directly owns 48,202 shares of A-Mark common stock and holds 155,117 stock options. In addition, 1,867,416 shares are reported as indirectly owned through Silver Bow Ventures, LLC, for which the reporting person has a 50% indirect ownership interest and disclaims beneficial ownership beyond his proportionate pecuniary interest, and 32,340 shares are indirectly owned through the Roberts Family Trust.

Insights

Equity Ownership and Governance Analyst

CEO exercised options, sold shares, but retains a very large indirect ownership stake.

The filing shows the CEO of A‑Mark Precious Metals, Inc. exercised stock options for 20,000 shares at an exercise price of $9.25 and on the same date sold 20,000 common shares at a weighted average price of $26.37, leaving 28,202 shares held directly. This is a typical option exercise-and-sell transaction, where the derivative security (a stock option granted on 200,000 shares, vesting between 2017 and 2020) converts into common stock, then shares are sold in the market.

After the reported transactions, the CEO still reports substantial indirect holdings: 1,867,416 shares held through Silver Bow Ventures, LLC and 32,340 shares held by the Roberts Family Trust, in addition to the 28,202 shares held directly. The filing notes that the CEO has a 50% indirect ownership interest in Silver Bow Ventures, LLC and disclaims beneficial ownership beyond his proportionate pecuniary interest. This structure means economic exposure remains large despite the sale of 20,000 shares.

The exercise used a derivative security with a strike price of $9.25 and created 20,000 common shares underlying the option before sale, leaving 155,117 options still beneficially owned after this transaction. The sales occurred in multiple trades between $26.19 and $26.56 on 11/25/2025, with the filer committing to provide detailed trade breakdowns on request. Over the next several quarters, one concrete point to monitor is whether additional Form 4 filings show continued sales from the remaining 155,117 options or from the large indirect holdings through Silver Bow Ventures, LLC.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ROBERTS GREGORY N

(Last) (First) (Middle)

2121 ROSECRANS AVE

SUITE 6300

(Street)

EL SEGUNDO CA 90245

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
A-Mark Precious Metals, Inc. [ AMRK ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive Officer

3. Date of Earliest Transaction (Month/Day/Year)
11/25/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common stock, par value $0.01 per share	11/25/2025		M		20,000	A	$9.25	48,202	D
Common stock, par value $0.01 per share	11/25/2025		S		20,000	D	$26.37(1)	28,202	D
Common Stock, par value $0.01 per share								1,867,416	I	See footnote(2)
Common stock, par value $0.01 per share								32,340	I	By Roberts Family Trust

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock option (right to buy)	$9.25	11/25/2025		M			20,000	(3)	02/19/2026	Common stock, par value $0.01 per share	20,000	$9.25	155,117	D

Explanation of Responses:

1. The price reported is a weighted average sales price. The shares were sold in multiple transactions at prices ranging from not less than $26.19 to not more than $26.56. The reporting person undertakes to provide to A-Mark Precious Metals, Inc. ("A-Mark"), any security holder of A-Mark, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth in this footnote to this Form.

2. Shares beneficially owned by Silver Bow Ventures, LLC, in which the Reporting Person has an indirect ownership interest of 50%. The Reporting Person disclaims beneficial ownership of such shares in excess of his proportionate pecuniary interest in Silver Bow Ventures, LLC.

3. The option granted covered 200,000 shares, and vested 25% per year on June 30, 2017, 2018, 2019, and 2020.

Remarks:

	/s/Carol Meltzer, by power of attorney	11/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did AMRK report in this Form 4 filing?

The Form 4 reports that the A-Mark Precious Metals, Inc. insider exercised stock options for 20,000 shares of common stock at $9.25 per share and sold 20,000 shares of common stock at a weighted average price of $26.37 per share on 11/25/2025.

How many AMRK shares does the insider own directly after the 11/25/2025 transactions?

After the reported transactions on 11/25/2025, the insider directly owns 48,202 shares of A-Mark Precious Metals, Inc. common stock.

What stock options does the AMRK insider hold after this Form 4?

Following the transactions, the insider beneficially owns 155,117 stock options to purchase A-Mark common stock. The option involved in this filing had an exercise price of $9.25 per share and originally covered 200,000 shares, vesting 25% per year in 2017, 2018, 2019, and 2020.

What indirect ownership in AMRK shares is reported for the insider?

The filing reports 1,867,416 shares of A-Mark common stock beneficially owned indirectly through Silver Bow Ventures, LLC, in which the reporting person has a 50% indirect ownership interest, and 32,340 shares indirectly owned through the Roberts Family Trust. The reporting person disclaims beneficial ownership of Silver Bow Ventures, LLC shares in excess of his proportionate pecuniary interest.

What was the price range for the AMRK shares sold in this Form 4?

The reported sale price of $26.37 per share is a weighted average. The shares were sold in multiple transactions at prices ranging from not less than $26.19 to not more than $26.56 per share.

What is the insider's relationship to A-Mark Precious Metals, Inc.?

The reporting person is a director, Chief Executive Officer, and a 10% owner of A-Mark Precious Metals, Inc., as indicated in the Form 4.