A-Mark Precious Metals Insider Activity: Lepine Acquires Stock Units

Rhea-AI Filing Summary

A-Mark Precious Metals (AMRK) – Form 4 filing, 8/5/25: Director Beverley Lepine reported the automatic acquisition of 119.784 deferred stock units on 8/1/25 at an equivalent price of $20.57 per share. The transaction is coded “A,” indicating an award exempt under Rule 16b-3(d) and tied to dividend-equivalent reinvestment rather than an open-market purchase. Following the award, Lepine’s direct beneficial ownership rises to 12,939.5649 AMRK shares.

No derivative securities were transacted, and there were no dispositions. The filing reflects routine board-level equity accrual and signals continued insider alignment, but the ~$2.5k market value (<0.01 % of shares outstanding) is immaterial to the company’s capital structure.

Positive

• Director increased direct ownership to 12,939.6 shares, signaling continued equity alignment.
• Transaction exempt under Rule 16b-3(d), indicating adherence to governance and insider-trading regulations.

Negative

• None.

Insights

Securities Analyst

TL;DR: Small routine dividend reinvestment; negligible valuation impact.

The 120-share award, worth roughly $2.5 k, represents housekeeping under AMRK’s director compensation plan. While insider accumulation is directionally positive, the size is immaterial and provides no read-through for earnings, liquidity, or strategy. I classify the filing as neutral/not impactful to the investment thesis.

Corporate Governance Expert

TL;DR: Filing evidences standard equity alignment for directors.

Deferred stock units earned via dividend equivalents reinforce alignment between directors and shareholders, consistent with good governance practice. No red flags appear; however, the nominal amount does not materially change ownership concentration or board incentives. Impact on governance risk profile is negligible.

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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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^*

Lepine Beverley

(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		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
08/01/2025

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	08/01/2025		A		119.784(1)	A	$20.57	12,939.5649	D

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

Explanation of Responses:

1. Acquisition of additional deferred stock units upon deemed reinvestment of dividend equivalents, in a transaction exempt under Rule 16b-3(d).

	/s/ Carol Meltzer, by power of attorney	08/05/2025
	** 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 on Form 4?

Director Beverley Lepine acquired 119.784 deferred stock units on 08/01/25 via dividend reinvestment.

At what price were the AMRK shares acquired?

The deemed price was $20.57 per share.

How many AMRK shares does the director now own?

Lepine’s direct beneficial ownership totals 12,939.5649 shares after the transaction.

Was the Form 4 transaction a purchase on the open market?

No. It was an automatic grant of deferred stock units exempt under Rule 16b-3(d).

Is the filing expected to impact AMRK’s stock price?

Given the small size (~$2.5 k), analysts view the impact as negligible.