[Form 4] Gryphon Digital Mining, Inc Insider Trading Activity

Rhea-AI Filing Summary

Momentus Inc. (MNTS) — Form 4 filing dated 07/03/2025

Director Mitchel B. Kugler reported the grant of 32,588 derivative securities on 06/30/2025, split equally between:

• 16,294 Restricted Stock Units (RSUs) that convert into Class A common shares. These RSUs vest in full on the earlier of 30 June 2026 or the day before the 2026 annual meeting, contingent on continued board service.
• 16,294 Deferred RSUs whose settlement was voluntarily deferred by the director until 30 June 2030. Each Deferred RSU is economically equivalent to one Class A share.

The reported price for both grants is $0, reflecting compensation-based awards rather than open-market purchases. Following the transactions, Mr. Kugler beneficially owns the same number of derivative securities (as shown in the filing) and no change was reported for non-derivative share ownership.

Insights

Equity Compensation Analyst

TL;DR: Director granted 32,588 RSU-based awards; no cash outlay, modest alignment, limited trading signal.

The Form 4 discloses routine director compensation rather than insider buying. Because the awards carry a zero exercise price and are subject to a 12-month vesting schedule (or earlier annual-meeting trigger) plus an optional 5-year deferral, immediate dilution is minimal and fully anticipated under the company’s equity incentive plan. While the grant theoretically tightens management–shareholder alignment by expanding equity stakes, it does not represent a discretionary purchase that would convey incremental confidence about near-term fundamentals. Overall market impact is therefore muted.

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

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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^*

Anchorage Lending CA, LLC

(Last) (First) (Middle)

P.O. BOX - ONE EMBARCADERO CENTER #2409

(Street)

SAN FRANCISCO CA 94216

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Gryphon Digital Mining, Inc. [ GRYP ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2025

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

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

	Form filed by One Reporting Person
X	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	06/24/2025		M		2,000,000	A	$0.55	10,287,984	D(1)
Common Stock	06/24/2025		F(2)		1,110,102	D	$0.9909	9,177,882	D(1)
Common Stock	06/24/2025		M		3,530,198	A	$0.01	12,708,080	D(1)
Common Stock	06/24/2025		F(3)		35,626	D	$0.9909	12,672,454	D(1)

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
Warrant (right to buy)	$0.55	06/24/2025		M			2,000,000	10/25/2024	10/25/2034	Common Stock	2,000,000	$0	0	D(1)
Warrant (right to buy)	$0.01	06/24/2025		M			3,530,198	10/25/2024	10/25/2034	Common Stock	3,530,198	$0	0	D(1)

1. Name and Address of Reporting Person^*

Anchorage Lending CA, LLC

(Last) (First) (Middle)

P.O. BOX - ONE EMBARCADERO CENTER #2409

(Street)

SAN FRANCISCO CA 94216

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

1. Name and Address of Reporting Person^*

Anchor Labs, Inc.

(Last) (First) (Middle)

P.O. BOX - ONE EMBARCADERO CENTER #2409

(Street)

SAN FRANCISCO CA 94216

(City) (State) (Zip)

Relationship of Reporting Person(s) to Issuer

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

Explanation of Responses:

1. Anchorage Lending CA, LLC ("Anchorage Lending") is wholly owned by Anchor Labs, Inc., a Delaware corporation ("Anchor Labs"). Accordingly, Anchor Labs may be deemed to share beneficial ownership of the securities held of record by Anchorage Lending.

2. On June 24, 2025, Anchorage Lending exercised a warrant to purchase 2,000,000 shares of GRYP common stock for $0.55 a share. Anchorage Lending paid the exercise price on a cashless basis, resulting in GRYP's withholding of 1,110,102 of the warrant shares to pay the exercise price and issuing to Anchorage Lending the remaining 889,898 shares.

3. On June 24, 2025, Anchorage Lending exercised a warrant to purchase 3,530,198 shares of GRYP common stock for $0.01 a share. Anchorage Lending paid the exercise price on a cashless basis, resulting in GRYP's withholding of 35,626 of the warrant shares to pay the exercise price and issuing to Anchorage Lending the remaining 3,494,572 shares.

Remarks:

Dan Grigorin currently serves as Anchorage Lending's representative on the Issuer's board of directors, and therefore the Reporting Persons may each be deemed a "director by deputization" of the Issuer.

	Anchorage Lending CA, LLC By: /s/ Margaret Vaden, General Counsel	07/03/2025
	Anchor Labs, Inc. By: /s/ Margaret Vaden, General Counsel	07/03/2025
	** Signature of Reporting Person	Date
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FAQ

How many MNTS shares are covered by the new RSU grants?

The director received 32,588 derivative units (16,294 RSUs and 16,294 Deferred RSUs), each convertible into one Class A share.

When will the newly granted RSUs vest?

All 16,294 RSUs vest on 30 June 2026 or the day before the 2026 annual meeting, whichever comes first, subject to continued board service.

What distinguishes Deferred RSUs from regular RSUs in this filing?

Deferred RSUs postpone share delivery until 30 June 2030, allowing tax or timing flexibility, but carry the same economic value as common shares.

Did the director purchase MNTS stock on the open market?

No. The filing shows compensation-based RSU grants priced at $0; there were no open-market transactions.

Does the Form 4 indicate any change in cash compensation?

The document only details equity grants; it does not disclose cash compensation changes.