[Form 4] RYERSON HOLDING CORPORATION Insider Trading Activity

Rhea-AI Filing Summary

LogicMark, Inc. (LGMK) – Form 4 insider transaction dated 07/01/2025

Director Robert A. Curtis reported the grant of 2,500,000 stock options under Table II. The options:

• Exercise/Conversion Price: $0.004 per share (effectively near-zero cost).
• Date Exercisable: immediate on 07/01/2025.
• Expiration: 06/30/2035 (10-year term).
• Underlying security: common stock, one share per option.

The filing states the award was received as quarterly compensation for board service for the period ended 06/30/2025. After the transaction, Curtis beneficially owns 2.5 million derivative securities, held directly. No non-derivative share holdings were disclosed.

The Form 4 contains no sales, open-market purchases, or other equity movements, and no additional reporting persons.

Key takeaways for investors:

• The option strike price is far below LGMK’s recent trading range, implying high intrinsic value if exercised and potential dilution if converted.
• The grant strengthens director equity alignment, but shareholders should monitor aggregate option overhang and possible future exercises.
• With only a single insider involved and no cash transaction, the immediate financial impact is limited; materiality depends on LogicMark’s total share count, which is not provided in the filing.

Positive

• Director equity alignment: Grant ties board compensation directly to shareholder value.
• No insider selling: Filing shows only an award, with zero shares sold or disposed of.

Negative

• Potential dilution: 2.5 million options at $0.004 could expand share count materially once exercised.
• Lack of performance conditions: Options appear to vest immediately, offering value without performance hurdles.

Insights

Corporate Governance Expert

TL;DR: Standard board compensation via very low-priced options; neutral impact with dilution considerations.

From a governance standpoint, compensating directors with equity encourages long-term alignment. However, the $0.004 strike effectively functions like free shares, magnifying dilution risk if the company has a modest float. The 10-year term further extends potential overhang. Absent other incentive metrics (vesting, performance hurdles), investors should assess whether the award size aligns with peer practices and board contribution. No red flags on compliance—the Form 4 was filed timely and signed.

Small-Cap Portfolio Manager

TL;DR: Option grant raises overhang but signals insider confidence; overall neutral for valuation today.

At roughly two and a half million options, the grant could be material if LogicMark’s outstanding shares are low, yet no immediate cash outlay occurs. Because the strike is a fraction of a cent, Curtis would almost certainly exercise once the shares trade above this level, adding supply to the market. Still, insiders rarely accept worthless securities; the grant may reflect belief in future upside. For now, no buy/sell action solely on this filing; await next 10-Q for share count and dilution analysis.

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^*

Leggio Karen Marie

(Last) (First) (Middle)

C/O RYERSON HOLDING CORP.

227 W. MONROE ST., 27TH FLOOR

(Street)

CHICAGO IL 60606

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Ryerson Holding Corp [ RYI ]

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)
06/30/2025

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)	06/30/2025		A		405(1)	A	$0	4,154	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. Reflects compensation in the form of equity received pursuant to Ryerson's Director Compensation Program. The award vested in full on the grant date.

	/s/ Camilla Rykke Merrick, attorney-in-fact	07/02/2025
	** 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.
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FAQ

What did LogicMark (LGMK) disclose in the July 2025 Form 4?

The filing shows Director Robert A. Curtis received 2,500,000 stock options at a $0.004 strike on 07/01/2025.

Are there any insider sales of LGMK stock in this Form 4?

No. The Form 4 reports only an award of options; no shares were sold or purchased on the open market.

What is the exercise price and term of the LGMK options granted?

The options have a $0.004 exercise price and expire on 06/30/2035 (10-year term).

How many LGMK shares could be issued if all reported options are exercised?

If fully exercised, 2,500,000 new common shares could be issued to the director.

Why were the options granted to Robert A. Curtis?

The filing states they were compensation for board service for the quarter ended 06/30/2025.

Does the grant immediately impact LogicMark’s earnings?

The award is non-cash; no immediate earnings impact is disclosed, though dilution may affect future EPS.