Director Anna El-Erian adds SSMR shares and receives RSU grant

Rhea-AI Filing Summary

Sunshine Silver Mining & Refining Co director Anna El‑Erian reported two stock transactions involving the company’s common shares. She made an open-market purchase of 40,000 shares at $13.50 per share, bringing her directly held common stock position to 48,929 shares after the purchase.

El‑Erian also received a grant of 8,929 restricted stock units (RSUs), a form of equity compensation with no cash cost to her. Each RSU represents one share of common stock and vests in full on the earlier of the first anniversary of the grant date or immediately before the company’s 2027 Annual Meeting of Stockholders, subject to her continued board service.

Insider Trade Summary

Net Buyer: 40,000 shares ($540,000)

Net Buy 2 txns

Insider El-Erian Anna

Role null

Bought 40,000 shs ($540K)

Type	Security	Shares	Price	Value
Grant/Award	Common Stock	8,929	$0.00	--
Purchase	Common Stock	40,000	$13.50	$540K

Holdings After Transaction: Common Stock — 8,929 shares (Direct, null)

Footnotes (1)

1. [object Object]

Key Figures

Open-market purchase: 40,000 shares Purchase price: $13.50 per share Shares held after purchase: 48,929 shares +3 more

6 metrics

Open-market purchase 40,000 shares Common Stock bought on 2026-06-05

Purchase price $13.50 per share Open-market common stock transaction

Shares held after purchase 48,929 shares Direct common stock ownership following purchase

RSU grant size 8,929 RSUs Grant/award acquisition of restricted stock units

RSU vesting condition Earlier of 1-year anniversary or 2027 meeting Vests if board service continues until that date

RSU grant price $0.00 per unit Equity compensation with no cash paid per RSU

Key Terms

restricted stock units ("RSUs"), open-market purchase, grant/award acquisition, Annual Meeting of Stockholders

4 terms

restricted stock units ("RSUs") financial

"Represents shares of restricted stock units ("RSUs") granted to the reporting person."

Restricted stock units (RSUs) are a company promise to give an employee shares of stock (or cash equivalent) in the future, but only after certain conditions—usually staying with the company for a set time or hitting performance goals—are met. Investors watch RSUs because when they vest they increase the number of shares outstanding and can lead insiders to sell shares, affecting share price, company dilution and the true cost of employee pay.

open-market purchase financial

"transaction_action": "open-market purchase""

An open-market purchase is when an investor or a company buys shares on a public stock exchange at the going market price, rather than through a private deal. It matters to investors because these purchases change how many shares are available, can push the stock price up or signal confidence from large buyers, and often affect per-share metrics like earnings—think of it like someone buying lots of apples off a grocery shelf, reducing supply and potentially raising the price.

grant/award acquisition financial

"transaction_action": "grant/award acquisition""

Annual Meeting of Stockholders financial

"immediately proceeding the date of the Issuer's 2027 Annual Meeting of Stockholders"

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Form 4 Insider Transactions: What Each Field Means →

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
Estimated average burden
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^*

El-Erian Anna

(Last) (First) (Middle)

2209 BIG CREEK RD

(Street)

KELLOGG IDAHO 83837

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Sunshine Silver Mining & Refining Co [ SSMR ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/05/2026

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

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

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

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	06/05/2026		A		8,929(1)	A	$0	8,929	D
Common Stock	06/05/2026		P		40,000	A	$13.5	48,929	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. Represents shares of restricted stock units ("RSUs") granted to the reporting person. Each RSU represents a contingent right to receive one share of the Issuer's common stock. The RSUs vest in full on the earlier of (i) the first anniversary of the grant date or (ii) the day immediately proceeding the date of the Issuer's 2027 Annual Meeting of Stockholders, subject to the reporting person's continued service as a member of the Issuer's Board of Directors through such date.

	/s/ Michelle Shepston, as attorney-in-fact	06/08/2026
	** 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.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transactions did Anna El-Erian report for Sunshine Silver Mining (SSMR)?

Anna El-Erian reported buying 40,000 SSMR common shares in the open market and receiving 8,929 restricted stock units. The purchase was at $13.50 per share, while the RSUs were granted as equity compensation with no cash paid per unit.

At what price did Anna El-Erian buy Sunshine Silver Mining (SSMR) shares?

She purchased 40,000 shares of Sunshine Silver Mining common stock at $13.50 per share. This open-market transaction increased her directly held position to 48,929 shares following the trade, according to the reported post-transaction ownership figure.

How many Sunshine Silver Mining (SSMR) shares does Anna El-Erian hold after the purchase?

After the open-market purchase, Anna El-Erian directly holds 48,929 SSMR common shares. This figure reflects her updated ownership following the 40,000-share transaction reported in the Form 4 as a non-derivative, open-market purchase of common stock.

What restricted stock units did Anna El-Erian receive from Sunshine Silver Mining (SSMR)?

She received a grant of 8,929 restricted stock units, each representing one SSMR common share. These RSUs were acquired at a reported price of $0.00 per unit as equity compensation, separate from her open-market share purchase activity.

When do Anna El-Erian’s Sunshine Silver Mining (SSMR) RSUs vest?

The 8,929 RSUs vest in full on the earlier of the first anniversary of the grant date or immediately before Sunshine Silver Mining’s 2027 Annual Meeting of Stockholders, provided she continues serving on the company’s Board of Directors through that vesting date.

Are Anna El-Erian’s Sunshine Silver Mining (SSMR) RSUs equivalent to common shares today?

The RSUs are not common shares until they vest and settle, but each represents a contingent right to one SSMR common share. Their value depends on future vesting and is conditioned on her continued service on the Board of Directors.