Martin Lorraine M 4

What Happened
Martin Lorraine, a director of IPERIONX Ltd (IPX), made an open-market purchase of 4,755 American Depositary Shares (ADSs) on April 28, 2026, at an average price of $31.46 per ADS, for a total of about $149,615. The filing classifies the transaction as a derivative purchase; each ADS is exchangeable for ten ordinary shares.

Key Details

• Transaction date: 2026-04-28; Form 4 filed 2026-04-30 (appears timely, within two business days).
• Security and amount: 4,755 ADSs purchased at $31.46 average price; total consideration ≈ $149,615.
• Shares owned after transaction: Not specified in the Form 4 filing.
• Notable footnotes from the filing:
  • Ordinary shares trade on the Australian Securities Exchange (ASX).
  • ADSs trade on Nasdaq; 1 ADS = 10 ordinary shares.
  • Footnote on vesting: 76,054 vest in Dec 2026 and 14,162 vest in Dec 2027 (relates to other awards disclosed).
  • The reported $31.46 is the average price per ADS purchased.

Context
This was a purchase (a net insider buy), which many investors view as a potentially positive signal because insiders are adding to holdings. The trade involved ADSs (U.S. depositary receipts) that represent underlying ordinary shares listed on the ASX — 4,755 ADSs correspond to 47,550 ordinary shares. The filing is factual and does not state the insider’s motive.