How are IPERIONX (IPX) American Depository Shares related to ordinary shares?

One IPERIONX American Depository Share is convertible into 10 ordinary shares. The ADSs trade on NASDAQ, while the underlying ordinary shares trade on the Australian Stock Exchange, linking U.S. investors to the Australian-listed equity.

Insider at IPERIONX (NASDAQ: IPX) adds 11,000 ADS stake

Filing Impact

(High)

Filing Sentiment

(Positive)

Form Type

Rhea-AI Filing Summary

IPERIONX Ltd President Toby Edgcumbe Symonds made an open‑market purchase of 11,000 American Depository Shares (ADS) of IPERIONX at an average price of $23.8684 per ADS. Each ADS represents 10 ordinary shares traded on the Australian Stock Exchange.

After this transaction, he directly holds 11,000 ADS, 3,188,146 ordinary shares, and 703,199 Restricted Stock Units. He also holds performance rights over ordinary shares with exercise prices of A$4, A$6, A$7 and A$8, exercisable or expiring between December 2028 and April 2030.

Insider Trade Summary

Net Buyer: 11,000 shares ($262,552)

Net Buy 7 txns

Insider Symonds Toby Edgcumbe

Role President

Bought 11,000 shs ($263K)

Type	Security	Shares	Price	Value
Purchase	American Depository Shares	11,000	$23.8684	$263K
holding	Performance Rights (A$6)	--	--	--
holding	Performance Rights (A$7)	--	--	--
holding	Performance Rights (A$8)	--	--	--
holding	Performance Rights (A$4)	--	--	--
holding	Ordinary Shares	--	--	--
holding	Restricted Stock Units (RSUs)	--	--	--

Holdings After Transaction: American Depository Shares — 11,000 shares (Direct); Performance Rights (A$6) — 415,695 shares (Direct); Performance Rights (A$7) — 415,695 shares (Direct); Performance Rights (A$8) — 415,695 shares (Direct); Performance Rights (A$4) — 1,110,000 shares (Direct); Ordinary Shares — 3,188,146 shares (Direct); Restricted Stock Units (RSUs) — 703,199 shares (Direct)

Footnotes (1)

American Depository Shares (ADS) are traded on the NASDAQ. One ADS is convertible into 10 ordinary shares (ordinary shares are traded on the Australian Stock Exchange). This is the average purchase price. Ordinary Shares are traded on the Australian Stock Exchange. 302,666 vest in December 2026; 400,533 vest in April 2028 Australian dollars.

Key Figures

ADS purchased: 11,000 ADS Purchase price per ADS: $23.8684 per ADS ADS held after transaction: 11,000 ADS +5 more

8 metrics

ADS purchased 11,000 ADS Open-market purchase on 2026-03-27

Purchase price per ADS $23.8684 per ADS Average purchase price

ADS held after transaction 11,000 ADS Direct ownership following purchase

Ordinary shares held 3,188,146 shares Direct ordinary share holding

RSUs held 703,199 units Restricted Stock Units outstanding

Performance rights A$4 1,110,000 underlying shares Exercise price A$4, expires 2028-12-21

Performance rights A$6 415,695 underlying shares Exercise price A$6, expires 2030-04-10

Performance rights A$7 415,695 underlying shares Exercise price A$7, expires 2030-04-10

Key Terms

American Depository Shares, Ordinary Shares, Restricted Stock Units (RSUs), Performance Rights, +1 more

5 terms

American Depository Shares financial

"security_title: American Depository Shares"

American depository shares are U.S.-listed securities that stand in for a foreign company’s ordinary shares, held by a U.S. bank which issues the ADS so investors can trade the foreign stock in U.S. dollars and on U.S. exchanges. Think of them like a locally wrapped version of a foreign product—easier to buy and sell at home—but they still carry risks from currency differences, foreign rules and potential limits on voting rights, so they affect access, liquidity and investment risk.

Ordinary Shares financial

"security_title: Ordinary Shares"

Ordinary shares are a type of ownership stake in a company, giving shareholders a right to participate in the company’s profits and decision-making through voting. They are similar to owning a piece of a business, and their value can rise or fall based on the company's performance. Investors buy ordinary shares to potentially earn dividends and benefit from the company's growth over time.

Restricted Stock Units (RSUs) financial

"security_title: Restricted Stock Units (RSUs)"

Restricted stock units (RSUs) are a type of company promise to give employees shares of stock in the future, usually after certain conditions like working for a set time. They are like a gift promised today that you receive later, which can become valuable if the company's stock price goes up. RSUs matter because they are a way companies reward employees and can be a significant part of compensation.

Performance Rights financial

"security_title: Performance Rights (A$6)"

Performance rights are conditional awards that give employees or executives the promise of receiving company shares or cash only if the business meets specific targets or survives for a set period. They work like a bonus you only get when certain goals are hit, so they matter to investors because they can increase the number of shares outstanding (dilution), signal management’s incentives and confidence in future results, and affect per-share earnings and valuation.

Australian dollars financial

"Footnote: Australian dollars."

Form 4 Insider Transactions: What Each Field Means →

03/30/2026 - 09:23 AM

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^*

Symonds Toby Edgcumbe

(Last)

(First)

(Middle)

1092 CONFROY DRIVE

(Street)

SOUTH BOSTON

VIRGINIA

24592

(City)

(State)

(Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
IPERIONX Ltd [ IPX ]

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/27/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
American Depository Shares⁽¹⁾	03/27/2026		P		11,000	A	$23.8684⁽²⁾	11,000	D
Ordinary Shares⁽³⁾								3,188,146	D
Restricted Stock Units (RSUs)⁽⁴⁾								703,199	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Performance Rights (A$6)	$6⁽⁵⁾							04/10/2029	04/10/2030	Ordinary Shares⁽³⁾	415,695		415,695	D
Performance Rights (A$7)	$7⁽⁵⁾							04/10/2029	04/10/2030	Ordinary Shares⁽³⁾	415,695		415,695	D
Performance Rights (A$8)	$8⁽⁵⁾							04/10/2029	04/10/2030	Ordinary Shares⁽³⁾	415,695		415,695	D
Performance Rights (A$4)	$4⁽⁵⁾							12/21/2028	12/21/2028	Ordinary Shares⁽³⁾	1,110,000		1,110,000	D

Explanation of Responses:

1. American Depository Shares (ADS) are traded on the NASDAQ. One ADS is convertible into 10 ordinary shares (ordinary shares are traded on the Australian Stock Exchange).

2. This is the average purchase price.

3. Ordinary Shares are traded on the Australian Stock Exchange.

4. 302,666 vest in December 2026; 400,533 vest in April 2028

5. Australian dollars.

	Michael Spath	03/30/2026
	** 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)

Source: View Original Filing on SEC EDGAR

FAQ

What did IPERIONX (IPX) President Toby Symonds do in this Form 4 filing?

Toby Symonds reported buying 11,000 American Depository Shares of IPERIONX in an open-market transaction at an average price of $23.8684 per ADS. This Form 4 also lists his existing ordinary share, RSU and performance right holdings in the company.

How many IPERIONX (IPX) shares does Toby Symonds hold after the reported trade?

After the transaction, Toby Symonds directly holds 11,000 American Depository Shares, 3,188,146 ordinary shares, and 703,199 Restricted Stock Units. He also has multiple performance rights over additional ordinary shares, each with specified Australian dollar exercise prices and future vesting or expiry dates.

At what price did the IPERIONX (IPX) insider purchase the ADS shares?

The 11,000 American Depository Shares were purchased at an average price of $23.8684 per ADS. A footnote clarifies this is the average purchase price. Each ADS is convertible into 10 ordinary shares listed on the Australian Stock Exchange.

What are the performance rights disclosed for IPERIONX (IPX) President Toby Symonds?

The filing shows performance rights over ordinary shares with exercise prices of A$4, A$6, A$7 and A$8. These rights relate to underlying ordinary shares and have exercise or expiration dates between December 2028 and April 2030, subject to their specific vesting conditions.

What Restricted Stock Units (RSUs) holdings are reported for IPERIONX (IPX) insider Toby Symonds?

The Form 4 reports that Toby Symonds holds 703,199 Restricted Stock Units. A related footnote states that 302,666 RSUs vest in December 2026 and 400,533 vest in April 2028, providing a schedule for when these equity awards may convert into ordinary shares.