X0306 4 2016-06-30 0 0000701719 DGSE COMPANIES INC DGSE 0001663123 NOEL MICHAEL J. 15850 DALLAS PARKWAY, SUITE 140 DALLAS TX 75248 1 0 0 0 Common Stock 2016-06-30 4 M 0 10170 A 20340 D Restricted Stock Units 2016-06-30 4 M 0 10170 D 2016-06-30 Common Stock 10170 20340 D Each vested Restricted Stock Unit ("RSU") is convertible into one share of common stock, par value $0.01, of the Issuer (the "Common Stock") without additional consideration (other than such conversion and reduction in the number of RSUs held) pursuant to the terms of the Restricted Stock Unit Award Agreement, dated March 24, 2016, between the Issuer and the Reporting Person. Upon termination of service of the Reporting Person to the Issuer, other than by reason of death or disability, any RSUs held by the Reporting Person that have not vested will be forfeited and the award of such RSUs shall terminate. The Issuer elected to award the RSUs as consideration for services rendered to the Issuer (the "Consideration") and to encourage the continuation of such services in connection with the Reporting Person's services with the Issuer. The value of the Consideration on the date of grant was $22,374. No additional consideration was received by the Issuer as payment for the RSUs. /s/ Michael J. Noel 2016-07-01