I have everything connected in my desk, using regular PC ATX Power Supply and getting 12V from one of the Molex connectors to power up the M2-ATX.

Measuring the Yellow pin of the Molex connector from the regular PC ATX Power Supply, it reads 12V (around that).

But, I am measuring the same thing from the Molex that goes out from the M2-ATX, and it is reading 15V.

Is this expected?