The Dark Shaper was a Transcendent Memory of the Fourth Tier that Nephis had gained in Antarctica. It was one of the few she had chosen to keep — the rest either went to the Fire Keepers or were sold to acquire various equipment and resources.
Being the leader of a group of elite Awakened was not cheap. Even with the support of Clan Valor, Neph had to work hard to provide her followers with the best... everything. Perhaps it was a part of the King of Swords testing her competency, or perhaps the great clan simply didn't care to spend too much on the survivors of the Forgotten Shore before they proved themselves.
In any case, Nephis had decided to keep the Dark Shaper for herself.
The reason she had decided to hold on to the stone mallet was both because of its power and because its description mentioned the Demon of Dread.