[Form 4] enCore Energy Corp. Insider Trading Activity

Rhea-AI Filing Summary

enCore Energy insider award: William M. Sheriff, Executive Chairman and director, was granted 320,000 stock options on 09/24/2025 under the companys Long Term Incentive Plan. The options have a stated conversion/exercise price of $3.1 and expire on 09/24/2028. They vest in four equal tranches: one-fourth on 03/24/2026, one-fourth on 09/24/2026, one-fourth on 03/24/2027 and one-fourth on 09/24/2027. The Form 4 was filed by one reporting person and signed by an attorney-in-fact on 09/26/2025.

Insights

Financial Analyst

TL;DR: Executive chairman received 320,000 options with a $3.1 exercise price and multi-year vesting; impact is routine but dilutive upon exercise.

The grant of 320,000 options is a standard long-term incentive award under the companys plan. The $3.1 exercise price and three-year term to expiration (09/24/2028) indicate a time-limited retention and potential upside if share price exceeds the strike. Vesting in four equal instalments over two years creates multi-period alignment with management performance or tenure. For investors, the near-term cash impact is minimal, but potential dilution exists if options are exercised.

Corporate Governance Expert

TL;DR: Grant to Executive Chairman follows typical governance practice; vesting schedule aligns incentives over multiple periods.

The award to William M. Sheriff is disclosed as a non-derivative grant of options pursuant to the Long Term Incentive Plan and includes explicit vesting milestones. The disclosure identifies his roles as Executive Chairman and director and the filing complies with Section 16 reporting by providing transaction and filing dates. The document shows execution by attorney-in-fact, which is acceptable when properly authorized.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider SHERIFF WILLIAM M

Role Executive Chairman

Type	Security	Shares	Price	Value
Grant/Award	Stock Options	320,000	$0.00	--

Holdings After Transaction: Stock Options — 0 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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).

1. Name and Address of Reporting Person^*

SHERIFF WILLIAM M

(Last) (First) (Middle)

5950 BERKSHIRE LANE, SUITE 210

(Street)

DALLAS TX 75225

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
enCore Energy Corp. [ EU ]

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

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

3. Date of Earliest Transaction (Month/Day/Year)
09/24/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

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)
			Code	V	Amount	(A) or (D)	Price

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)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Stock Options	$3.1	09/24/2025		A		320,000		(1)	09/24/2028	Common Shares	320,000	$0	0	D

Explanation of Responses:

1. On September 24, 2025, the reporting person was granted 320,000 stock options of enCore Energy Corp. (the "Company") pursuant to the Company's Long Term Incentive Plan. The stock options vest and become exercisable one-fourth on March 24, 2026, one-fourth on September 24, 2026, one-fourth on March 24, 2027 and one-fourth on September 24, 2027.

	/s/ Robert Willette, as attorney-in-fact for William Sheriff	09/26/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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