McEwen Inc. (MUX) VP Corporate Development reports RSU vesting

Rhea-AI Filing Summary

McEwen Inc. officer reports accelerated RSU vesting and cash settlement. A company officer, listed as VP Corporate Development, reported activity in restricted stock units tied to McEwen Inc. common stock. One RSU grant made on August 11, 2025 had its vesting schedule amended so the second vesting event moved from December 28, 2025 to December 20, 2025, causing 1,200 units to vest and be settled entirely in cash on that date, with remaining units scheduled to vest on June 28, 2026. A second RSU grant made on September 8, 2025 was amended in the same way, leading to 500 units vesting and being settled for cash on December 20, 2025, with the balance also scheduled to vest on June 28, 2026. Each RSU represents a contingent right to receive one share of common stock or its cash value, at the discretion of the board committee.

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

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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^*

Spears Stephan Michael

(Last) (First) (Middle)

C/O MCEWEN INC.

150 KING STREET WEST, SUITE 2800

(Street)

TORONTO A6 M5H 1J9

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
McEwen Inc. [ MUX ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	VP Corporate Development

3. Date of Earliest Transaction (Month/Day/Year)
12/20/2025

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
Restricted Stock Units	(1)	12/20/2025		M			1,200	(2)	(2)	Common Stock	1,200	$0	1,200	D
Restricted Stock Units	(1)	12/20/2025		M			500	(3)	(3)	Common Stock	500	$0	500	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock, or the cash value thereof as set forth in the award agreement, in the discretion of the Issuer's Compensation, Nominating & Corporate Governance Committee.

2. The restricted stock units were granted on August 11, 2025. Subsequently, the vesting schedule of the restricted stock units was amended to accelerate the second vesting event from December 28, 2025 to December 20, 2025. Accordingly, the restricted stock units vested as to 1,200 shares on December 20, 2025, all of which were settled for cash. The restricted stock units will vest as to the remaining shares on June 28, 2026.

3. The restricted stock units were granted on September 8, 2025. Subsequently, the vesting schedule of the restricted stock units was amended to accelerate the second vesting event from December 28, 2025 to December 20, 2025. Accordingly, the restricted stock units vested as to 500 shares on December 20, 2025, all of which were settled for cash. The restricted stock units will vest as to the remaining shares on June 28, 2026.

	/s/ Stephan Michael Spears	12/23/2025
	** 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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FAQ

Who is the reporting person in this McEwen Inc. (MUX) Form 4 filing?

The reporting person is an officer of McEwen Inc., identified as the VP Corporate Development, who files individually as one reporting person.

What type of securities are involved in this McEwen Inc. (MUX) insider transaction?

The transactions involve restricted stock units (RSUs), each representing a contingent right to receive one share of McEwen Inc. common stock or its cash value, as determined by the company’s Compensation, Nominating & Corporate Governance Committee.

How many McEwen Inc. (MUX) RSUs vested and when did they vest?

On December 20, 2025, one RSU grant vested as to 1,200 units and another vested as to 500 units, for a total of 1,700 vested RSUs on that date.

Were the vested McEwen Inc. (MUX) RSUs settled in shares or cash?

The filing states that both the 1,200 vested RSUs from the August 11, 2025 grant and the 500 vested RSUs from the September 8, 2025 grant were settled for cash on December 20, 2025.

When were the McEwen Inc. (MUX) RSUs originally granted and how was the vesting schedule changed?

One RSU grant was made on August 11, 2025 and another on September 8, 2025. For both, the second vesting event was amended to move from December 28, 2025 to December 20, 2025, causing earlier vesting on that new date.

When will the remaining McEwen Inc. (MUX) RSUs vest after this Form 4 transaction?

For both RSU grants described, the filing states that the remaining restricted stock units will vest on June 28, 2026.