Director at McEwen (ticker: MUX) receives 479 deferred stock units

Rhea-AI Filing Summary

Darveau-Garneau Nicolas reported acquisition or exercise transactions in this Form 4 filing.

McEwen Inc. director Nicolas Darveau-Garneau was granted 479 deferred stock units (DSUs). Each DSU represents one share of McEwen common stock. The units are fully vested and will be delivered when his continuous service on the Board ends, with an option to further defer delivery.

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

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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^*

Darveau-Garneau Nicolas

(Last) (First) (Middle)

C/O MCEWEN INC.

150 KING STREET WEST, SUITE 2800

(Street)

TORONTO M5H 1J9

(City) (State) (Zip)

ONTARIO, CANADA

(Country)

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

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

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/19/2026

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

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

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

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
Deferred Stock Units	(1)	03/19/2026		A		479		(2)	(2)	Common Stock	479	$0	479	D

Explanation of Responses:

1. Each deferred stock unit represents a right to receive one share of the Issuer's common stock.

2. The deferred stock units are fully vested and will be delivered to the reporting person on the date of the reporting person's termination of continuous service from the Issuer's Board of Directors (the "Board"), subject to the reporting person's right to elect to defer delivery of the deferred stock units beyond the date of the reporting person's termination of continuous service from the Board.

	/s/ Nicolas Darveau-Garneau	03/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)

FAQ

What insider transaction did McEwen Inc. (MUX) report for Nicolas Darveau-Garneau?

McEwen Inc. reported a grant of 479 deferred stock units to director Nicolas Darveau-Garneau. This is a compensation-related award, not an open-market trade, and increases his right to receive the same number of McEwen common shares in the future.

What does each deferred stock unit represent for McEwen Inc. (MUX)?

Each deferred stock unit represents the right to receive one share of McEwen Inc. common stock. This means 479 units correspond to 479 future common shares, aligning the director’s compensation directly with the company’s equity performance over time.

When will the McEwen Inc. (MUX) deferred stock units be delivered to the director?

The deferred stock units will be delivered when Nicolas Darveau-Garneau’s continuous service on McEwen’s Board ends. He also has the right to elect to defer delivery even further beyond the date his Board service terminates, extending the deferral period.

Are the McEwen Inc. (MUX) deferred stock units granted to the director vested?

The deferred stock units granted to Nicolas Darveau-Garneau are fully vested at grant. Although fully vested, actual delivery of the corresponding McEwen common shares occurs only upon the end of his continuous Board service, subject to any elected additional deferral.

How many McEwen Inc. (MUX) deferred stock units does the director hold after this transaction?

After this transaction, Nicolas Darveau-Garneau holds 479 deferred stock units. Each unit entitles him to receive one share of McEwen common stock in the future, reflecting his accumulated equity-based Board compensation as shown in this filing.

Is the McEwen Inc. (MUX) Form 4 transaction a buy or sell in the market?

The Form 4 transaction is an acquisition through a grant or award, not a market buy or sell. It reflects deferred stock units granted as compensation for Board service, rather than shares purchased or sold on a stock exchange by the director.