Perry Ing Receives Stock Option and RSU Awards at McEwen (MUX)

Rhea-AI Filing Summary

McEwen Inc. (MUX) reported equity awards to its Chief Financial Officer, Perry Ing, reflecting a compensation grant recorded on 08/11/2025. The grant consists of 50,000 stock options with an exercise price of $10.43 and 5,600 restricted stock units (RSUs). After the reported transactions the reporting person beneficially owns 50,000 option rights and 5,600 RSU rights shown on the form as direct holdings.

The option award vests in three equal annual installments beginning August 11, 2026 and the option has an indicated expiration or last date of 08/11/2030. Each RSU represents a contingent right to one share (or cash at the issuer's discretion) and will vest in three approximately equal installments on December 29, 2025, June 29, 2026 and December 29, 2026. The Form 4 lists these as acquisitions (Transaction Code A) and identifies the awards as direct beneficial ownership.

Positive

• 50,000 stock options and 5,600 RSUs were granted to the CFO, indicating management retention incentives
• Option exercise price is explicitly stated as $10.43, providing clear terms for the award
• Vesting schedules are multi-year and clearly documented, with specific vesting dates for both options and RSUs

Negative

• Potential dilution of up to 55,600 shares if options are exercised and RSUs settled in stock
• RSU settlement may be in cash at the Compensation Committee's discretion, which can affect future share count clarity
• Options do not vest immediately; first option vesting begins on 08/11/2026, limiting near-term liquidity for the holder

Insights

Financial Analyst

TL;DR: CFO received 50,000 options at $10.43 and 5,600 RSUs; routine multi-year incentive with limited immediate market impact.

The Form 4 shows a compensation-related equity grant to CFO Perry Ing recorded on 08/11/2025. The 50,000 stock options carry a stated exercise price of $10.43 and vest in three equal annual installments starting 08/11/2026, with the option term noted through 08/11/2030. The 5,600 RSUs vest in three approximately equal installments on the specific dates provided and may be settled in shares or cash at the Compensation Committee's discretion. From a financial perspective, these awards represent standard retention and performance-linked pay; the Form 4 does not disclose any immediate cash proceeds or sales by the reporting person.

Corporate Governance Expert

TL;DR: Grants follow standard governance practices with multi-year vesting and committee discretion over RSU settlement; disclosure is routine.

The filing explicitly documents that the RSUs are subject to settlement in either common stock or cash as determined by the issuer's Compensation, Nominating & Corporate Governance Committee. Vesting schedules for both awards are staggered across multiple dates, aligning timing with standard retention frameworks. The Form 4 identifies the transactions as acquisitions (Code A) and lists ownership as direct. No amendments, dispositions, or sales of previously held securities are shown in this filing.

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
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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^*

Ing Perry

(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)
	Chief Financial Officer

3. Date of Earliest Transaction (Month/Day/Year)
08/11/2025

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 Option (right to buy)	$10.43	08/11/2025		A		50,000		(1)	08/11/2030	Common Stock	50,000	$0	50,000	D
Restricted Stock Units	(2)	08/11/2025		A		5,600		(3)	(3)	Common Stock	5,600	$0	5,600	D

Explanation of Responses:

1. The option vests in three equal annual installments, beginning August 11, 2026.

2. 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.

3. The restricted stock units will vest in three approximately equal installments on each of December 29, 2025, June 29, 2026 and December 29, 2026.

	/s/ Perry Ing	08/13/2025
	** 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

What equity awards did Perry Ing receive according to the MUX Form 4?

The Form 4 reports acquisition of 50,000 stock options and 5,600 restricted stock units (RSUs) by Perry Ing.

What is the exercise price for the stock options granted to the CFO (MUX)?

The reported exercise price for the stock options is $10.43 per share.

When do the options and RSUs vest according to the filing?

The options vest in three equal annual installments beginning 08/11/2026. The RSUs vest in three approximately equal installments on 12/29/2025, 06/29/2026, and 12/29/2026.

How many shares could result from these awards if fully exercised/settled?

If the options are exercised and RSUs settled in stock, the awards represent up to 55,600 underlying shares (50,000 options + 5,600 RSUs).

Are the RSUs payable only in shares?

No. The RSU award notes each unit may be settled in one share of common stock or cash at the issuer's Compensation Committee discretion.