McEwen Inc. (MUX) VP Finance details RSU vesting and stock received

Rhea-AI Filing Summary

McEwen Inc.'s VP Finance reported equity compensation activity involving restricted stock units and common shares. On December 20, 2025, the officer exercised restricted stock units (coded "M" for conversion) that delivered 588 and 275 shares of McEwen Inc. common stock in two transactions. After these transactions, the officer directly owned 3,691 and 3,966 common shares, respectively.

The filing also details two restricted stock unit awards that converted into common stock on December 20, 2025. One award covered 1,266 shares of common stock and another covered 533 shares, each at an exercise price of $0. The vesting schedules for both awards had previously been amended to accelerate a vesting event from December 28, 2025 to December 20, 2025, with a portion of the vested units settled in cash and the remaining units scheduled to vest on June 28, 2026.

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^*

Chan Jeffrey

(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 - Finance

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
Common Stock	12/20/2025		M		588	A	(1)	3,691	D
Common Stock	12/20/2025		M		275	A	(1)	3,966	D

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			1,266	(2)	(2)	Common Stock	1,266	$0	1,266	D
Restricted Stock Units	(1)	12/20/2025		M			533	(3)	(3)	Common Stock	533	$0	533	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 1,266 shares on December 20, 2025, of which 678 shares 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 533 shares on December 20, 2025, of which 258 shares settled for cash. The restricted stock units will vest as to the remaining shares on June 28, 2026.

	/s/ Jeffrey Chan	12/23/2025
	** Signature of Reporting Person	Date
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FAQ

What insider transaction did McEwen Inc. (MUX) report for its VP Finance?

The VP Finance of McEwen Inc. reported the conversion of restricted stock units into common stock on December 20, 2025. Two transactions delivered 588 and 275 common shares, increasing the officer’s directly held common stock as reflected in the post-transaction balances.

How many McEwen Inc. (MUX) restricted stock units vested on December 20, 2025?

On December 20, 2025, one award of restricted stock units vested as to 1,266 shares of common stock and another vested as to 533 shares. Each restricted stock unit represents the right to receive one share of McEwen Inc. common stock or its cash value, at the discretion described in the award terms.

Were the McEwen Inc. (MUX) restricted stock unit vesting dates changed?

Yes. For both restricted stock unit grants described, the vesting schedule was amended to accelerate a vesting event from December 28, 2025 to December 20, 2025. The remaining units from each grant are scheduled to vest on June 28, 2026.

Did any of the McEwen Inc. (MUX) restricted stock units settle in cash?

Yes. For the 1,266-unit grant, 678 shares’ worth of units settled for cash, and for the 533-unit grant, 258 shares’ worth of units settled for cash. The balance of the vested units converted into McEwen Inc. common stock.

What is the role of the reporting person in McEwen Inc. (MUX)?

The reporting person is identified as an officer of McEwen Inc., holding the title VP - Finance. The Form 4 indicates that the filing is made by one reporting person in this capacity.

What does the $0 exercise price for McEwen Inc. (MUX) restricted stock units mean?

The derivative table shows an exercise or conversion price of $0 for the restricted stock units. This indicates that, upon vesting, the units convert into McEwen Inc. common stock (or its cash value as described) without an additional purchase price paid by the officer.