MUX Insider: Alfred Aguilar Colas Acquires 10,000 Options, Expires 2030

Rhea-AI Filing Summary

Alfred Aguilar Colas, identified as a director of McEwen Inc. (MUX), acquired 10,000 stock options on 08/11/2025 with an exercise price of $10.43. The options cover 10,000 shares of common stock, are reported as directly beneficially owned following the transaction, and have an expiration date of 08/11/2030.

The filing states the options vest in three equal annual installments beginning 08/11/2026. The transaction is reported as an acquisition (code "A") and the form indicates it was filed by one reporting person.

Positive

• Director grant disclosed: 10,000 stock options acquired by Alfred Aguilar Colas with an exercise price of $10.43.
• Clear vesting schedule: Options vest in three equal annual installments beginning 08/11/2026.
• Direct beneficial ownership: Reporting person is shown as directly owning 10,000 derivative securities following the transaction.

Negative

• None.

Insights

Financial Analyst

TL;DR: Director granted 10,000 options at $10.43, expiring 08/11/2030; vesting spreads over three years—routine compensation disclosure.

The Form 4 shows Alfred Aguilar Colas received 10,000 stock options on 08/11/2025 with an exercise price of $10.43 and an expiration of 08/11/2030. The options are reported as directly beneficially owned after the grant and are scheduled to vest in three equal annual installments beginning 08/11/2026. The transaction is coded as an acquisition and the filing was made by one reporting person. Based solely on the filing details, this appears to be a routine director option grant with no additional terms or cash consideration disclosed beyond the exercise price and vesting schedule.

Corporate Governance Expert

TL;DR: Grant follows a multi-year vesting schedule; disclosure meets Section 16 reporting requirements for a director-level equity award.

The disclosure identifies the reporting person as a director and records a 10,000-option award with explicit vesting: three equal annual installments beginning 08/11/2026. The form records direct beneficial ownership of 10,000 derivative securities after the acquisition and lists the transaction code as "A" for acquisition. The option's exercise price ($10.43) and expiration (08/11/2030) are specified. The filing documents the award and the vesting timeline without additional contingencies or related-party arrangements disclosed in the form.

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).

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^*

Colas Alfred Aguilar

(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)

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

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		10,000		(1)	08/11/2030	Common Stock	10,000	$0	10,000	D

Explanation of Responses:

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

	/s/ Alfred Aguilar Colas	08/13/2025
	** 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.

FAQ

What transaction was reported for McEwen Inc. (MUX)?

Acquisition of 10,000 stock options by Alfred Aguilar Colas on 08/11/2025, with an exercise price of $10.43 and expiration 08/11/2030.

Who is the reporting person on the Form 4 for MUX?

Alfred Aguilar Colas, identified in the filing as a director of McEwen Inc.

How many shares do the options cover and what is ownership after the transaction?

The options cover 10,000 common shares; the reporting person is shown as directly beneficially owning 10,000 derivative securities following the transaction.

What is the vesting schedule for the options?

The options vest in three equal annual installments beginning on 08/11/2026.

What transaction code and price are reported on the Form 4?

The transaction is reported with code "A" (acquisition). The exercise price is $10.43, and the form shows $0 under the derivative security price field.