Nicolas Darveau-Garneau receives 20,000 MUX options, vesting over 3 years

Rhea-AI Filing Summary

McEwen Inc. director Nicolas Darveau-Garneau was granted 20,000 stock options on 08/11/2025 with an exercise price of $10.43. The options give the right to buy common stock and are reported as held directly.

The grant vests in three equal annual installments beginning 08/11/2026 and includes an apparent expiration date of 08/11/2030. The filing lists the acquisition of 20,000 derivative securities (stock options) under the Form 4 disclosure.

Insights

Corporate Governance Expert

TL;DR: Routine director equity grant of 20,000 options at $10.43, standard multi-year vesting.

This Form 4 reports a typical equity compensation award to a director, showing a grant of 20,000 stock options with an exercise price of $10.43. Vesting occurs in three equal annual installments starting 08/11/2026, with an apparent expiration on 08/11/2030, and is recorded as direct beneficial ownership. The disclosure is procedural and consistent with director compensation practices; the filing itself does not disclose outstanding share counts or dilution impact.

Compensation Analyst

TL;DR: Compensation grant: 20,000 options, $10.43 strike, three-year vesting beginning 08/11/2026; routine structure.

The key economic terms shown are 20,000 options at a $10.43 exercise price granted on 08/11/2025. Vesting is in three equal annual installments beginning 08/11/2026, which staggers option access over time. The grant is reported as direct ownership of derivative securities and matches standard long-term incentive design for non-employee or director awards. The filing does not provide information on prior holdings or total potential dilution.

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^*

Darveau-Garneau Nicolas

(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		20,000		(1)	08/11/2030	Common Stock	20,000	$0	20,000	D

Explanation of Responses:

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

	/s/ Nicolas Darveau-Garneau	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 did McEwen Inc. (MUX) report on the Form 4?

Director Nicolas Darveau-Garneau was granted 20,000 stock options to purchase common stock, reported on the Form 4.

What are the terms of the options granted to Nicolas Darveau-Garneau?

20,000 options with an exercise price of $10.43; vest in three equal annual installments beginning 08/11/2026; expiration indicated as 08/11/2030.

When did the option grant occur?

The transaction date shown is 08/11/2025, which is the reported grant date for the 20,000 options.

How is ownership reported for these options?

The filing reports the options as directly owned (Ownership Form: D) by Nicolas Darveau-Garneau.

Who is the reporting person for this Form 4?

The reporting person is Nicolas Darveau-Garneau, a director of McEwen Inc.