Perry Ing Receives 2,400 RSUs at McEwen Inc. (MUX) with Three Vesting Dates

Rhea-AI Filing Summary

Perry Ing, Chief Financial Officer and director of McEwen Inc. (MUX), was granted 2,400 restricted stock units on 09/08/2025. Each unit represents a contingent right to receive one share of common stock or the cash value instead, at the issuer's discretion. The award carries no direct cash purchase price ($0) and is reported as 2,400 shares beneficially owned following the grant.

The restricted stock units vest in three equal installments on 11/10/2025, 12/28/2025 and 06/28/2026, and are held directly. The Form 4 was signed by Perry Ing on 09/10/2025 and discloses the grant terms without additional compensation or transaction details beyond the vesting schedule and unit count.

Positive

• Alignment of interests: Grant awards equity-linked units to the CFO, aligning management incentives with shareholders.
• Clear vesting schedule: Vesting dates are specified (11/10/2025, 12/28/2025, 06/28/2026), increasing transparency about future dilution timing.
• No cash outlay reported: The units are reported with a price of $0, indicating a service-based grant rather than a purchase.

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine executive equity grant aligning CFO incentives with shareholder value; modest size and time-based vesting.

The 2,400 restricted stock units awarded to the CFO are time-based and vest over roughly nine months in three installments, which is consistent with retention and alignment practices. The units convert to one share each (or cash at the issuer's option) and carry a reported price of $0, indicating a standard service-based grant rather than a purchase. The disclosure shows direct ownership of 2,400 units post-grant and contains no indication of acceleration, performance conditions, or related-party transactions beyond the officer status.

Corporate Governance Expert

TL;DR: Standard insider disclosure for an officer grant; vesting schedule provides short-term retention signals.

The Form 4 cleanly reports an award to an officer and director with explicit vesting dates and the issuer's discretion to settle in stock or cash. This transparency meets Section 16 reporting expectations. The short, staggered vesting (Nov 2025 to Jun 2026) suggests retention focus over the coming year. The filing lacks further governance context such as committee approval language beyond the award agreement reference, but it does include the explanatory vesting terms.

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)
09/08/2025

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
Restricted Stock Units	(1)	09/08/2025		A		2,400		(2)	(2)	Common Stock	2,400	$0	2,400	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 will vest in three equal installments on each of November 10, 2025, December 28, 2025 and June 28, 2026.

	/s/ Perry Ing	09/10/2025
	** 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 Perry Ing (MUX) receive according to the Form 4?

Perry Ing was granted 2,400 restricted stock units (RSUs) on 09/08/2025, representing rights to one share each or cash value.

When do the RSUs granted to Perry Ing vest?

The RSUs vest in three equal installments on 11/10/2025, 12/28/2025 and 06/28/2026.

How many shares does Perry Ing beneficially own after the reported transaction?

The Form 4 shows 2,400 RSUs beneficially owned following the reported grant.

Was there a cash purchase price for the RSUs reported in the filing?

No cash price was reported; the RSUs are listed with a price of $0.

When was the Form 4 signed and filed by the reporting person?

The Form 4 is signed by Perry Ing on 09/10/2025 reporting the 09/08/2025 grant.