[Form 4] McEwen Inc. Insider Trading Activity

Rhea-AI Filing Summary

McEwen Inc. insider Robert Ross McEwen, who serves as Chief Executive Officer, a director and a greater-than-10% owner, was granted a stock option that gives him the right to buy 170,000 shares of McEwen Inc. common stock at an exercise price of $10.43 per share. The transaction is dated 08/11/2025 and the option expires on 08/11/2030. The options are documented as a stock option (right to buy) and are held directly by Mr. McEwen.

The grant vests in three equal annual installments beginning on 08/11/2026, which staggers exercisability over three years. Following the reported transaction, Mr. McEwen beneficially owns 170,000 options. The filing discloses standard Section 16 insider compensation activity without additional context on total outstanding shares or aggregate insider holdings in the filing text provided.

Positive

• Grant terms disclosed clearly: exercise price, quantity, vesting schedule, and expiration are all specified
• Vesting schedule: options vest in three equal annual installments beginning 08/11/2026, which staggers potential exercisability
• Direct ownership: the filing shows the options are held directly by the reporting person

Negative

• Potential dilution of 170,000 shares if options are exercised, though the filing does not state total shares outstanding
• Material context missing: the filing does not disclose aggregate insider holdings or the company's total share count to assess dilution
• Concentration: the recipient is CEO, director and >10% owner, which may raise governance scrutiny though no further detail is provided

Insights

Financial Analyst

TL;DR: CEO granted 170,000 options at $10.43; exercisable over time and expiring in 2030, creating potential future dilution upon exercise.

The grant is a clear compensation-related equity award: 170,000 options with an exercise price of $10.43, transaction dated 08/11/2025, vesting in three equal annual installments beginning 08/11/2026, and expiring 08/11/2030. From a financial perspective this is routine insider option activity and does not itself change cash flows until options are exercised. Materiality for shareholders depends on the options relative to total shares outstanding, which is not disclosed in the provided content, so immediate market impact is likely limited absent further context.

Corporate Governance Expert

TL;DR: Grant vests over three years to the CEO and >10% owner; disclosure follows Section 16 norms but lacks outstanding-share context.

Governance-wise the filing documents a direct award to Robert Ross McEwen, who is identified as CEO, director and a >10% owner. The three-year vesting schedule beginning one year after grant indicates service-based vesting terms. The form transparently discloses conversion price, vesting schedule and expiration but does not provide aggregate insider dilution metrics or total company share count within this filing, which limits assessment of shareholder dilution and governance impact.

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^*

McEwen Robert Ross

(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	X	10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Executive 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		170,000		(1)	08/11/2030	Common Stock	170,000	$0	170,000	D

Explanation of Responses:

1. The options vest in three equal annual installments, beginning on August 11, 2026.

	/s/ Robert Ross McEwen	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) disclose in this Form 4?

The Form 4 discloses a grant of 170,000 stock options to Robert Ross McEwen with an exercise price of $10.43 and an expiration date of 08/11/2030.

How do the options awarded to Robert Ross McEwen vest?

The options vest in three equal annual installments beginning on 08/11/2026, per the explanation in the filing.

Are the options held directly or indirectly for MUX insider Robert Ross McEwen?

The filing indicates the options are held directly by Robert Ross McEwen.

What is the exercise price and expiration for the MUX options granted?

The exercise price is $10.43 per share and the options expire on 08/11/2030.

Does the Form 4 show how many underlying shares the option covers?

Yes, the derivative table lists the option as covering 170,000 shares of McEwen Inc. common stock.