McEwen Inc. (MUX) COO Shaver Discloses RSU Vesting and 149,200 Shares

Rhea-AI Filing Summary

McEwen Inc. director and Chief Operating Officer William M. Shaver reported the vesting of several restricted stock unit awards and related acquisitions of common shares. On December 20, 2025, restricted stock units granted on June 29, 2025 vested as to 11,740 shares, those granted on November 10, 2025 vested as to 5,700 shares, and earlier grants from August 11, 2025 and September 8, 2025 vested as to 2,100 and 867 shares, respectively. Each unit converts into one share of common stock or its cash value at the discretion of the company’s Compensation, Nominating & Corporate Governance Committee.

Following these transactions, Shaver directly owned 149,200 shares of McEwen Inc. common stock. The remaining portions of these awards are scheduled to vest on specified future dates in 2026 according to each grant’s vesting schedule.

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^*

Shaver William M

(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
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

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		11,740	A	(1)	140,533	D
Common Stock	12/20/2025		M		5,700	A	(1)	146,233	D
Common Stock	12/20/2025		M		2,100	A	(1)	148,333	D
Common Stock	12/20/2025		M		867	A	(1)	149,200	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			11,740	(2)	(2)	Common Stock	11,740	$0	11,740	D
Restricted Stock Units	(1)	12/20/2025		M			5,700	(3)	(3)	Common Stock	5,700	$0	11,400	D
Restricted Stock Units	(1)	12/20/2025		M			2,100	(4)	(4)	Common Stock	2,100	$0	2,100	D
Restricted Stock Units	(1)	12/20/2025		M			867	(5)	(5)	Common Stock	867	$0	867	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 June 29, 2025 and vested as to 11,740 shares on December 20, 2025. The restricted stock units will vest as to the remaining shares on June 29, 2026.

3. The restricted stock units were granted on November 10, 2025 and vested as to 5,700 shares on December 20, 2025. The restricted stock units will vest as to the remaining shares in two equal installments on each of June 29, 2026 and December 20, 2026.

4. 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 2,100 shares on December 20, 2025. The restricted stock units will vest as to the remaining shares on June 28, 2026.

5. 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 867 shares on December 20, 2025. The restricted stock units will vest as to the remaining shares on June 28, 2026.

	/s/ William M. Shaver	12/23/2025
	** Signature of Reporting Person	Date
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