MUX Form 4: Director adds 585 DSUs, total derivative holdings 1,311

Rhea-AI Filing Summary

McEwen Inc. (MUX) director John Casimir Florek reported acquiring 585 deferred stock units on 11/10/2025 at a price of $0.

Each deferred stock unit represents the right to receive one share of McEwen common stock. The units are fully vested and will be delivered upon the director’s termination of continuous service from the Board, subject to the director’s deferral election. Following the transaction, Florek beneficially owned 1,311 derivative securities directly.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Florek John Casimir

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Deferred Stock Units	585	$0.00	--

Holdings After Transaction: Deferred Stock Units — 1,311 shares (Direct)

Footnotes (1)

1. Each deferred stock unit represents a right to receive one share of the Issuer's common stock. The deferred stock units are fully vested and will be delivered to the reporting person on the date of the reporting person's termination of continuous service from the Issuer's Board of Directors (the "Board"), subject to the reporting person's right to elect to defer delivery of the deferred stock units beyond the date of the reporting person's termination of continuous service from the Board.

Form 4 Insider Transactions: What Each Field Means →

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^*

Florek John Casimir

(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)
11/10/2025

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
Deferred Stock Units	(1)	11/10/2025		A		585		(2)	(2)	Common Stock	585	$0	1,311	D

Explanation of Responses:

1. Each deferred stock unit represents a right to receive one share of the Issuer's common stock.

2. The deferred stock units are fully vested and will be delivered to the reporting person on the date of the reporting person's termination of continuous service from the Issuer's Board of Directors (the "Board"), subject to the reporting person's right to elect to defer delivery of the deferred stock units beyond the date of the reporting person's termination of continuous service from the Board.

	/s/ John Casimir Florek	11/12/2025
	** 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 (MUX) disclose in this Form 4?

A director, John Casimir Florek, acquired 585 deferred stock units on 11/10/2025 at $0.

How many derivative securities does the McEwen (MUX) director hold after this transaction?

Following the transaction, the director beneficially owned 1,311 derivative securities directly.

What does each McEwen (MUX) deferred stock unit represent?

Each unit represents a right to receive one share of McEwen Inc. common stock.

When will the McEwen (MUX) deferred stock units be delivered?

They are fully vested and will be delivered upon the director’s termination of continuous service from the Board, subject to a deferral election.

Was there a cash price paid for these McEwen (MUX) units?

The reported price for the 585 deferred stock units was $0.