Form 4: MUX awards 50,000 options (exp. 11/10/2030) and 930 RSUs

Rhea-AI Filing Summary

McEwen Inc. (MUX) reported a director equity grant on 11/10/2025. The filing shows an award of 50,000 stock options at an exercise price of $17.09, expiring on 11/10/2030. These options vest in three equal annual installments beginning on November 10, 2026.

The director also received 930 restricted stock units (RSUs). Each RSU represents the right to receive one share of common stock, or the cash value per the award agreement at the Compensation, Nominating & Corporate Governance Committee’s discretion. The RSUs vest in three installments on December 20, 2025, June 29, 2026, and December 20, 2026.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Ball Ian J

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Stock Option (right to buy)	50,000	$0.00	--
Grant/Award	Restricted Stock Units	930	$0.00	--

Holdings After Transaction: Stock Option (right to buy) — 50,000 shares (Direct); Restricted Stock Units — 930 shares (Direct)

Footnotes (1)

1. The options vest in three equal annual installments, beginning on November 10, 2026. 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. The restricted stock units will vest in three equal installments on each of December 20, 2025, June 29, 2026 and December 20, 2026.

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^*

Ball Ian J

(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
Stock Option (right to buy)	$17.09	11/10/2025		A		50,000		(1)	11/10/2030	Common Stock	50,000	$0	50,000	D
Restricted Stock Units	(2)	11/10/2025		A		930		(3)	(3)	Common Stock	930	$0	930	D

Explanation of Responses:

1. The options vest in three equal annual installments, beginning on November 10, 2026.

2. 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.

3. The restricted stock units will vest in three equal installments on each of December 20, 2025, June 29, 2026 and December 20, 2026.

	/s/ Ian J. Ball	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 Inc. (MUX) disclose in this Form 4?

A director received equity awards on 11/10/2025, including 50,000 stock options at $17.09 and 930 RSUs.

What are the key terms of the MUX stock options granted?

The options cover 50,000 shares at an exercise price of $17.09, vest in three equal annual installments starting 11/10/2026, and expire on 11/10/2030.

How do the RSUs granted to the MUX director vest?

The 930 RSUs vest on Dec 20, 2025, Jun 29, 2026, and Dec 20, 2026 in three installments.

What can each RSU settle into at McEwen Inc. (MUX)?

Each RSU represents a right to receive one share of common stock or the cash value, at the Committee’s discretion per the award agreement.

What is the relationship of the reporting person to McEwen Inc. (MUX)?

The reporting person is a Director of McEwen Inc.

Was this Form 4 filed by one or multiple reporting persons?

It was filed by one reporting person.