MUX insider RSUs vest; cash settlement and share conversions

Rhea-AI Filing Summary

McEwen Inc. (MUX) reported insider equity changes by its VP - Finance. On November 10, 2025, restricted stock units (RSUs) vested from two grants: 1,268 RSUs from an August 11, 2025 award (with 680 shares settling for cash) and 534 RSUs from a September 8, 2025 award (with 286 shares settling for cash).

Table I shows code M conversions resulting in acquisitions of common stock: 588 shares and 248 shares. The remaining RSUs from both grants are scheduled to vest in two equal installments on December 28, 2025 and June 28, 2026.

Insider Trade Summary

1,802 shares exercised/converted

Mixed 4 txns

Insider Chan Jeffrey

Role VP - Finance

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,268	$0.00	--
Exercise	Restricted Stock Units	534	$0.00	--
Exercise	Common Stock	588	$0.00	--
Exercise	Common Stock	248	$0.00	--

Holdings After Transaction: Restricted Stock Units — 2,532 shares (Direct); Common Stock — 2,855 shares (Direct)

Footnotes (1)

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. The restricted stock units were granted on August 11, 2025. Subsequent to the grant on August 11, 2025, the vesting schedule of the restricted stock units was amended to be identical to the vesting schedule of the 1,600 restricted stock units granted on September 8, 2025. Accordingly, the restricted stock units vested as to 1,268 shares on November 10, 2025, of which 680 shares settled for cash. The restricted stock units will vest as to the remaining shares in two equal installments on each of December 28, 2025 and June 28, 2026. The restricted stock units were granted on September 8, 2025 and vested as to 534 shares on November 10, 2025, of which 286 shares settled for cash. The restricted stock units will vest as to the remaining shares in two equal installments on each of December 28, 2025 and June 28, 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^*

Chan Jeffrey

(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)
	VP - Finance

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
Common Stock	11/10/2025		M		588	A	(1)	2,855	D
Common Stock	11/10/2025		M		248	A	(1)	3,103	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)	11/10/2025		M			1,268	(2)	(2)	Common Stock	1,268	$0	2,532	D
Restricted Stock Units	(1)	11/10/2025		M			534	(3)	(3)	Common Stock	534	$0	1,066	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 August 11, 2025. Subsequent to the grant on August 11, 2025, the vesting schedule of the restricted stock units was amended to be identical to the vesting schedule of the 1,600 restricted stock units granted on September 8, 2025. Accordingly, the restricted stock units vested as to 1,268 shares on November 10, 2025, of which 680 shares settled for cash. The restricted stock units will vest as to the remaining shares in two equal installments on each of December 28, 2025 and June 28, 2026.

3. The restricted stock units were granted on September 8, 2025 and vested as to 534 shares on November 10, 2025, of which 286 shares settled for cash. The restricted stock units will vest as to the remaining shares in two equal installments on each of December 28, 2025 and June 28, 2026.

	/s/ Jeffrey Chan	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?

An officer reported RSU vesting and related share acquisitions via code M on November 10, 2025.

How many RSUs vested for the McEwen (MUX) officer?

1,268 RSUs from an August 11, 2025 grant and 534 RSUs from a September 8, 2025 grant vested on November 10, 2025.

How many vested shares settled for cash?

680 shares from the 1,268 RSUs and 286 shares from the 534 RSUs settled for cash.

What common shares were acquired through derivative conversion?

Code M entries show acquisitions of 588 and 248 shares of common stock.

When will the remaining RSUs vest?

The remaining RSUs vest in two equal installments on December 28, 2025 and June 28, 2026.

What is the reporting person’s role at McEwen (MUX)?

The reporting person is an Officer with the title VP - Finance.

Was this filed by one reporting person?

Yes. The filing indicates it was Form filed by One Reporting Person.