McEwen insider grant — 40k options and 3.8k RSUs with multi‑year vesting

Rhea-AI Filing Summary

Jeffrey Chan, McEwen Inc.'s VP-Finance, reported equity awards dated 08/11/2025: a stock option to purchase 40,000 shares at an exercise price of $10.43 (expiration 08/11/2030) and 3,800 restricted stock units (RSUs). The option vests in three equal annual installments beginning 08/11/2026. The RSUs vest in three approximately equal installments on 12/29/2025, 06/29/2026 and 12/29/2026.

Each RSU represents a contingent right to one share of common stock or the cash value thereof as provided in the award agreement. Both grants are reported as direct beneficial ownership. The filing records compensation-related awards rather than open-market purchases or dispositions.

Insights

Financial Analyst

TL;DR Routine time‑based executive awards: 40,000 options and 3,800 RSUs increase direct holdings but pose limited immediate market impact.

The filing discloses a 40,000-share stock option at an exercise price of $10.43 expiring 08/11/2030 and 3,800 RSUs. The option vests in three equal annual installments starting 08/11/2026; the RSUs vest on 12/29/2025, 06/29/2026, and 12/29/2026. Both awards are reported as direct beneficial ownership, indicating personal compensation rather than indirect or third‑party holdings. From a financial viewpoint, these are standard compensation instruments with clear multi‑year vesting that tie executive incentives to future performance.

Corporate Governance Expert

TL;DR The grants use multi‑year vesting and include RSU settlement flexibility, reflecting common governance practices for incentive alignment.

The RSU award specifies that each unit represents a contingent right to one common share or cash at the Compensation, Nominating & Corporate Governance Committee's discretion, which provides settlement flexibility. Vesting schedules stagger award realization across 2025–2026 for RSUs and beginning 2026 for options, promoting retention and alignment with longer‑term performance. The disclosure is clear on vesting, exercise price, and expiration dates, and the awards are recorded as direct ownership by the reporting executive.

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

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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^*

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)
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		40,000		(1)	08/11/2030	Common Stock	40,000	$0	40,000	D
Restricted Stock Units	(2)	08/11/2025		A		3,800		(3)	(3)	Common Stock	3,800	$0	3,800	D

Explanation of Responses:

1. The option vests in three equal annual installments, beginning August 11, 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 approximately equal installments on each of December 29, 2025, June 29, 2026 and December 29, 2026.

	/s/ Jeffrey Chan	08/13/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What equity awards did McEwen (MUX) report for Jeffrey Chan?

40,000 stock options at an exercise price of $10.43 and 3,800 restricted stock units, transaction dated 08/11/2025.

When do the 40,000 options vest and when do they expire?

The options vest in three equal annual installments beginning 08/11/2026 and expire on 08/11/2030.

What are the RSU vesting dates for the 3,800 units?

The RSUs vest in approximately equal installments on 12/29/2025, 06/29/2026, and 12/29/2026.

How are the RSUs settled?

Each RSU represents a contingent right to receive one share of common stock or the cash value thereof, at the committee's discretion.

Are these holdings direct or indirect for reporting purposes?

Both the stock option and the RSUs are reported as direct beneficial ownership by the reporting person.