MUX CFO Perry Ing logs RSU vesting and new 6,990-unit award

Rhea-AI Filing Summary

McEwen Inc. (MUX) filed a Form 4 disclosing CFO Perry Ing’s equity activity. On November 10, 2025, restricted stock units (RSUs) vested and partially settled in cash, resulting in stock deliveries of 867 shares and 372 shares.

The 1,868 RSUs granted on August 11, 2025 vested as to 1,868 shares on November 10, 2025, of which 1,001 shares settled for cash. The 800 RSUs granted on September 8, 2025 vested as to 800 shares on November 10, 2025, of which 428 shares settled for cash. Following these transactions, common shares beneficially owned were 42,069 (direct).

Ing also received a new award of 6,990 RSUs on November 10, 2025. These will vest in three equal installments on December 20, 2025, June 29, 2026 and December 20, 2026. Remaining portions of the August 11 and September 8 RSU grants are scheduled to vest in equal installments on December 28, 2025 and June 28, 2026.

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^*

Ing Perry

(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)
	Chief Financial Officer

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		867	A	(1)	41,697	D
Common Stock	11/10/2025		M		372	A	(1)	42,069	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			1,868	(2)	(2)	Common Stock	1,868	$0	3,732	D
Restricted Stock Units	(1)	11/10/2025		M			800	(3)	(3)	Common Stock	800	$0	1,600	D
Restricted Stock Units	(1)	11/10/2025		A		6,990		(4)	(4)	Common Stock	6,990	$0	6,990	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 2,400 restricted stock units granted on September 8, 2025. Accordingly, the restricted stock units vested as to 1,868 shares on November 10, 2025, of which 1,001 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 800 shares on November 10, 2025, of which 428 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.

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

	/s/ Perry Ing	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).
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FAQ

What did McEwen (MUX) report in this Form 4?

The CFO, Perry Ing, reported RSU vesting that delivered 867 shares and 372 shares, and a new grant of 6,990 RSUs.

How many McEwen (MUX) shares does the CFO own after these transactions?

Following the reported transactions, direct beneficial ownership was 42,069 common shares.

What RSU grants vested on November 10, 2025 for MUX?

The 1,868 RSUs (granted August 11, 2025) and 800 RSUs (granted September 8, 2025) vested; parts of each settled for cash.

What are the cash settlements related to the RSU vesting?

Of the 1,868 vested RSUs, 1,001 settled for cash; of the 800 vested RSUs, 428 settled for cash.

What new RSUs did the MUX CFO receive and when do they vest?

A new award of 6,990 RSUs vests in three equal installments on December 20, 2025, June 29, 2026, and December 20, 2026.

When will remaining RSUs from earlier grants vest for MUX’s CFO?

The remaining portions are scheduled to vest in equal installments on December 28, 2025 and June 28, 2026.

What was the price for the RSU-related share deliveries?

The RSU conversions are shown at $0 in the filing’s derivative security price column.