McEwen VP exercises 1,700 RSUs for cash

McEwen Inc. VP Corporate Development Stephan Michael Spears exercised restricted stock units that were settled entirely in cash rather than stock.

Rhea-AI Filing Summary

McEwen Inc. VP Corporate Development Stephan Michael Spears exercised restricted stock units that were settled entirely in cash rather than stock. On June 28, 2026, he exercised 1,700 restricted stock units tied to common shares, consisting of 1,200 units from an August 11, 2025 grant and 500 units from a September 8, 2025 grant. The award terms allow settlement in shares or their cash value at the discretion of the Compensation, Nominating & Corporate Governance Committee, and in this case all vested units were paid out in cash, with no open-market share purchases or sales reported.

Insider Trade Summary

1,700 shares exercised/converted

Exercise 2 txns

Insider Spears Stephan Michael

Role VP Corporate Development

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	1,200	$0.00	$0.00
Exercise	Restricted Stock Units	500	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 0 contracts (Direct)

Footnotes (3)

1. F1. 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. F2. The restricted stock units were granted on August 11, 2025 and vested as to 1,200 shares on June 28, 2026, all of which were settled for cash.
3. F3. The restricted stock units were granted on September 8, 2025 and vested as to 500 shares on June 28, 2026, all of which were settled for cash.

Key Figures

RSUs exercised: 1,700 units First RSU tranche: 1,200 units Second RSU tranche: 500 units +2 more

5 metrics

RSUs exercised 1,700 units Total restricted stock units exercised on June 28, 2026

First RSU tranche 1,200 units Granted August 11, 2025; vested and cashed out June 28, 2026

Second RSU tranche 500 units Granted September 8, 2025; vested and cashed out June 28, 2026

Exercise price per unit $0.00 Restricted stock units exercised with no exercise price

Derivative positions remaining 0 units DerivativeSummary shows no remaining derivative securities after exercises

Key Terms

Restricted Stock Units, derivative security, Compensation, Nominating & Corporate Governance Committee, settled for cash

4 terms

Restricted Stock Units financial

"Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock, or the cash value thereof..."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

derivative security financial

"transaction_code_description: Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

Compensation, Nominating & Corporate Governance Committee financial

"in the discretion of the Issuer's Compensation, Nominating & Corporate Governance Committee"

settled for cash financial

"vested as to 1,200 shares on June 28, 2026, all of which were settled for cash"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did McEwen Inc. (MUX) report for Stephan Michael Spears?

McEwen Inc. reported that VP Corporate Development Stephan Michael Spears exercised 1,700 restricted stock units on June 28, 2026. These units converted into a cash payment rather than common shares, reflecting routine settlement of previously granted equity compensation.

How many restricted stock units did the McEwen (MUX) executive exercise?

The executive exercised a total of 1,700 restricted stock units linked to McEwen common stock. This comprised 1,200 units from an August 11, 2025 grant and 500 units from a September 8, 2025 grant, all vesting and settling on June 28, 2026.

Were McEwen (MUX) restricted stock units settled in cash or shares?

All 1,700 restricted stock units were settled for cash rather than shares. The award agreements allow payment in stock or cash at the Compensation, Nominating & Corporate Governance Committee’s discretion, and this filing specifies that the vested units were paid out in cash.

Did the McEwen (MUX) Form 4 show any open-market stock purchases or sales?

The Form 4 did not show any open-market purchases or sales of McEwen common stock. It only reported the exercise of restricted stock units, which were settled entirely in cash, so no trading in the public market was disclosed in this filing.

When were the McEwen (MUX) restricted stock units granted and vested?

One grant of restricted stock units was made on August 11, 2025 and another on September 8, 2025. Portions of these grants, totaling 1,700 units, vested on June 28, 2026 and were then exercised and settled in cash, according to the Form 4 footnotes.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/30/2026 - 09:10 PM Learn about SEC filing dates

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^*

Spears Stephan Michael

(Last) (First) (Middle)

C/O MCEWEN INC.

150 KING STREET WEST, SUITE 2800

(Street)

TORONTO M5H 1J9

(City) (State) (Zip)

ONTARIO, CANADA

(Country)

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 Corporate Development

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/28/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

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
Restricted Stock Units	(1)	06/28/2026		M			1,200	(2)	(2)	Common Stock	1,200	$0	0	D
Restricted Stock Units	(1)	06/28/2026		M			500	(3)	(3)	Common Stock	500	$0	0	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 and vested as to 1,200 shares on June 28, 2026, all of which were settled for cash.

3. The restricted stock units were granted on September 8, 2025 and vested as to 500 shares on June 28, 2026, all of which were settled for cash.

	/s/ Stephan Michael Spears	06/30/2026
	** 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.
* Form 4: SEC 1474 (03-26)