McEwen Inc. (MUX) director discloses RSU vesting, cash settlement and share holdings

Rhea-AI Filing Summary

McEwen Inc. director Ian J. Ball reported equity compensation activity involving the company’s common stock. On December 20, 2025, he acquired 160 shares of common stock through an exempt transaction coded “M,” leaving him with 160 common shares held directly after the transaction.

On the same date, 310 restricted stock units (RSUs) vested from an award originally granted on November 10, 2025. Each RSU represents a right to receive one share of common stock or its cash value, at the discretion of the Compensation, Nominating & Corporate Governance Committee. Of the 310 vested RSUs, 150 shares were settled in cash. The remaining RSUs from this grant are scheduled to vest in two equal installments on June 29, 2026 and December 20, 2026, and Ball reported 620 RSUs beneficially owned directly after the transaction.

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
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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)
12/20/2025

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	12/20/2025		M		160	A	(1)	160	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)	12/20/2025		M			310	(2)	(2)	Common Stock	310	$0	620	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 November 10, 2025 and vested as to 310 shares on December 20, 2025, of which 150 shares were settled for cash. The restricted stock units will vest as to the remaining shares in two equal installments on each of June 29, 2026 and December 20, 2026.

	/s/ Ian J. Ball	12/23/2025
	** 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 insider transaction did McEwen Inc. (MUX) disclose for Ian J. Ball?

McEwen Inc. disclosed that director Ian J. Ball completed an exempt transaction on December 20, 2025 coded “M,” in which he acquired 160 shares of common stock and reported holding 160 common shares directly after the transaction.

How many restricted stock units does the McEwen Inc. (MUX) director hold after the reported transaction?

Following the reported activity on December 20, 2025, Ian J. Ball reported beneficial ownership of 620 restricted stock units (RSUs), held directly.

When were the restricted stock units for the McEwen Inc. (MUX) director granted and when did they vest?

The restricted stock units were granted on November 10, 2025 and 310 RSUs vested on December 20, 2025. The remaining RSUs from this grant are scheduled to vest in two equal installments on June 29, 2026 and December 20, 2026.

How are the McEwen Inc. (MUX) director’s restricted stock units settled?

Each restricted stock unit represents a contingent right to receive one share of McEwen Inc. common stock, or the cash value of that share, as set forth in the award agreement and at the discretion of the company’s Compensation, Nominating & Corporate Governance Committee. For the 310 RSUs that vested on December 20, 2025, 150 shares were settled for cash.

What is the nature of Ian J. Ball’s relationship to McEwen Inc. (MUX)?

Ian J. Ball is reported as a director of McEwen Inc., and the filing indicates that the Form was filed by one reporting person.

Did the McEwen Inc. (MUX) filing involve a Rule 10b5-1 trading plan?

The form includes a checkbox to indicate whether a transaction was made under a Rule 10b5-1(c) trading plan, but the content excerpt does not show that this box was marked for the reported transactions.