Form 4: Jeffrey Chan receives 1,600 RSUs at McEwen Inc. (MUX)

Rhea-AI Filing Summary

Insider grant of 1,600 restricted stock units to McEwen Inc. (MUX) officer Jeffrey Chan. The Form 4 discloses an award of 1,600 restricted stock units (RSUs) granted on 09/08/2025 to Jeffrey Chan, who is listed as VP - Finance and a director/officer of the issuer. Each RSU represents a contingent right to one share or cash equivalent at the committee's discretion. The RSUs vest in three approximately equal installments on November 10, 2025; December 28, 2025; and June 28, 2026. Following the grant, Mr. Chan beneficially owns 1,600 shares directly. Price reported as $0, indicating a compensatory award rather than a purchase.

Insights

Financial Analyst

TL;DR: Small compensatory RSU grant to a finance officer, immaterial to company valuation but aligns executive incentives.

The 1,600 RSU award reported on Form 4 is a routine compensatory grant to a senior finance officer and director. At zero reported price, this is equity compensation rather than a market purchase. The vesting schedule spans three dates between November 2025 and June 2026, creating short-term retention incentives. Given the modest size relative to typical outstanding share counts for public companies, this grant is unlikely to materially affect capitalization or operating metrics. Investors should note timing of vesting for potential future share issuance or dilution, though the filing provides no company-wide share-count context.

Corporate Governance Expert

TL;DR: Standard governance practice—committee-approved RSUs with staged vesting; reflects retention and alignment, not a governance concern.

The disclosure follows Section 16 reporting norms: reporting person identified, award described, vesting schedule specified, and the Form 4 is signed. The award is subject to the Compensation, Nominating & Corporate Governance Committee's discretion for settlement in shares or cash, which is a common plan provision. No acceleration, repricing, or derivative instruments are disclosed. From a governance perspective, the filing raises no red flags; it documents routine executive compensation that ties pay to future service or performance windows.

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)
09/08/2025

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
Restricted Stock Units	(1)	09/08/2025		A		1,600		(2)	(2)	Common Stock	1,600	$0	1,600	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 will vest in three approximately equal installments on each of November 10, 2025, December 28, 2025 and June 28, 2026.

	/s/ Jeffrey Chan	09/10/2025
	** 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 Jeffrey Chan report on the Form 4 for McEwen Inc. (MUX)?

The Form 4 reports a grant of 1,600 restricted stock units (RSUs) to Jeffrey Chan on 09/08/2025.

When do the RSUs granted to Jeffrey Chan vest?

The RSUs vest in three approximately equal installments on November 10, 2025, December 28, 2025, and June 28, 2026.

How many shares does Jeffrey Chan beneficially own after the reported transaction?

Following the reported transaction, Mr. Chan beneficially owns 1,600 shares directly.

Was there a purchase price for the RSUs reported on the Form 4?

No purchase price was reported; the RSUs are listed with a $0 price, indicating a compensatory award.

What is the nature of the RSU settlement per the filing?

Each RSU represents a contingent right to receive one share of common stock or the cash value thereof, at the discretion of the Compensation, Nominating & Corporate Governance Committee.