[Form 4] McEwen Mining Inc. Insider Trading Activity

Rhea-AI Filing Summary

McEwen Mining Inc. (MUX) – Form 4 insider filing dated 07/01/2025

General Counsel & Corporate Secretary Carmen L. Diges reported multiple equity transactions on 06/29/2025:

• Direct common-stock acquisitions: 2,669 shares at an indicated value of $7.53 per share and 1,144 shares at $0, both issued in lieu of cash compensation for the period 4/1/23-3/31/24.
• RSU exercise (Code M): 3,370 shares converted from previously awarded restricted stock units.
• Post-transaction direct holdings: 26,096 common shares.
• Indirect holdings: 5,000 shares through Diges Professional Corporation and 7,500 shares through Pleasant Memories Enterprises Inc.
• New RSU grant: 10,110 units awarded at no cost; vesting in three equal tranches on 6/29/2025, 12/20/2025 and 6/29/2026. After exercising 3,370 units, 6,740 RSUs remain outstanding.

The filing shows a net increase of 4,514 directly owned shares, plus a fresh 10,110-unit equity incentive. All transactions were acquisitions; no sales were reported.

Positive

• Officer increased direct share ownership by 4,514 shares, signalling ongoing commitment to the company.
• 10,110 new RSUs granted with multi-year vesting aligns management incentives with long-term shareholder value.
• No insider sales reported, removing near-term selling pressure concerns.

Negative

• Acquisitions were compensation-based or zero-cost; they do not reflect discretionary, open-market cash purchases.
• Dollar value of transactions is small relative to McEwen Mining’s overall market capitalization, limiting material impact.

Insights

Equity Analyst

TL;DR: Officer adds 4.5k shares and receives 10.1k RSUs; signal mildly bullish, immaterial to market cap.

The Form 4 indicates that McEwen Mining’s General Counsel increased her direct stake by roughly 22 % (to 26,096 shares) through compensation stock and an RSU conversion. Although not an open-market cash purchase, the absence of any sales combined with a new long-dated RSU grant aligns the officer’s incentives with shareholders. The absolute dollar value is modest relative to MUX’s float, so market impact is limited, but it does remove potential overhang from insider selling fears.

Governance Specialist

TL;DR: Compensation equity awards drive ownership; positive alignment but limited commitment of personal capital.

The transactions stem from compensation in stock and automatic RSU vesting rather than discretionary buying. While they increase insider ownership—a governance positive—they do not represent a cash-based vote of confidence. However, the multi-year vesting schedule encourages retention through 2026, improving continuity in senior legal leadership. No red flags such as Rule 10b5-1 sales or option repricing appear.

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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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^*

Diges Carmen L

(Last) (First) (Middle)

C/O MCEWEN MINING INC.

150 KING STREET WEST, SUITE 2800

(Street)

TORONTO A6 M5H 1J9

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
McEwen Mining Inc. [ MUX ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	General Counsel/Corp Sec

3. Date of Earliest Transaction (Month/Day/Year)
06/29/2025

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	06/29/2025		A		2,669(1)	A	$7.53	21,582	D
Common Stock	06/29/2025		A		1,144	A	$0	22,726	D
Common Stock	06/29/2025		M		3,370	A	(2)	26,096	D
Common Stock								5,000	I	by Diges Professional Corporation
Common Stock								7,500	I	by Pleasant Memories Enterprises Inc.

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	(2)	06/29/2025		A		10,110		(3)	(3)	Common Stock	10,110	$0	10,110	D
Restricted Stock Units	(2)	06/29/2025		M			3,370	(3)	(3)	Common Stock	3,370	$0	6,740	D

Explanation of Responses:

1. Represents shares of common stock delivered in lieu of cash compensation for services rendered to the Issuer during the period beginning April 1, 2023 through and including March 31, 2024.

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 vested or will vest in three equal installments on each of June 29, 2025, December 20, 2025 and June 29, 2026.

	/s/ Carmen L. Diges	07/01/2025
	** 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

How many McEwen Mining (MUX) shares did Carmen L. Diges acquire?

4,514 common shares were added directly (2,669 + 1,144 + 3,370 from RSU conversion).

What is Carmen L. Diges’s total direct ownership after the transactions?

She now holds 26,096 common shares directly.

Did the insider sell any McEwen Mining shares in this Form 4?

No. All reported transactions were acquisitions; there were no sales.

What is the size and vesting schedule of the new RSU award to the officer?

The filing shows 10,110 RSUs vesting in three equal tranches on 6/29/2025, 12/20/2025, and 6/29/2026.

How many McEwen Mining shares does the insider hold indirectly?

An additional 12,500 shares are held through two private entities, bringing total beneficial ownership to 38,596 shares.

What transaction codes were used in the Form 4?

Codes A (acquisition) and M (derivative conversion) were disclosed; no sales (Code S) were reported.