Form 3 Filed for Ernest M. Cleave at NioCorp — No Beneficial Ownership Reported

Rhea-AI Filing Summary

NioCorp Developments Ltd. (NB) Form 3 filed for Ernest M. Cleave reports he is a Senior Vice President, Director-level officer with an address in Centennial, CO. The event date triggering the filing is 08/15/2025. The filing explicitly states no securities are beneficially owned by the reporting person and includes Exhibit 24.1 (Power of Attorney). The form is signed by an attorney-in-fact on 09/05/2025.

Positive

• Initial Form 3 filed identifying the reporting person and role
• Filing explicitly states no securities are beneficially owned by the reporting person
• Includes Exhibit 24.1 (Power of Attorney) and is signed by an attorney-in-fact

Negative

• None.

Insights

Financial Analyst

TL;DR: Routine Section 16 initial filing; reports officer role but no beneficial ownership, indicating no immediate equity stake disclosed.

The Form 3 documents an officer-level insider relationship without listing any direct or indirect ownership of the issuer's securities. For investors this is a non-material governance disclosure: it informs stakeholders of the reporting person's status and confirms absence of equity holdings as of the event date. No transactions, options, or derivative positions are reported.

Corporate Governance Expert

TL;DR: Compliance filing completed showing officer identity and power-of-attorney signature, but no reportable holdings were disclosed.

The submission meets the mechanics of an initial Section 16 filing by identifying the reporting person, role (Senior VP Business Development), issuer, and that Exhibit 24.1 is provided. The explicit statement that no securities are beneficially owned reduces immediate disclosure concerns about insider holdings, though it also means there is no equity alignment disclosed for this officer at the filing date.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

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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1. Name and Address of Reporting Person^*

Cleave Ernest M.

(Last) (First) (Middle)

C/O NIOCORP DEVELOPMENTS LTD

7000 YOSEMITE STREET, SUITE 115

(Street)

CENTENNIAL CO 80112

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
08/15/2025

3. Issuer Name and Ticker or Trading Symbol
NIOCORP DEVELOPMENTS LTD [ NB ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Senior VP Business Development

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

Remarks:

Exhibit 24.1 - Power of Attorney

No securities are beneficially owned.

	/s/ Neal S. Shah, attorney-in-fact	09/05/2025
	** 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 5 (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 the Form 3 for NioCorp Developments Ltd. (NB) disclose on 08/15/2025?

The Form 3 identifies Ernest M. Cleave as a Senior VP Business Development officer and reports that no securities are beneficially owned as of the event date.

Does the filing show any equity or derivative holdings for Ernest M. Cleave (NB)?

No. The filing explicitly states no securities are beneficially owned, and Table I and Table II list no holdings.

Who signed the Form 3 for the reporting person?

The form is signed by Neal S. Shah, attorney-in-fact with the signature date shown as 09/05/2025.

What role does Ernest M. Cleave hold at NioCorp according to the Form 3?

The filing lists his relationship as an officer with the title Senior VP Business Development and indicates Director-level status was checked.

Is there any indication of transactions or amendments in this Form 3?

No transactions or amendments are reported; the form indicates it is an initial statement and shows no securities owned.