NB insider: 50,000 options granted to director with staged vesting

Rhea-AI Filing Summary

David Coates Beling, a director of NioCorp Developments Ltd. (NB), was granted a stock option to buy 50,000 common shares with a $4.35 exercise price. The option becomes exercisable beginning 08/19/2025 and expires 08/19/2030, and is held directly by the reporting person. Thirty-four percent of the options vested on the grant date, with the remainder vesting in equal annual installments until August 18, 2027. The grant therefore provides immediate partial ownership potential and staged future alignment with the company through a five-year exercise window.

Insights

Corporate Governance Expert

TL;DR: Routine director option grant with partial immediate vesting to align long-term incentives.

The grant of a 50,000-share option to a director is a common governance tool to align executive and board incentives with shareholder value. Immediate vesting of 34% provides near-term retention and alignment, while the remaining vesting over two years encourages continued service through 2027. The direct ownership form simplifies disclosure and control considerations. This disclosure is standard and does not, by itself, indicate material change to the companys capital structure beyond the explicit potential dilution from the underlying 50,000 shares.

Securities Analyst

TL;DR: Standard equity compensation with a five-year exercise window; impact is modest and routine.

The option's $4.35 exercise price and five-year exercise period (08/19/2025to08/19/2030) define the economic terms for potential share issuance. With 50,000 underlying common shares, the maximum near-term share issuance is explicit in the filing. The vesting schedule (34% immediate, remainder by 08/18/2027) staggers potential option exercises and helps retain board membership. Based solely on the disclosed terms, this appears to be a standard, non-material compensation action rather than a transformational corporate event.

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

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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^*

BELING DAVID COATES

(Last) (First) (Middle)

C/O NIOCORP DEVELOPMENTS LTD.

7000 YOSEMITE STREET, SUITE 115

(Street)

CENTENNIAL CO 80112

(City) (State) (Zip)

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

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)
08/18/2025

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
Director Stock Option (Right to Buy)	$4.35	08/18/2025		A		50,000		(1)	08/19/2030	Common Shares	50,000	$0	50,000	D

Explanation of Responses:

1. 34% of the options vested on the grant date and the remainder will vest in equal installments on each anniversary of the grant date until August 18, 2027.

	/s/ David Coates Beling	08/20/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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