[Form 4] NioCorp Developments Ltd. Insider Trading Activity

Rhea-AI Filing Summary

Scott Honan, Chief Operating Officer of NioCorp Developments Ltd. (NB), received an award of 250,000 employee stock options on 08/18/2025 with an exercise price of $4.35 per share. The option grant was reported on Form 4 filed 08/20/2025 and is held directly by Honan.

Thirty-four percent of the options vested on the grant date and the remainder vests in equal annual installments through August 18, 2027. Each option converts into one common share; the options are exercisable beginning 08/19/2030 and expire on that date per the reporting table. The filing is a routine disclosure of insider option compensation and does not disclose cash payments or changes to share ownership beyond the 250,000 options granted.

Insights

Executive Compensation Analyst

TL;DR: A standard executive option grant with time-based vesting to align management incentives; not an immediate cash event.

The award of 250,000 options at a $4.35 exercise price shows the company using equity-based compensation to retain and incentivize the COO. The partial vesting on grant (34%) plus remaining annual vesting through 2027 encourages medium-term retention. The exercisability beginning in 2030 suggests a multi-year holding horizon before option exercise becomes possible, which can reduce short-term selling pressure. The filing discloses direct beneficial ownership of the options but does not reveal the percentage dilution relative to outstanding shares, limiting assessment of materiality.

Corporate Governance Expert

TL;DR: Routine insider disclosure; governance implications hinge on grant size relative to total share count, which is not provided.

The Form 4 properly reports the grant and vesting schedule, demonstrating compliance with Section 16 reporting. Time-based vesting with an initial portion vested aligns management and shareholder interests if linked to performance, though no performance conditions are disclosed. Without context on total outstanding shares or existing insider holdings, the potential dilution and governance impact cannot be fully judged from this filing alone.

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^*

Honan Scott

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

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
Employee Stock Option (Right to Buy)	$4.35	08/18/2025		A		250,000		(1)	08/19/2030	Common Shares	250,000	$0	250,000	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/ Scott Honan	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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