NioCorp Developments (NB) director boosts holdings via warrant exercise

Rhea-AI Filing Summary

NioCorp Developments Ltd. reported an insider transaction by a director involving the exercise of warrants for common shares. On 12/15/2025, the director exercised a Common Share Purchase Warrant covering 78,003 common shares at an exercise price of $3.54 per share, coded as an exercise transaction. Following this transaction, the director beneficially owned 212,583 common shares, held directly. The exercised warrant had been exercisable since 12/22/2023 and was scheduled to expire on 12/22/2025, and the derivative position was reduced to zero after the exercise.

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
Estimated average burden
hours per response:			0.5

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^*

Kehler Dean C

(Last) (First) (Middle)

C/O NIOCORP DEVELOPMENTS LTD.

7000 YOSEMITE STREETE, 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)
12/15/2025

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 Shares	12/15/2025		X		78,003	A	$3.54	212,583	D

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
Common Share Purchase Warrant (right to buy)	$3.54	12/15/2025		X			78,003	12/22/2023	12/22/2025	Common Shares	78,003	$0	0	D

Explanation of Responses:

	/s/ Neal S. Shah, as attorney-in-fact	12/15/2025
	** 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 insider transaction did NioCorp Developments Ltd. (NB) report?

NioCorp Developments Ltd. reported that a director exercised a Common Share Purchase Warrant on 12/15/2025 to acquire additional common shares of the company.

How many NioCorp (NB) shares were acquired and at what price?

The director acquired 78,003 common shares of NioCorp Developments Ltd. at an exercise price of $3.54 per share through the warrant exercise.

What derivative security was involved in this NioCorp (NB) Form 4 filing?

The filing shows a Common Share Purchase Warrant (right to buy) with an exercise price of $3.54, underlying 78,003 common shares, that was exercised on 12/15/2025.

How many NioCorp (NB) shares does the director own after the transaction?

After the reported transaction, the director beneficially owned 212,583 common shares of NioCorp Developments Ltd., held in direct ownership.

What were the key dates for the NioCorp (NB) warrant that was exercised?

The Common Share Purchase Warrant became exercisable on 12/22/2023 and had an expiration date of 12/22/2025, with the exercise taking place on 12/15/2025.

What happened to the warrant position after the NioCorp (NB) exercise?

Following the exercise of the warrant for 78,003 common shares, the number of derivative securities (warrants) beneficially owned by the director was reduced to 0.