Niocorp CEO exercises warrants to buy 46,801 shares at $3.54

Niocorp Developments Ltd. disclosed that its President and CEO, Mark A. Smith, who also serves as a director, acquired 46,801 common shares on December 15, 2025 at $3.54 per share through the exercise of a common share purchase warrant.

Rhea-AI Filing Summary

Niocorp Developments Ltd. disclosed that its President and CEO, Mark A. Smith, who also serves as a director, acquired 46,801 common shares on December 15, 2025 at $3.54 per share through the exercise of a common share purchase warrant. After this transaction, he directly owns 2,318,819 common shares of the company.

Insider Trade Summary

46,801 shares exercised/converted

Exercise 2 txns

Insider Smith Mark A.

Role President & CEO

Type	Security	Shares	Price	Value
In-the-Money Exercise	Common Share Purchase Warrant (right to buy)	46,801	$0.00	$0.00
In-the-Money Exercise	Common Shares	46,801	$3.54	$166K

Holdings After Transaction: Common Share Purchase Warrant (right to buy) — 0 contracts (Direct); Common Shares — 2,318,819 shares (Direct)

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Niocorp Developments (NB) report?

Niocorp Developments (NB) reported that President, CEO and director Mark A. Smith acquired 46,801 common shares on December 15, 2025 by exercising a common share purchase warrant.

How many Niocorp Developments (NB) shares did Mark A. Smith acquire and at what price?

Mark A. Smith acquired 46,801 common shares of Niocorp Developments (NB) at an exercise price of $3.54 per share.

How many Niocorp Developments (NB) shares does Mark A. Smith own after this transaction?

Following the reported transaction, Mark A. Smith directly owns 2,318,819 common shares of Niocorp Developments (NB).

What type of derivative security did Mark A. Smith exercise in Niocorp Developments (NB)?

He exercised a common share purchase warrant, which was a right to buy 46,801 common shares at $3.54 per share, originally exercisable from December 22, 2023 and expiring on December 22, 2025.

Does Mark A. Smith hold any Niocorp Developments (NB) warrants after this transaction?

After exercising the warrant relating to 46,801 common shares, the form reports that he holds 0 derivative securities of this type.

What is Mark A. Smith’s relationship to Niocorp Developments (NB)?

Mark A. Smith is reported as a director and an officer of Niocorp Developments (NB), serving as President & CEO.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 12/15/2025 - 04:19 PM EST Learn about SEC filing dates

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^*

Smith Mark A.

(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
X	Officer (give title below)		Other (specify below)
	President & CEO

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		46,801	A	$3.54	2,318,819	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			46,801	12/22/2023	12/22/2025	Common Shares	46,801	$0	0	D

Explanation of Responses:

	/s/ Mark A. Smith	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.