[Form 4] UNITED STATES ANTIMONY CORP Insider Trading Activity

Rhea-AI Filing Summary

John C. Gustavsen, President of the Antimony Division at United States Antimony Corp (UAMY), was granted equity awards on 05/27/2025 consisting of 125,000 restricted stock units (RSUs) and 150,000 stock options. Both grants are contingent on shareholder approval of the Issuer's Amended Restated 2023 Equity Incentive Plan.

The RSUs vest time-based in three equal installments (one-third or 41,667 shares on each of May 27, 2025, 2026 and 2027) subject to continued service and shareholder approval. The stock options vest upon achievement of specified performance measures at any time during the options' 10-year term, subject to continued service and shareholder approval. Following the reported transactions, the filings indicate 0 shares beneficially owned from these awards until vesting/approval conditions are met.

Positive

• 125,000 RSUs granted, providing potential future equity if vesting and shareholder approval conditions are met
• 150,000 stock options granted with a 10-year term, enabling potential long-term incentive realization if performance conditions are satisfied

Negative

• Awards are contingent on shareholder approval of the Amended Restated 2023 Equity Incentive Plan, so they are not currently effective
• Filing reports 0 shares beneficially owned from these awards pending vesting and plan approval, indicating no immediate insider ownership change

Insights

Financial Analyst

TL;DR: Grants total 275,000 equity instruments but are contingent on shareholder approval and show no immediate beneficial ownership.

The filing documents a time-based RSU award for 125,000 shares and a performance-contingent option award for 150,000 shares, both granted on 05/27/2025 and both conditioned on approval of the Amended Restated 2023 Equity Incentive Plan. The RSUs vest in three equal annual tranches; the options vest upon achieving specified performance measures within a 10-year term. The report lists 0 shares beneficially owned from these awards pending vesting and plan approval, limiting immediate dilution or insider ownership changes reflected today.

Corporate Governance Expert

TL;DR: The awards are conditional on shareholder approval and continued service, so they are provisional rather than immediately effective.

The disclosure specifies that both the RSU and option grants are contingent on shareholders approving the company\'s amended equity plan and on the reporting person\'s continued service through vesting dates. The RSU has a clear time-based vest schedule; the option vests based on performance measures and carries a 10-year term. Because the filing records no current beneficial ownership from these awards, the governance effect is procedural until shareholders act and vesting conditions are met.

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
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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^*

Gustavsen John C.

(Last) (First) (Middle)

4438 W LOVERS LANE, UNIT 100

(Street)

DALLAS TX 75209

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
UNITED STATES ANTIMONY CORP [ UAMY ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President of Antimony Division

3. Date of Earliest Transaction (Month/Day/Year)
05/27/2025

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
Common Stock(1)	$0	05/27/2025		A		125,000(1)		(1)	(1)	Common Stock	125,000	(1)	0(1)	D
Stock Option(2)	$2.57	05/27/2025		A		150,000(2)		(2)	(2)	Common Stock	150,000	(2)	0(2)	D

Explanation of Responses:

1. Represents shares of Common Stock underlying a time-based vesting restricted stock unit ("RSU") award granted on May 27, 2025, but contingent on the Issuer's shareholders approving its Amended Restated 2023 Equity Incentive Plan. The RSU will vest as to one-third, or 41,667 shares of the 125,000 total number of shares on May 27, 2025 and an additional one-third of the total number of shares will vest on May 27, 2026 and May 27, 2027, subject to the Reporting Person's continued service through any vesting date and shareholder approval of the Issuer's Amended Restated 2023 Equity Incentive Plan.

2. Represents shares of Common Stock underlying a stock option award granted on May 27, 2025, but contingent on the Issuer's shareholders approving its Amended Restated 2023 Equity Incentive Plan. The stock option will vest upon meeting any of the performance measures specified in the grant at any time during the 10-year term of the award, subject to the Reporting Person's continued service through any vesting date and shareholder approval of the Issuer's Amended Restated 2023 Equity Incentive Plan.

	/s/ John C. Gustavsen	09/15/2025
	** 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.
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FAQ

What equity awards did John C. Gustavsen receive according to the Form 4?

The Form 4 shows a grant of 125,000 RSUs and 150,000 stock options, both dated 05/27/2025.

Are the RSUs and options immediately vested and owned by John C. Gustavsen?

No. The RSUs vest in three equal annual tranches and the options vest only upon meeting specified performance measures; both are subject to continued service and shareholder approval.

What vesting schedule applies to the 125,000 RSUs?

The RSUs vest one-third (41,667 shares) on each of May 27, 2025, 2026 and 2027, subject to continued service and shareholder approval.

What conditions apply to the 150,000 stock options?

The stock options vest upon meeting the grant\\'s performance measures at any time during the options\\' 10-year term, and are subject to continued service and shareholder approval.

Does the Form 4 show any immediate change in beneficial ownership from these awards?

The filing indicates 0 shares beneficially owned from these awards following the reported transactions pending vesting and shareholder approval.