[Form 4] UNITED STATES ANTIMONY CORP Insider Trading Activity

Rhea-AI Filing Summary

Melissa M. Pagen, SVP of Corporate Development & Government Relations at United States Antimony Corp (UAMY), reported awards granted on 05/27/2025 that are contingent on shareholder approval of the companys Amended Restated 2023 Equity Incentive Plan. The filing shows a time-based RSU award for 100,000 shares vesting one-third on each of May 27, 2026, 2027 and 2028 subject to continued service and plan approval. It also shows a stock option for 150,000 shares with a $2.57 exercise price that vests upon meeting specified performance measures during its 10-year term, also contingent on shareholder approval. The Form 4 is signed 09/15/2025.

Positive

• Retention-focused structure: RSUs vest over three years, encouraging continued service.
• Performance alignment: Options vest based on performance measures, linking pay to results.
• Clear terms disclosed: Number of shares, exercise price ($2.57), vesting schedule, and contingencies are explicitly stated.

Negative

• Contingent on shareholder approval: Neither award is currently effective until the Amended Restated 2023 Equity Incentive Plan is approved.
• Potential dilution: Awards total 250,000 shares underlying equity which could dilute existing shareholders if approved.

Insights

Corporate Governance Expert

TL;DR: Significant insider awards were granted but remain contingent on shareholder approval, limiting immediate governance impact.

The reported awards align management incentives with shareholder outcomes if the equity plan is approved. Time-based vesting for the RSUs and performance-based vesting for the options indicate a mix of retention and performance alignment. Because both awards are contingent on shareholder approval, they do not currently change outstanding share counts or voting power. Investors should note the contingency when assessing immediate dilution or governance changes.

Compensation Analyst

TL;DR: Grants are material in size for an insider but are conditional, balancing retention and performance metrics.

The RSU schedule vests over three years, promoting retention. The options $2.57 strike and 10-year term with performance vesting tie potential gain to company performance. Because vesting and the awards themselves depend on plan approval, their ultimate cost and dilutive effect remain uncertain. From a pay-for-performance perspective, the structure is conventional and potentially accretive to alignment if targets are meaningful.

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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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^*

Pagen Melissa

(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)
	SVP Corp Dev & Gov't Relations

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		100,000(1)		(1)	(1)	Common Stock	100,000	(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 33,333 shares of the 100,000 total number of shares on May 27, 2026 and an additional one-third of the total number of shares will vest on May 27, 2027 and May 27, 2028, 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/ Melissa M. Pagen	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).
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FAQ

What awards did UAMY insider Melissa Pagen report on Form 4?

The filing reports a 100,000-share RSU award and a 150,000-share stock option granted on 05/27/2025.

Are the RSUs and options effective immediately for UAMY?

No. Both awards are contingent on shareholder approval of the Amended Restated 2023 Equity Incentive Plan.

What is the option exercise price and term reported in the UAMY Form 4?

The stock option has an exercise price of $2.57 and a 10-year term, vesting subject to performance measures.

How do the RSUs vest according to the filing?

The RSU vests one-third on each of May 27, 2026, 2027, and 2028, contingent on continued service and plan approval.

When were the transactions dated and when was the Form 4 signed?

Transactions are dated 05/27/2025 and the Form 4 bears a signature date of 09/15/2025.