[Form 4] UNITED STATES ANTIMONY CORP Insider Trading Activity

Rhea-AI Filing Summary

Gary C. Evans, Chairman & CEO of United States Antimony Corp (UAMY), reported grants on 05/27/2025 consisting of 750,000 restricted stock units (RSUs) and a stock option covering 750,000 shares with an exercise price of $2.57. One-third of the RSU award (250,000 shares) vested on 05/27/2025 and the remaining two tranches vest on 05/27/2026 and 05/27/2027, subject to continued service and shareholder approval of the issuer’s Amended and Restated 2023 Equity Incentive Plan. The option award vests only upon meeting specified performance measures anytime during its 10-year term and is also subject to shareholder approval. The Form 4 was signed by Mr. Evans on 09/16/2025.

Positive

• Immediate vesting of 250,000 RSUs on 05/27/2025 aligns part of CEO compensation with shareholders
• Performance-based option vesting links a large portion of potential upside to achievement of specified metrics

Negative

• All awards are contingent on shareholder approval of the Amended and Restated 2023 Equity Incentive Plan, so grant effectiveness is not guaranteed
• Potential dilution of 1,500,000 shares if both RSUs and options fully vest and options are exercised

Insights

Financial Analyst

TL;DR: Significant equity awards granted to the CEO increase potential insider alignment but are conditional on shareholder approval and performance.

The grants total 750,000 RSUs and a 750,000-share option with a $2.57 exercise price, creating potential future dilution if all awards vest and are exercised. Immediate vesting of 250,000 RSUs provides near-term alignment with shareholders; remaining RSUs vest over two years contingent on service and shareholder approval, while the option requires performance-based vesting within a 10-year term. These conditions limit immediate dilution and tie ultimate realization to continued service, shareholder action, and performance metrics.

Corporate Governance Expert

TL;DR: Awards follow typical executive compensation structure but depend on shareholder approval, highlighting governance oversight.

The reported awards are time- and performance-contingent and explicitly conditioned on the shareholder approval of an amended equity plan, signaling reliance on formal governance processes. One-third of the RSUs vested immediately, demonstrating some immediate grant realization, while the remainder and the performance-driven option remain subject to future approval and achievement of metrics. The disclosure is clear on conditions and vesting schedule, facilitating shareholder review of potential dilution and executive incentives.

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

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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).

1. Name and Address of Reporting Person^*

EVANS GARY 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)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chairman & CEO

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		750,000(1)		(1)	(1)	Common Stock	750,000	(1)	0(1)	D
Stock Option(2)	$2.57	05/27/2025		A		750,000(2)		(2)	(2)	Common Stock	750,000	(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 and Restated 2023 Equity Incentive Plan. One-third, or 250,000 shares of the 750,000 total number of shares, of the RSU award vested 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 each 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/ Gary C. Evans	09/16/2025
	** 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 did Gary C. Evans report on Form 4 for UAMY?

He reported grants of 750,000 RSUs and a stock option for 750,000 shares at an exercise price of $2.57, with transactions dated 05/27/2025.

How many RSU shares vested immediately for the CEO (UAMY)?

250,000 RSU shares (one-third of the 750,000 award) vested on 05/27/2025.

Are the RSU and option awards for UAMY effective immediately?

No. Both awards are contingent on shareholder approval of the company’s Amended and Restated 2023 Equity Incentive Plan and other vesting conditions.

What are the vesting conditions for the stock option reported by UAMY?

The option vests upon meeting the performance measures specified in the grant at any time during its 10-year term, subject to continued service and shareholder approval.

When were these transactions signed on the Form 4?

The Form 4 was signed by Gary C. Evans on 09/16/2025.