Ur-Energy (URG) director reports RSU conversion and share sale in Form 4

Rhea-AI Filing Summary

Ur-Energy Inc. director reports RSU release and share sale. A board member converted 16,407 restricted share units into common shares of Ur-Energy Inc. on 12/24/2025 at an equivalent price of $1.4548 per share in U.S. dollars, based on a Canadian dollar price of Cdn$1.9894. On the same date, the director sold 16,407 common shares at the same U.S. dollar equivalent price.

After these transactions, the director directly owned 84,179 common shares and held 45,804 restricted share units, each RSU being redeemable for one common share upon vesting. The RSUs involved became redeemable on December 7, 2025 and were released on December 23, 2025.

Insider Trade Summary

16,407 shares exercised/converted

Mixed 3 txns

Insider Chang Robby Sai Kit

Role Director

Type	Security	Shares	Price	Value
Exercise	Restricted share units (exchange for common shares)	16,407	$0.00	--
Exercise	Common Shares	16,407	$1.4548	$24K
Disposition	Common Shares	16,407	$1.4548	$24K

Holdings After Transaction: Restricted share units (exchange for common shares) — 45,804 shares (Direct); Common Shares — 100,586 shares (Direct)

Footnotes (1)

1. The RSUs were released and the shares were acquired at $1.9894 Canadian dollars, $1.4548 U.S. dollars is the equivalent price pursuant to the exchange rate realized as of the transaction date (Cdn$1.00 = US$0.7313). The shares were sold at $1.9894 Canadian dollars, $1.4548 U.S. dollars is the equivalent of the sales price pursuant to the exchange rate realized as of the transaction date (Cdn$1.00 = US$0.7313). Each RSU is redeemable upon vesting for one common share. The RSUs became redeemable on December 7, 2025 and were released on December 23, 2025.

Form 4 Insider Transactions: What Each Field Means →

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^*

Chang Robby Sai Kit

(Last) (First) (Middle)

10758 W. CENTENNIAL ROAD

SUITE 200

(Street)

LITTLETON CO 80127

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
UR-ENERGY INC [ URG ]

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)
12/23/2025

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	12/24/2025		M		16,407	A	$1.4548(1)	100,586	D
Common Shares	12/24/2025		D		16,407	D	$1.4548(2)	84,179	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
Restricted share units (exchange for common shares)	(3)	12/24/2025		M			16,407	(4)	(4)	Common Shares	16,407	$0	45,804	D

Explanation of Responses:

1. The RSUs were released and the shares were acquired at $1.9894 Canadian dollars, $1.4548 U.S. dollars is the equivalent price pursuant to the exchange rate realized as of the transaction date (Cdn$1.00 = US$0.7313).

2. The shares were sold at $1.9894 Canadian dollars, $1.4548 U.S. dollars is the equivalent of the sales price pursuant to the exchange rate realized as of the transaction date (Cdn$1.00 = US$0.7313).

3. Each RSU is redeemable upon vesting for one common share.

4. The RSUs became redeemable on December 7, 2025 and were released on December 23, 2025.

	/s/ Roger L. Smith Roger L. Smith pursuant to Power of Attorney	12/29/2025
	** 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 insider transaction did Ur-Energy Inc. (URG) report in this Form 4?

A director of Ur-Energy Inc. reported converting 16,407 restricted share units (RSUs) into common shares on 12/24/2025 and selling 16,407 common shares on the same date.

At what price were the Ur-Energy (URG) RSUs and shares valued in this transaction?

The RSUs were released and the shares were sold at Cdn$1.9894 per share, which equaled $1.4548 in U.S. dollars using an exchange rate of Cdn$1.00 = US$0.7313.

How many Ur-Energy (URG) common shares does the director own after the reported transaction?

Following the reported sale, the director directly owned 84,179 common shares of Ur-Energy Inc.

How many restricted share units (RSUs) does the Ur-Energy (URG) director still hold?

After the transaction, the director beneficially owned 45,804 restricted share units, each redeemable upon vesting for one common share.

When did the Ur-Energy (URG) RSUs become redeemable and when were they released?

The RSUs became redeemable on December 7, 2025 and were released on December 23, 2025, before being exchanged for common shares on 12/24/2025.

What type of securities are involved in this Ur-Energy (URG) insider filing?

The filing involves restricted share units (RSUs) that were exchanged for common shares of Ur-Energy Inc., followed by a sale of those common shares.