Ur-Energy Inc (URG) director converts 16,407 RSUs to 16,407 common shares

Rhea-AI Filing Summary

Ur-Energy Inc. director reports vesting of restricted share units

A director of Ur-Energy Inc. (URG) reported the redemption of 16,407 restricted share units (RSUs) on December 23, 2025, resulting in the acquisition of 16,407 common shares. These RSUs were originally granted on December 7, 2023 and became redeemable on December 7, 2025, with each RSU converting into one common share.

The common shares were valued at $1.4657 U.S. dollars per share, equivalent to C$2.02, based on an exchange rate of Cdn$1.00 = US$0.7256 on the transaction date as reported by the Bank of Canada. Following this transaction, the director beneficially owns 580,884 common shares directly and 45,804 derivative securities (including remaining RSUs).

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

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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^*

Parker Thomas H

(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	12/23/2025		M		16,407(1)	A	$1.4657(2)	580,884	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)	12/23/2025		M			16,407	(4)	(4)	Common Shares	16,407	$0	45,804	D

Explanation of Responses:

1. On December 7, 2023, the reporting person was granted 16,407 Restricted Share Units ("RSUs"). On redemption, the reporting person received 16,407 common shares.

2. The common shares were priced at $2.02 Canadian dollars and $1.4657 U.S. dollars is the equivalent of the purchase price pursuant to the exchange rate as of the transaction date (Cdn$1.00 = US$0.7256) as reported by Bank of Canada on its website, www.bankofcanada.ca.

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.
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FAQ

What insider transaction did Ur-Energy Inc (URG) disclose in this Form 4?

The filing reports that a director of Ur-Energy Inc redeemed 16,407 restricted share units (RSUs) on December 23, 2025, receiving 16,407 common shares in exchange.

When were the Ur-Energy (URG) restricted share units granted and when did they vest?

The director was granted 16,407 RSUs on December 7, 2023. These RSUs became redeemable on December 7, 2025 and were released as common shares on December 23, 2025.

What was the share price used for the Ur-Energy (URG) RSU redemption?

The common shares were valued at C$2.02 per share, which corresponded to $1.4657 U.S. dollars per share using an exchange rate of Cdn$1.00 = US$0.7256 as reported by the Bank of Canada on the transaction date.

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

After the RSU redemption, the director beneficially owns 580,884 common shares directly, as reported in the filing.

How many derivative securities related to Ur-Energy (URG) does the director still hold?

Following the reported transaction, the director holds 45,804 derivative securities, which include remaining restricted share units and similar instruments.

What does each Ur-Energy (URG) restricted share unit represent in this filing?

Each restricted share unit (RSU) is redeemable upon vesting for one common share of Ur-Energy Inc, as stated in the explanation of responses.