Ur-Energy Inc (URG) COO reports RSU vesting and share issuance

Rhea-AI Filing Summary

Ur-Energy Inc.'s Chief Operating Officer reported the vesting and settlement of previously granted restricted share units. On December 23, 2025, 27,745 RSUs granted on December 7, 2023 became redeemable for common shares. Of these, 6,756 RSUs were withheld by the company to cover tax obligations and the officer received 20,989 common shares, increasing direct beneficial ownership to 345,764 common shares after the transaction.

The RSUs were exchanged into common shares at an implied price of $2.02 Canadian dollars, equivalent to $1.4657 U.S. dollars based on a Bank of Canada exchange rate of Cdn$1.00 = US$0.7256 on the transaction date. Each RSU was redeemable for one common share, and the units became redeemable on December 7, 2025 and were released on December 23, 2025.

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^*

HATTEN STEVEN M.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Chief Operating Officer

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		20,989(1)	A	$1.4657(2)	345,764	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		27,745		(4)	(4)	Common Shares	27,745	$0	74,332	D

Explanation of Responses:

1. On December 7, 2023, the reporting person was granted 27,745 Restricted Share Units ("RSUs"). On redemption, 6,756 RSUs were withheld by the Company solely for the purpose of satisfying tax withholding obligations and the reporting person received 20,989 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
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FAQ

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

The filing reports that Ur-Energy Inc's Chief Operating Officer settled 27,745 restricted share units on December 23, 2025, resulting in the issuance of 20,989 common shares after tax withholding.

How many Ur-Energy (URG) shares did the officer receive and at what price?

The officer received 20,989 common shares after withholding. The shares were valued at $2.02 Canadian dollars, equivalent to $1.4657 U.S. dollars using a Bank of Canada exchange rate of Cdn$1.00 = US$0.7256 on the transaction date.

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

Following the RSU settlement, the reporting person directly beneficially owns 345,764 common shares of Ur-Energy Inc.

What happened to the withheld Ur-Energy (URG) RSUs in this Form 4 filing?

Out of the 27,745 RSUs that vested, 6,756 RSUs were withheld by the company solely to satisfy tax withholding obligations, with the remaining units settled in common shares to the officer.

When did the Ur-Energy (URG) restricted share units vest and become redeemable?

The 27,745 restricted share units were granted on December 7, 2023, became redeemable on December 7, 2025, and were released and exchanged for common shares on December 23, 2025.

What type of derivative security was involved in this Ur-Energy (URG) insider transaction?

The transaction involved restricted share units, each of which was redeemable upon vesting for one common share of Ur-Energy Inc.