Ur-Energy (URG) director receives 16,407 shares from RSU vesting

Rhea-AI Filing Summary

Ur-Energy Inc. reported an insider equity award vesting and share issuance. On December 23, 2025, a director redeemed 16,407 Restricted Share Units (RSUs) granted on December 7, 2023, receiving 16,407 common shares. The RSUs became redeemable on December 7, 2025 and were released on December 23, 2025. The common shares are shown at a price of $1.4657 per share, equivalent to Cdn$2.02 using an exchange rate of Cdn$1.00 = US$0.7256 as reported by the Bank of Canada. After this transaction, the reporting person beneficially owned 558,016 common shares directly, along with 45,804 derivative securities, consisting of additional RSUs exchangeable for common shares.

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^*

HUBER GARY C

(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)	558,016	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
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FAQ

What insider transaction is reported for Ur-Energy Inc. (URG)?

The filing reports that on December 23, 2025, a director redeemed 16,407 RSUs and received 16,407 Ur-Energy common shares.

How many Ur-Energy (URG) shares did the insider own after the RSU redemption?

Following the reported transaction, the insider beneficially owned 558,016 Ur-Energy common shares directly, plus 45,804 derivative securities consisting of RSUs exchangeable for common shares.

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

The common shares received upon redemption of the RSUs are shown at a price of $1.4657 per share, which equals Cdn$2.02 using an exchange rate of Cdn$1.00 = US$0.7256 reported by the Bank of Canada.

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

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

What does each Ur-Energy (URG) RSU represent in this Form 4 filing?

Each RSU is redeemable upon vesting for one Ur-Energy common share, so 16,407 RSUs resulted in 16,407 common shares being issued to the director.

What is the relationship of the reporting person to Ur-Energy Inc. (URG)?

The reporting person is identified as a director of Ur-Energy Inc. and files the Form 4 as a single reporting person.