[Form 4] UR-ENERGY INC Insider Trading Activity

Rhea-AI Filing Summary

Ur‑Energy (URG) reported an insider transaction by a director. On 11/10/2025, 50,000 common shares were acquired through an option exercise at $0.4494 per share and 50,000 shares were sold at $1.2882. Following these transactions, 427,695 common shares were owned directly. The filing notes Canadian prices converted at Cdn$1.00 = US$0.7133, and 500,304 common share options remained beneficially owned after the transactions.

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)
11/10/2025

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	11/10/2025		M		50,000	A	$0.4494(1)	477,695	D
Common Shares	11/10/2025		S		50,000	D	$1.2882(2)	427,695	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
Common share options (right to buy)	$0.4494(1)	11/10/2025		M			50,000	(3)	11/13/2025	Common Shares	50,000	$0	500,304	D

Explanation of Responses:

1. The options were exercised and the shares were acquired at $0.63 Canadian dollars, $0.4494 U.S. dollars is the equivalent price pursuant to the exchange rate realized as of the transaction date (Cdn$1.00 = US$0.7133).

2. The shares were sold at $1.8060 Canadian dollars, $1.2882 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$0.7133).

3. The options are a portion of the 213,914 options granted on 11/13/2020 and vested and became exercisable as follows: 71,305 on 11/13/2021; 71,305 on 11/13/2022; and 71,304 on 11/13/2023.

	/s/ Roger L. Smith Roger L. Smith pursuant to Power of Attorney	11/12/2025
	** 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 URG disclose in this Form 4?

A director exercised 50,000 options at $0.4494 and sold 50,000 common shares at $1.2882 on 11/10/2025.

What is the insider’s role at Ur‑Energy (URG)?

The reporting person is a Director.

How many URG shares does the insider own after the transactions?

After the reported transactions, the insider owned 427,695 common shares directly.

How many options does the insider still hold at URG?

The filing shows 500,304 common share options beneficially owned after the transactions.

What were the transaction prices reported for URG?

Option exercise price was $0.4494 per share; sale price was $1.2882 per share, based on a Cdn$ to US$ exchange rate.

What exchange rate was used for the price conversion?

The filing cites Cdn$1.00 = US$0.7133 for converting Canadian dollar prices to U.S. dollars.

Was the ownership reported as direct or indirect?

The common share ownership following the transactions was reported as Direct (D).