Ur-Energy (URG) director receives new stock options and RSU awards

Rhea-AI Filing Summary

Ur-Energy Inc. director Form 4 filing reports new equity awards. On 12/22/2025, the reporting person, a director of UR-ENERGY INC (URG), received options to purchase 256,104 common shares at an exercise price of $1.4657 per share, which reflects a price of Cdn$2.02 using an exchange rate of Cdn$1.00 = US$0.7256. These options vest in three equal installments of 85,368 shares on 12/22/2026, 12/22/2027, and 12/22/2028, and expire on 12/22/2030.

The director also received 64,026 restricted share units on 12/22/2025. Each unit is redeemable for one common share and will be settled on or within 30 days of 12/22/2027 under the company’s plan. Following these grants, the director beneficially owns 1,118,368 derivative securities tied to options and 171,658 derivative securities tied to restricted share units, all held directly.

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^*

CASH JOHN

(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)
12/22/2025

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

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)	$1.4657(1)	12/22/2025		A		256,104		(2)	12/22/2030	Common Shares	256,104	$0	1,118,368	D
Restricted share units (exchange for common shares)	(3)	12/22/2025		A		64,026		(4)	(4)	Common Shares	64,026	$0	171,658	D

Explanation of Responses:

1. The options were priced at $2.02 Canadian dollars; $1.4657 U.S. dollars is the equivalent of the exercise price pursuant to the exchange rate realized as of the transaction date (Cdn$1.00 = US$0.7256) www.bankofcanada.ca.

2. The options will vest and become exercisable as follows: 85,368 on 12/22/2026; 85,368 on 12/22/2027; and 85,368 on 12/22/2028.

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

4. Each unit will be redeemed for one common share on or within 30 days of 12/22/2027 per the terms of the plan.

	/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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** 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 (URG) report in this Form 4?

The filing shows a director of Ur-Energy Inc. (URG) received new equity awards on 12/22/2025, including stock options and restricted share units tied to the company’s common shares.

How many Ur-Energy (URG) stock options were granted and at what price?

The director was granted 256,104 common share options with an exercise price of $1.4657 per share, which corresponds to Cdn$2.02 based on the stated exchange rate.

What is the vesting schedule for the new Ur-Energy (URG) stock options?

The options vest in three equal tranches of 85,368 shares each, on 12/22/2026, 12/22/2027, and 12/22/2028, and they expire on 12/22/2030.

What restricted share units (RSUs) were granted in this Ur-Energy (URG) Form 4?

The director received 64,026 restricted share units on 12/22/2025. Each unit is redeemable for one common share upon vesting.

When will the Ur-Energy (URG) restricted share units be settled into shares?

Each restricted share unit will be redeemed for one common share on or within 30 days of 12/22/2027, in line with the company’s plan terms.

How many derivative securities does the Ur-Energy (URG) director own after these transactions?

After the reported grants, the director beneficially owns 1,118,368 derivative securities related to options and 171,658 derivative securities related to restricted share units, all held directly.