[Form 3] Energy Fuels Inc. Initial Statement of Beneficial Ownership

Rhea-AI Filing Summary

Energy Fuels announced an Initial Statement of Beneficial Ownership (Form 3) for Kevin Martin Balloch, who serves as Senior VP of Project Finance. The filing details his securities ownership as of April 18, 2025.

Key ownership details:

• Common Shares: Directly owns 142,500 shares (including 51,074 unvested restricted stock units)
• Indirect Ownership: 119,334 common shares held by spouse
• Stock Options: 43,037 options at $6.11 exercise price, expiring January 28, 2030, with vesting schedule: - 50% one year from January 29, 2025 grant date - 50% two years from grant date

The filing was executed by David Frydenlund as attorney-in-fact for Balloch on June 25, 2025, establishing the initial reporting baseline for the officer's equity holdings in Energy Fuels.

SEC Form 3

FORM 3

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0104
Estimated average burden
hours per response:			0.5

1. Name and Address of Reporting Person^*

BALLOCH KEVIN MARTIN

(Last) (First) (Middle)

C/O ENERGY FUELS INC.

225 UNION BLVD., SUITE 600

(Street)

LAKEWOOD CO 80228

(City) (State) (Zip)

2. Date of Event Requiring Statement (Month/Day/Year)
04/18/2025

3. Issuer Name and Ticker or Trading Symbol
ENERGY FUELS INC [ UUUU ]

4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	Sr VP Project Finance

5. 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 Beneficially Owned
1. Title of Security (Instr. 4)	2. Amount of Securities Beneficially Owned (Instr. 4)	3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	4. Nature of Indirect Beneficial Ownership (Instr. 5)
Common Shares	142,500(1)	D
Common Shares	119,334	I	Held by spouse

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4)	2. Date Exercisable and Expiration Date (Month/Day/Year)		3. Title and Amount of Securities Underlying Derivative Security (Instr. 4)		4. Conversion or Exercise Price of Derivative Security	5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5)	6. Nature of Indirect Beneficial Ownership (Instr. 5)
	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Employee Stock Option	(2)	01/28/2030	Common Shares	43,037	$6.11	D

Explanation of Responses:

1. Includes 51,074 unvested restricted stock units.

2. The options were granted on January 29, 2025, and vest as follows: 50% one year from grant date; 50% two years from grant date.

Remarks:

Exhibit 24.1 Power of Attorney

	/s/ David Frydenlund as attorney-in-fact for Kevin Martin Balloch	06/25/2025
	** 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 5 (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.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

How many UUUU shares does Kevin Martin Balloch own directly as of June 2025?

According to the Form 3 filing, Kevin Martin Balloch directly owns 142,500 common shares of Energy Fuels (UUUU), which includes 51,074 unvested restricted stock units.

What is Kevin Balloch's position at Energy Fuels (UUUU)?

Kevin Martin Balloch serves as Senior Vice President of Project Finance at Energy Fuels Inc. (UUUU), as disclosed in the Form 3 filing from June 28, 2025.

What stock options does Kevin Balloch hold in UUUU and what are their terms?

According to the Form 3, Balloch holds employee stock options for 43,037 common shares with an exercise price of $6.11, expiring on January 28, 2030. The options were granted on January 29, 2025, and vest in two equal portions: 50% one year from grant date and 50% two years from grant date.

Does Kevin Balloch have any indirect ownership of UUUU shares?

Yes, Kevin Balloch indirectly owns 119,334 common shares of Energy Fuels (UUUU) which are held by his spouse, as reported in the Form 3 filing.

When did Kevin Balloch become required to file beneficial ownership reports for UUUU?

The Form 3 indicates that April 18, 2025 was the date of event requiring the statement, which typically corresponds to when Balloch assumed his position as Senior VP Project Finance at Energy Fuels Inc.