[Form 4] Energy Fuels Inc. Insider Trading Activity

Rhea-AI Filing Summary

Dennis L. Higgs, a director of Energy Fuels Inc. (UUUU), reported two open-market sales of common shares on 09/10/2025 and 09/11/2025. He sold 7,500 shares at an average price of $13.12 on 09/10/2025 and 10,000 shares at an average price of $12.63 on 09/11/2025. Following the 09/10 sale his reported beneficial ownership was 246,381 shares and after the 09/11 sale it was 236,381 shares. The filing notes the reported prices are averages of multiple transactions and shows USD conversion rates from Canadian dollars used for 09/10/2025 and 09/11/2025.

Positive

• Timely disclosure of insider transactions by a director in a Form 4
• Detailed reporting including averaged transaction prices and CAD-to-USD conversion rates for transparency

Negative

• Insider dispositions totaling 17,500 shares reduced the director's holdings from 253,881 to 236,381 over two days
• No context provided in the filing about the reason for the sales (e.g., 10b5-1 plan), limiting interpretability

Insights

Corporate Governance Expert

TL;DR: Insider sales by a director were disclosed clearly; transactions appear routine rather than indicating corporate distress.

The Form 4 shows a director, Dennis L. Higgs, executed two open-market dispositions totaling 17,500 common shares over two days, reducing his beneficial holdings to 236,381 shares. The filing includes transactional averaging and currency conversion details, which supports transparency. There is no accompanying information about 10b5-1 plans or other context in the filing, so the governance implication is limited to clear disclosure of the sale amounts and resulting ownership.

Securities Analyst

TL;DR: Director sold a measurable stake; transaction size is modest relative to total outstanding shares (not provided).

The reported sales—7,500 shares at $13.12 and 10,000 shares at $12.63—are explicitly disclosed with post-transaction ownership figures. Without the company’s share count or insider ownership context, the market impact cannot be assessed from this filing alone. The disclosure of price averaging and CAD-to-USD conversion rates is helpful for auditability. Absent additional material information, this is a standard Form 4 reporting of insider dispositions.

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

HIGGS DENNIS LYLE

(Last) (First) (Middle)

C/O ENERGY FUELS INC.

225 UNION BLVD., SUITE 600

(Street)

LAKEWOOD CO 80228

(City) (State) (Zip)

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

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)
09/10/2025

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	09/10/2025		S		7,500	D	$13.12	246,381	D
Common Shares	09/11/2025		S		10,000	D	$12.63	236,381	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

Explanation of Responses:

Remarks:

The prices reported in Table I constitute averages of multiple transactions occurring on the corresponding Transaction Dates. Specific details are available to the SEC upon request. The prices reported are also converted into USD from Canadian Dollars at a rate of 1 USD to 0.7222 CAD on 9/10/2025 and a rate of 1 USD to 0.7215 on 9/11/2025.

	Dennis L. Higgs	09/11/2025
	** 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.
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

What insider transactions were reported for Energy Fuels Inc. (UUUU)?

The filing reports two open-market sales by director Dennis L. Higgs: 7,500 shares on 09/10/2025 at an average price of $13.12 and 10,000 shares on 09/11/2025 at an average price of $12.63.

How many shares did Dennis L. Higgs own after the reported transactions?

After the 09/10/2025 sale his reported ownership was 246,381 shares and after the 09/11/2025 sale it was 236,381 shares.

Did the Form 4 indicate these transactions were part of a 10b5-1 trading plan?

No. The filed Form 4 does not indicate that the transactions were made pursuant to a 10b5-1 plan.

Are the reported prices exact trade prices?

The filing states the prices are averages of multiple transactions executed on each transaction date; specific trade-level details are available to the SEC upon request.

Were currency conversions disclosed in the Form 4?

Yes. The filing discloses CAD-to-USD conversion rates used: 1 USD = 0.7222 CAD on 09/10/2025 and 1 USD = 0.7215 CAD on 09/11/2025.