[Form 4] ENERGY FUELS INC Insider Trading Activity

Rhea-AI Filing Summary

ENERGY FUELS INC (UUUU) director Dennis L. Higgs reported three open-market sales totaling 7,500 common shares on September 16-17, 2025. The filings show sales of 2,500 shares on 09/16/2025 at a reported USD price of $13.72 (converted from CAD), and two sales of 2,500 shares each on 09/17/2025 at reported USD prices of $13.80 and $13.98 (converted from CAD). Following these transactions, Mr. Higgs' beneficial ownership declined from 233,881 to 228,881 shares, and all holdings reported are direct. The Form 4 includes conversion-rate notes explaining the CAD-to-USD price conversions for the reported dates.

Positive

• None.

Negative

• Director sold 7,500 common shares across 09/16/2025–09/17/2025, reducing beneficial ownership from 233,881 to 228,881 shares
• Sales were executed in the open market (codes indicate disposition) which may be monitored by investors tracking insider transactions

Insights

Financial Analyst

TL;DR: Director executed modest open-market sales totaling 7,500 shares over two days; impact appears limited given remaining shareholding.

The transactions reported are routine open-market dispositions by a director rather than option exercises or derivative transactions. The total sold represents about 3.2% of the director's pre-sale holding (7,500 of 233,881 shares). Prices are reported in USD after CAD conversions; no derivative activity is reported. From a capital-markets perspective, these sales are material only to the extent investors track insider behavior, but they do not by themselves indicate a change in company guidance, operations, or capital structure.

Corporate Governance Expert

TL;DR: Transactions are disclosed properly on Form 4 and show direct ownership reduction by a director; disclosure appears compliant.

The Form 4 identifies Dennis L. Higgs as a director and reports timely disclosure of the sales, including explanatory remarks on currency conversion. The filing lists the form as filed by one reporting person and includes a manual signature date of 09/18/2025. There is no indication in the filing of any late reporting, related-party transactions, or use of derivative instruments. For governance reviewers, these are standard disclosures of open-market sales with appropriate explanatory notes.

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).

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)
09/16/2025

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	09/16/2025		S		2,500	D	$13.72	233,881	D
Common Shares	09/17/2025		S		2,500	D	$13.8	231,381	D
Common Shares	09/17/2025		S		2,500	D	$13.98	228,881	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:

1. Price reported for 9/16/2025 transaction represents a CAD to USD conversion using that date's conversion rate of 1:0.7279. 2. Prices reported for 9/17/2025 transactions represent CAD to USD conversions using that date's conversion rate of 1:0.7262.

	Dennis L. Higgs	09/18/2025
	** 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 did ENERGY FUELS INC (UUUU) report on this Form 4?

Dennis L. Higgs, a director, reported three open-market sales totaling 7,500 common shares on 09/16/2025 and 09/17/2025.

At what prices were the UUUU shares sold by the director?

Reported USD prices were $13.72 (09/16/2025), $13.80 (09/17/2025), and $13.98 (09/17/2025), with the filing noting CAD-to-USD conversions.

How did the director's total holdings change after the reported sales?

Beneficial ownership decreased from 233,881 shares to 228,881 shares following the transactions.

Were any derivative securities reported on this Form 4 for UUUU?

No derivative securities were reported. Table II of the Form 4 contains no entries.

What relationship to the issuer does the reporting person have?

Dennis L. Higgs is reported as a director of ENERGY FUELS INC.