[Form 4] ENERGY FUELS INC Insider Trading Activity

Rhea-AI Filing Summary

Energy Fuels Inc. (UUUU) executive vice president of Heavy Minerals Sands Operations, Timothy J. Carstens, reported a sale of common shares. On 11/20/2025 he sold 100,000 common shares at a price of $14.27 per share in a transaction coded "S" (sale). After this trade, he reported beneficial ownership of 167,029 common shares held directly and 10,914 common shares held indirectly through Varadero Pty Ltd.

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^*

CARSTENS TIMOTHY JAMES

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Heavy Minerals Sands Ops

3. Date of Earliest Transaction (Month/Day/Year)
11/20/2025

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	11/20/2025		S		100,000	D	$14.27	167,029	D
Common Shares								10,914	I	Varadero Pty Ltd

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:

	Timothy J. Carstens	11/24/2025
	** 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 transaction did Energy Fuels (UUUU) report in this Form 4?

The Form 4 reports that EVP Heavy Minerals Sands Operations Timothy J. Carstens sold 100,000 common shares of Energy Fuels Inc. on 11/20/2025.

At what price were the Energy Fuels (UUUU) shares sold in the reported transaction?

The reported sale was for 100,000 common shares at a price of $14.27 per share.

How many Energy Fuels (UUUU) shares does Timothy J. Carstens own after the sale?

Following the transaction, Timothy J. Carstens reported 167,029 common shares held directly and 10,914 common shares held indirectly through Varadero Pty Ltd.

What is Timothy J. Carstens’ role at Energy Fuels (UUUU)?

Timothy J. Carstens is an officer of Energy Fuels Inc., serving as EVP, Heavy Minerals Sands Ops, as indicated in the filing.

Does this Energy Fuels (UUUU) Form 4 report any derivative securities?

The filing includes a table for derivative securities, but no specific derivative transactions or holdings are listed in the provided excerpt.

Is the Energy Fuels (UUUU) Form 4 filed by a single reporting person?

Yes. The filing indicates that the Form is filed by one reporting person, identified as Timothy J. Carstens.