[Form 4] Energy Fuels Inc. Insider Trading Activity

Rhea-AI Filing Summary

Sale of 266,595 common shares reported by Saleem Drera, an officer of Energy Fuels Inc. (UUUU). The Form 4 shows a same-day sale on 08/25/2025 for an average price of $11.0091 per share, leaving the reporting person with 24,474 shares beneficially owned after the transaction. The filing explains these shares were originally received in 2024 as partial consideration when the reporting owner sold RadTran LLC to the issuer. The price shown is an average of multiple same-day transactions, with details available to the SEC on request.

Positive

• Disclosure includes an explicit explanation that the sold shares were received as partial consideration for the issuer's 2024 acquisition of RadTran LLC.
• Form 4 reports exact transaction details: date (08/25/2025), number of shares sold (266,595), average price ($11.0091) and shares held after sale (24,474).
• Reporting person identified and titled as VP Radioisotopes, Radiological Systems and IP, providing context for relationship to issuer.

Negative

• Large insider sale of 266,595 shares was executed, which may be viewed unfavorably by some investors despite the explanatory note.
• Price reported is an average across multiple same-day transactions; the filing does not list per-trade detail in the public form (available to the SEC on request).

Insights

Financial Analyst

TL;DR: Officer disclosed a large same-day sale of 266,595 shares at ~$11.01, retaining 24,474 shares.

The Form 4 documents a disposal of 266,595 common shares on 08/25/2025 at an average price of $11.0091, leaving the reporting officer with 24,474 shares. The filing states the shares were acquired in 2024 as partial consideration for the issuer's purchase of RadTran LLC, clarifying the economic origin of the shares sold. The reported average price reflects multiple same-day trades; the filer notes that transaction-level details can be provided to the SEC. From a reporting perspective, the disclosure is complete and provides a direct link between the prior corporate transaction and the subsequent insider sale.

Corporate Governance Expert

TL;DR: Insider sale disclosed with explanatory remark linking shares to a prior acquisition; retention after sale is modest.

The filing identifies Saleem Drera as an officer (VP Radioisotopes, Radiological Systems and IP) and reports a significant disposition of shares acquired as consideration for a 2024 corporate purchase. The explanation aligns the sale with previously issued consideration rather than new option exercise or market compensation, which is relevant for assessing insider incentives. The record includes the required signature and states the average sale price was calculated across same-day trades, maintaining regulatory transparency.

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

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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^*

DRERA SALEEM

(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)	X	Other (specify below)
	VP Radioisotopes, Radiological		Systems and IP

3. Date of Earliest Transaction (Month/Day/Year)
08/25/2025

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	08/25/2025		S		266,595	D	$11.0091	24,474	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. The common shares of Issuer sold by the Reporting Owner on August 25, 2025 were acquired as partial consideration for the Issuer's purchase of RadTran LLC in 2024, which the Reporting Owner owned together with two business partners. 2. Price reported in Table I, Column 4 represents the average sale price over a number of same-day transactions. Details available to the SEC upon request.

	Saleem Drera	08/27/2025
	** 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.
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FAQ

What did Saleem Drera report on the Form 4 for UUUU?

The Form 4 reports a sale of 266,595 common shares of Energy Fuels Inc. on 08/25/2025 at an average price of $11.0091, leaving 24,474 shares owned.

Why were the sold shares owned by the reporting person?

The filing states the shares were acquired in 2024 as partial consideration when the reporting owner sold RadTran LLC to the issuer.

Does the Form 4 show per-trade prices for the sale?

No. The Form 4 reports an average sale price across same-day transactions and notes that detailed trade information is available to the SEC upon request.

What is Saleem Drera’s role at Energy Fuels?

The Form 4 identifies him as an Officer with the title VP Radioisotopes, Radiological Systems and IP.

How many shares did the reporting person hold after the sale?

The filing reports 24,474 common shares beneficially owned following the reported transaction.