[Form 4] Energy Fuels Inc. Insider Trading Activity

Rhea-AI Filing Summary

Energy Fuels insider Timothy Carstens, listed as EVP, Heavy Minerals Sands Ops, reported a sale of 250,000 common shares on 08/08/2025 at an average price of $10.441 (price is noted as an average over multiple tranches). After the transaction the filing shows he beneficially owns 267,029 shares directly and 10,914 shares indirectly via Varadero Pty Ltd. The form is signed 08/11/2025 and was filed by one reporting person.

Positive

• Transparent disclosure of the sale date (08/08/2025), average price ($10.441), and that the price is an average over multiple tranches
• Post-transaction holdings disclosed: 267,029 shares direct and 10,914 shares indirect via Varadero Pty Ltd
• Filing signed and submitted by one reporting person (signature dated 08/11/2025)

Negative

• Material insider sale: disposition of 250,000 common shares reported
• Sale price revealed: average sales price of $10.441, indicating proceeds realized by the reporting person

Insights

Securities Analyst

TL;DR: Insider sale of 250,000 UUUU shares at an average $10.441; direct and indirect holdings remain disclosed.

The Form 4 reports a disposition (Code S) of 250,000 common shares on 08/08/2025 with an average sales price of $10.441, described as an average over multiple tranches. The filing shows continued ownership of 267,029 shares directly and 10,914 indirectly via Varadero Pty Ltd. This provides clear, contemporaneous disclosure of the officer's post-transaction holdings but does not explain the motivation for the sale.

Corporate Governance Expert

TL;DR: Report conforms to Section 16 reporting format and discloses direct and indirect beneficial ownership after the sale.

The form identifies the reporting person as an officer (EVP, Heavy Minerals Sands Ops) and indicates the filing was made by one reporting person. The remarks note the reported price is an average sales price over multiple tranches. The document records the transaction and the signature date (08/11/2025), giving investors documented transparency about the officer's holdings and the sale details shown on this Form 4.

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
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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^*

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)
08/08/2025

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	08/08/2025		S		250,000	D	$10.441	267,029	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:

Remarks:

Table I price constitutes an average sales price over multiple tranches.

	Timothy Carstens	08/11/2025
	** 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 did the Form 4 for Energy Fuels (UUUU) report?

The Form 4 reports that Timothy Carstens sold 250,000 common shares on 08/08/2025 at an average price of $10.441, with the price noted as an average over multiple tranches.

How many UUUU shares does Timothy Carstens own after the reported transaction?

The filing shows Carstens beneficially owns 267,029 shares directly and 10,914 shares indirectly via Varadero Pty Ltd.

What is Timothy Carstens' role at Energy Fuels noted on the Form 4?

The form lists him as an Officer with the title EVP, Heavy Minerals Sands Ops.

When was the Form 4 signed?

The signature date on the Form 4 is 08/11/2025.

Does the filing explain the sales price detail?

Yes. The remarks state the Table I price represents an average sales price over multiple tranches.