[Form 4] ENERGY FUELS INC Insider Trading Activity

Rhea-AI Filing Summary

Dennis L. Higgs, a director of Energy Fuels Inc. (UUUU), reported sales of common shares on September 18–19, 2025. The filings show 4,000 shares sold on 09/18 at $14.33, and three separate sales of 2,000 shares each on 09/19 at $14.51, $14.88 and $15.24. The report shows 10,000 total shares sold, leaving the reporting person with 218,881 shares after the transactions. The filing notes the reported prices reflect Canadian dollar to US dollar conversions.

Positive

• Timely disclosure of insider transactions by a director as shown on the filed Form 4
• Detailed pricing for each sale and explicit CAD-to-USD conversion rates provided in the remarks

Negative

• Insider selling totaling 10,000 shares across 09/18–09/19/2025, reducing holdings to 218,881 shares
• No explanatory detail in the filing about the purpose of the sales or whether they were pursuant to a trading plan

Insights

Securities Analyst

TL;DR: Routine insider sales disclosed; modest reduction in holdings but no other material events disclosed.

The Form 4 documents four sale transactions by a company director totaling 10,000 common shares over two days, with proceeds reflected at prices between $14.33 and $15.24. The disclosure is routine and timely, includes currency conversion notes, and shows remaining beneficial ownership of 218,881 shares. There is no accompanying information about motives, planned sales, or derivative activity.

Corporate Governance Expert

TL;DR: Compliance appears in order; transactions were reported and signed but represent insider selling rather than an acquisition.

The report identifies the reporting person as a director and confirms the Form 4 was signed. Transaction codes indicate standard sales rather than transfers under plans. The filing contains explicit conversion rates for CAD-to-USD pricing. There are no disclosures of exemptions, purchase plans, or derivative holdings in this filing.

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^*

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)
09/18/2025

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	09/18/2025		S		4,000	D	$14.33	224,881	D
Common Shares	09/19/2025		S		2,000	D	$14.51	222,881	D
Common Shares	09/19/2025		S		2,000	D	$14.88	220,881	D
Common Shares	09/19/2025		S		2,000	D	$15.24	218,881	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 September 18, 2025 transaction reflects a Canadian dollar to US dollar conversion at a rate of 1:0.725. 2. Prices reported for September 19, 2025 transactions reflect Canadian dollar to US dollar conversions at a rate of 1:0.7257.

	Dennis L. Higgs	09/22/2025
	** 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).
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FAQ

What insider transactions did Energy Fuels (UUUU) disclose for Dennis L. Higgs?

The Form 4 reports four sales totaling 10,000 common shares: 4,000 on 09/18/2025 at $14.33 and 2,000 each on 09/19/2025 at $14.51, $14.88 and $15.24.

How many shares does the reporting person own after the reported transactions?

After these transactions, the reporting person beneficially owns 218,881 common shares.

Were the reported prices converted from another currency?

Yes. The filing states the 09/18 price used a CAD-to-USD conversion rate of 1:0.725 and the 09/19 prices used a rate of 1:0.7257.

Is there any derivative or option activity reported in this Form 4?

No. Table II for derivative securities contains no reported transactions or holdings in this filing.

What is the reporting person's relationship to Energy Fuels?

The filer, Dennis L. Higgs, is identified in the Form 4 as a Director of Energy Fuels Inc.