[Form 4] Energy Fuels Inc. Insider Trading Activity

Rhea-AI Filing Summary

Dennis L. Higgs, a director of Energy Fuels Inc. (UUUU), reported open-market sales totaling 22,500 common shares on August 28-29, 2025. The transactions comprised sales of 10,000 shares at $11.64, 5,000 at $11.82, 5,000 at $12.07, and 2,500 at $12.20 (USD equivalents from CAD conversions). After these dispositions, Higgs beneficially owned 253,881 common shares. The filing notes the CAD-to-USD exchange rates used for conversion.

Positive

• Timely disclosure of insider transactions by Director Dennis L. Higgs, with the Form 4 signed and dated
• Clear reporting of conversion methodology from CAD to USD for the reported prices

Negative

• Insider dispositions totaling 22,500 shares on August 28-29, 2025, which reduced beneficial ownership to 253,881 shares
• Sales executed at prices from $11.64 to $12.20 (USD equivalents), representing realized insider selling over two days

Insights

Corporate Governance Expert

TL;DR: Director sold a modest stake; disclosure was made as required, indicating routine insider selling rather than a governance red flag.

The Form 4 shows a director-level insider executed multiple open-market sales totaling 22,500 shares over two days, reducing his beneficial holdings to 253,881 shares. The filing is properly signed and discloses the CAD-to-USD exchange rates used for reported prices. From a governance perspective, the material fact is transparency and timeliness of disclosure. The transactions appear to be individual sales rather than a single large block sale; no derivative or plan-based sales are disclosed.

Securities Analyst

TL;DR: Insider sales of 22,500 shares at ~$11.64–$12.20 reduce insider ownership but are not, by themselves, materially transformative.

The reported sale prices (USD-converted) range from $11.64 to $12.20. Aggregate disposals equal 22,500 shares; post-sale beneficial ownership is 253,881 shares. There is no Table II activity reported and no indication of options exercised or issued. For investors, the key datapoints are the sale volumes, unit prices, and remaining ownership disclosed in the 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

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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)
08/28/2025

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	08/28/2025		S		10,000	D	$11.64	266,381	D
Common Shares	08/28/2025		S		5,000	D	$11.82	261,381	D
Common Shares	08/28/2025		S		5,000	D	$12.07	256,381	D
Common Shares	08/29/2025		S		2,500	D	$12.2	253,881	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:

The prices reflected in Table I represent conversions from Canadian Dollars to U.S. Dollars, using the exchange rate of 1 CAD: 0.727355 USD on August 28, 2025 and the exchange rate of 1 CAD: 0.728115 on August 29, 2025.

	Dennis L. Higgs	09/02/2025
	** 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) report on this Form 4?

Director Dennis L. Higgs reported open-market sales of 22,500 common shares on August 28–29, 2025.

How many shares does Dennis L. Higgs own after these transactions?

After the reported sales, Higgs beneficially owned 253,881 common shares.

At what prices were the shares sold in the Form 4 for UUUU?

The reported USD-converted sale prices were $11.64, $11.82, $12.07, and $12.20 for the respective transactions.

Were any derivative securities (options, warrants) reported on this Form 4?

No. Table II (derivative securities) contains no reported transactions or holdings.

Did the filing explain how USD prices were determined?

Yes. The filing states USD prices were calculated using CAD-to-USD exchange rates of 0.727355 (Aug 28) and 0.728115 (Aug 29), as noted in the remarks.