McEwen Inc. — Director's Dealing 2025

Nov 19, 2025

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: McEwen Inc. (MUX)
CIK: 0000314203
Period of Report: 2025-11-10

Reporting Person: Spears Stephan Michael (VP Corporate Development)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2025-11-10	Common Stock	M	558	—	Acquired	4372	Direct
2025-11-10	Common Stock	M	232	—	Acquired	4604	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2025-11-10	Restricted Stock Units	$	M	1200	Disposed		Common Stock (1200)	Direct
2025-11-10	Restricted Stock Units	$	M	500	Disposed		Common Stock (500)	Direct

Footnotes

F1: Each restricted stock unit represents a contingent right to receive one share of the Issuer's common stock, or the cash value thereof as set forth in the award agreement, in the discretion of the Issuer's Compensation, Nominating & Corporate Governance Committee.

F2: The restricted stock units were granted on August 11, 2025. Subsequent to the grant on August 11, 2025, the vesting schedule of the restricted stock units was amended to be identical to the vesting schedule of the 1,500 restricted stock units granted on September 8, 2025. Accordingly, the restricted stock units vested as to 1,200 shares on November 10, 2025, of which 642 shares settled for cash. The restricted stock units will vest as to the remaining shares in two equal installments on each of December 28, 2025 and June 28, 2026.

F3: The restricted stock units were granted on September 8, 2025 and vested as to 500 shares on November 10, 2025, of which 268 shares settled for cash. The restricted stock units will vest as to the remaining shares in two equal installments on each of December 28, 2025 and June 28, 2026.