Ur‑Energy (URG) Director Robby Chang Exercises Options, Sells Shares

What Happened
Robby Sai Kit Chang, a director of Ur‑Energy Inc. (URG), exercised 87,858 stock options and acquired the resulting common shares on 2026-08-24, recording an acquisition value of US$91,399 (C$1.44 per share, US$1.0403 equivalent). On the same day he sold 75,588 of those shares in an open-market transaction for US$106,503 (C$1.9504 per share, US$1.4090 equivalent). The Form 4 lists a derivative disposition entry (code M) of 87,858 options as part of the exercise.

Key Details

• Transaction date: August 24, 2026; Form 4 filed August 25, 2026 (filed next day, not shown as late).
• Option exercise: 87,858 options exercised; exercise price C$1.44 (US$1.0403/share) → total US$91,399.
• Sale: 75,588 shares sold at C$1.9504 (US$1.4090/share) → total US$106,503.
• The Form reports the exercised options were originally granted 8/27/2021 and vested in three equal tranches on 8/27/2022, 8/27/2023 and 8/27/2024.
• Shares owned after the transactions were not provided in the supplied Form 4 excerpt.
• The filing includes currency conversion footnotes showing Canadian-dollar prices converted to U.S. dollars (C$1.00 = US$0.7224 on the transaction date).

Context

• This appears to be an option exercise with most of the acquired shares sold the same day; when exercised shares are sold immediately it commonly reflects a sell-to-cover or partial cashless exercise, though the filing itself does not state the insider’s motivation.
• For retail investors: purchases (buys) can be interpreted as a stronger signal of insider conviction than routine option exercises followed by sales. This filing documents both an exercise (acquisition) and a substantial same-day sale.