UR-ENERGY (URG) Director John Cash Exercises Options, Sells Shares

What Happened
John Cash, a director of UR-ENERGY Inc. (URG), exercised 77,751 stock options on 2026-08-24 and immediately sold the resulting shares in the open market. The options were exercised at an equivalent U.S. price of $1.0403 per share (total exercise cost $80,884), and the shares were sold at an equivalent U.S. price of $1.4103 per share for gross proceeds of $109,652. The Form 4 shows the exercise (transaction code M) and the sale (transaction code S); a derivative conversion line shows the option-to-share conversion reported at $0.00.

Key Details

• Transaction date: 2026-08-24 (filed 2026-08-25; filing appears timely).
• Exercise: 77,751 options exercised at C$1.44 per share = US$1.0403/share; total = $80,884 (footnote F1).
• Sale: 77,751 shares sold at C$1.9523 per share = US$1.4103/share; gross proceeds = $109,652 (footnote F2).
• Exchange rate used: C$1.00 = US$0.7224 (per footnotes).
• Vesting: The 77,751 options were granted 8/27/2021 and vested in three equal installments on 8/27/2022, 8/27/2023 and 8/27/2024 (footnote F3).
• Shares owned after the transaction: not specified in the provided filing excerpt.
• Transaction types: M = option exercise/conversion, S = open-market sale.

Context
Because the shares were exercised and then sold on the same date, this is effectively a cashless exercise — the director converted vested options to shares and sold them in the market rather than holding the stock. Such routine option exercises followed by immediate sales are common for covering exercise costs/taxes and do not by themselves indicate a change in insider view of the company.