DyTb (TMRC) Director Donald Hulse Disposes 176,585 Shares in Merger

What Happened Donald Edward Hulse, a director, disposed of 176,585 shares of Texas Mineral Resources Corp. (TMRC) common stock on August 7, 2026. The disposition was not an open-market sale but occurred pursuant to the Merger Agreement: TMRC merged into subsidiaries of USA Rare Earth, Inc., and each TMRC share converted into 0.043279843 shares of USA Rare Earth common stock plus cash in lieu of fractional shares. Based on the conversion ratio, Hulse received approximately 7,642.6 (≈7,643) USA Rare Earth shares; no per-share price or cash amounts for fractional shares were disclosed on the Form 4.

Key Details

• Transaction date: 2026-08-07. Form 4 filed: 2026-08-14 (filed 7 days after the transaction; later than the typical 2-business-day Form 4 deadline).
• Transaction code: D (Disposition to issuer) — part of the merger consideration, not an open-market sale.
• Shares disposed: 176,585 TMRC common shares.
• Consideration: 0.043279843 USA Rare Earth shares per TMRC share (≈7,642.6 Parent shares) plus cash for fractional shares; no dollar value per share reported (N/A).
• Shares owned after transaction: not reported in the provided filing.
• Footnotes: Disposition occurred under the Agreement and Plan of Merger dated March 4, 2025; TMRC became a wholly owned subsidiary of USA Rare Earth and was renamed DyTb, LLC.

Context This was a merger conversion (corporate reorganization) rather than a voluntary sale on the open market. For retail investors, such dispositions reflect deal consideration (stock and cash) rather than a director selling for liquidity; the filing was late relative to normal Form 4 timing, which is a reporting compliance matter rather than a comment on the transaction economics.