Velarion · Company Intelligence
Compensation Brief
Fiscal year 2025 · Filings through 2026-06-10

UR-ENERGY (URG)

Fiscal year 2025 executive and director compensation, incentive-plan design, equity activity, and governance — every figure in this brief is traceable to its exact location in the company’s SEC filing — the document, the section, the page, and the table, linked directly.

$839,741
Matthew Gili total, FY2025
40th
CEO pay percentile vs peers
4:1
CEO-to-median pay ratio
97.63%
Say-on-pay support, latest vote
Companies that benchmark against URG
1 company names URG as a compensation peer

Each company listed discloses URG in its own benchmarking peer group, as disclosed in each company's most recent proxy statement within the last two proxy seasons. Two companies are therefore absent by design: one that named URG in an earlier year and no longer does, and one whose own most recent disclosure is older than the last two seasons.

01

Summary Compensation Table — fiscal year 2025

Named executive officerSalaryBonusStock awardsOption awardsNon-equity incentivePension / NQDCAll otherTotal
Matthew Gili$209,443$218,225$89,729$287,546$34,798$839,741
President and CEO
Steven Hatten399,733260,10555,941111,0174,872831,668
Chief Operating Officer
Roger Smith394,542256,72155,215109,57111,420827,469
Chief Financial Officer

A dash means the company reported no figure in that column; 0 means it reported zero. Figures are as printed in the filing, without adjustment.

Three-year trend — total compensation per named executive

Named executive officerFY2025 totalFY2024 totalFY2023 totalΔ FY20242025
Matthew Gili$839,741
Steven Hatten831,668718,203+113,465
Roger Smith827,469739,100+88,369

Prior-year totals as disclosed in the corresponding proxy; deltas are computed values with the derivation shown in the register.

02

Equity transactions since the proxy statement was filed

No insider equity transactions reported since the proxy statement.

04

Outstanding equity awards at fiscal year-end 2025

ExecutiveAwardShares unvestedExercise priceMarket value unvested
Matthew GiliRSU61,069$83,766
Steven HattenRSU38,07352,223
Roger SmithRSU37,57951,546
Steven HattenRSU36,25949,735
Roger SmithRSU35,78849,089
Matthew GiliOption175,0001.72
Matthew GiliOption244,2752.02
Steven HattenOption39,4211.55
Steven HattenOption36,9932.06
Steven HattenOption96,6901.77
Steven HattenOption152,2952.02
Roger SmithOption38,9101.55
Roger SmithOption36,5122.06
Roger SmithOption95,4321.77
Roger SmithOption150,3122.02
05

Incentive-plan design — the Compensation Discussion & Analysis

The Company's compensation program is designed to attract and retain quality employees by providing reasonable perquisites and combining fixed and variable compensation. The program aims to align the interests of Named Executive Officers with shareholders through equity compensation and mandates equity ownership requirements to avoid encouraging inappropriate risk-taking.

CEO STI target (% of salary)
CEO LTI target (% of salary)
Independent consultantZayla
Clawback policytrue
Anti-hedgingtrue
Anti-pledgingtrue
06

Say-on-pay — recent advisory votes

Meeting yearMeeting dateForAgainstAbstainSupportOutcome
20262026-06-04204,012,6824,952,139097.63%Passed
20252025-06-05197,702,6299,777,240095.29%Passed
20242024-06-06117,422,5924,676,565096.17%Passed
20232023-06-0289,783,98529,312,243075.39%Passed
20222022-06-0257,999,48615,348,454079.07%Passed
20212021-06-0336,623,3438,904,433080.44%Passed

Rows are labeled by annual-meeting year, with the meeting date beside each; the vote held in a given year acts on the prior fiscal year's compensation.

Say-on-pay — history, company's computation

Meeting yearMeeting dateApproval — company's computation
20262026-06-0497.63%a
20252025-06-0595.29%b
20242024-06-0696.17%c

a. Voting standard not stated in the filing.

b. Voting standard not stated in the filing.

c. Voting standard not stated in the filing.

Approval percentages are the company's own reported computations under its own stated standard, not recomputed by Velarion. Where a company does not state a standard, none is assumed.

07

CEO pay ratio

Ratio (CEO : median employee)4 : 1
CEO total compensation
Median employee compensation
08

Director compensation — fiscal year 2025

DirectorCash feesStock awardsOption awardsNon-equity incentiveAll otherTotal
Rob ChangIndependent · Treasury and Investment (1) (Chair)$75,000$33,650$66,774$0$0$175,424
Thomas H. ParkerIndependent · Lead Independent Director · Audit · Compensation75,00033,65066,77400175,424
Kathy E. WalkerIndependent · Compensation (Chair)75,00033,65066,77400175,424
Gary C. HuberIndependent · Corporate Governance Nominating (Chair)75,00033,65066,77400175,424
Elmer W. DykeIndependent · Health, Safety and Environment Technical (Chair)75,00033,65066,77400175,424
John Paul PresseyIndependent · Audit (Chair)75,00033,65066,77400175,424
John W. CashEmployee director · Board Chair6,25000006,250
Matthew D. GiliEmployee director · Newly elected0
09

Board fee structure and ownership guideline

Annual cash retainer$75,000
Annual equity retainer
Per board meeting fee$0
Committee chair fees (audit / comp / nom-gov)
Stock ownership guideline$3
09b

Total cost of the board

ComponentFY2025
Cash retainers and fees$456,250
Equity awards (grant-date value)$201,900
All other compensation$0
Total cost of the board$658,150

Computed as the sum of the director compensation table rows above; inputs and formula shown in the register.

10

Disclosed peer group — fiscal year 2025

The compensation peer group as the company disclosed it in its own proxy — the reference set behind the percentile above.

10a

Peer reciprocity

Of the companies UR-ENERGY names as compensation peers, which name it back in their own disclosed peer groups. A peer set the market reciprocates reads differently from one selected in a single direction.

Reciprocity shown where the peer's own current proxy has been read — each mark is cited in the register to that peer's filing. A dash means the peer's current proxy was read and names no reciprocal group including UR-ENERGY.

10b

Chief executive pay against the peer group

Most recent fiscal-year chief executive compensation at each disclosed peer, taken from that company's own proxy statement.

RankCompanyFYChief executiveSalaryStock awardsOption awardsNon-equity incentiveTotal
1Uranium Energy Corp.2025Amir Adnani$660,000$3,998,055$0$1,452,000$6,356,248
2Energy Fuels Inc.2025Andrew Littlefair787,062947,8680867,9732,698,546
3Evolution Petroleum Corp.2025Kelly Loyd375,000534,672356,2501,315,704
4UR-ENERGY2025Matthew Gili209,44389,729287,546839,741
5Gold Resource Corporation2024Allen Palmiere495,000302,23900817,354
6NioCorp Developments Ltd.2025Mark Smith325,000126,000451,000
enCore Energy Corp.not in coverage universe

Each peer's compensation is from its most recently filed proxy; fiscal years differ by company. Each peer's figures come from its own filings; the subject company is highlighted. Peers whose chief executive compensation is outside our coverage universe are stated as such, never left blank.

10c

Incentive design against the same peers

CompanyAnnual incentive payoutLong-term vehicle mixPSU measures include TSRCompensation consultant
UR-ENERGYnot disclosednot disclosednot disclosedZayla
enCore Energy Corp.not disclosednot disclosednot disclosednot disclosed
Energy Fuels Inc.111%RSU 50 · PSU 50NoSemler Brossy
Evolution Petroleum Corp.not disclosednot disclosednot disclosednot disclosed
Gold Resource Corporationnot disclosednot disclosednot disclosednot disclosed
NioCorp Developments Ltd.not disclosedOption 100not disclosednot disclosed
Uranium Energy Corp.not disclosednot disclosednot disclosednot disclosed

Read from each company's Compensation Discussion and Analysis: annual incentive payout as a percentage of target, the disclosed long-term vehicle mix, whether performance-share measures include a total shareholder return component, and the retained compensation consultant. “Not disclosed” appears only where the company's filing does not state the item.

11

Source register

Each figure's location is given both for the eye (section · page · table · row · column) and for a script (table/row/column index and exact character span in the filed document). Any figure can be independently confirmed against the source.

#SupportsDocumentFiledAccessionLocation in document
1Section 01, Matthew GiliDEF 14A2026-04-240001104659-26-048693Section “Executive Compensation”. As printed: 839,741. Filing ↗
2Section 01, Steven HattenDEF 14A2026-04-240001104659-26-048693Section “Executive Compensation”. As printed: 831,668. Filing ↗
3Section 01, Roger SmithDEF 14A2026-04-240001104659-26-048693Section “Executive Compensation”. As printed: 827,469. Filing ↗
4Section 07, pay ratioDEF 14A2026-04-240001104659-26-048693Section “CEO Pay Ratio”. As printed: 4 : 1. Filing ↗
5Section 08, Rob ChangDEF 14A2026-04-240001104659-26-048693Section “Director Compensation”. As printed: 175,424. Filing ↗machine: span 862783–862790
6Section 08, Thomas H. ParkerDEF 14A2026-04-240001104659-26-048693Section “Director Compensation”. As printed: 175,424. Filing ↗machine: span 874086–874093
7Section 08, Kathy E. WalkerDEF 14A2026-04-240001104659-26-048693Section “Director Compensation”. As printed: 175,424. Filing ↗machine: span 881626–881633
8Section 08, Gary C. HuberDEF 14A2026-04-240001104659-26-048693Section “Director Compensation”. As printed: 175,424. Filing ↗machine: span 870317–870324
9Section 08, Elmer W. DykeDEF 14A2026-04-240001104659-26-048693Section “Director Compensation”. As printed: 175,424. Filing ↗machine: span 866836–866843
10Section 08, John Paul PresseyDEF 14A2026-04-240001104659-26-048693Section “Director Compensation”. As printed: 175,424. Filing ↗machine: span 877858–877865
11Section 08, John W. CashDEF 14A2026-04-240001104659-26-048693Section “Director Compensation”. As printed: 6,250. Filing ↗machine: span 859308–859313
12Section 08, Matthew D. GiliDEF 14A2026-04-240001104659-26-048693Section “Director Compensation”. As printed: 0. Filing ↗
13Section 06, 2026 voteForm 8-K2026-06-050001104659-26-070883Item 5.07 · say-on-pay result. As reported: 97.63% (votes for as printed: 204,012,682). Filing ↗
14Section 06, 2025 voteForm 8-K2025-06-060001558370-25-008489Item 5.07 · say-on-pay result. As reported: 95.29% (votes for as printed: 197,702,629). Filing ↗
15Section 06, 2024 voteForm 8-K2024-06-070001654954-24-007529Item 5.07 · say-on-pay result. As reported: 96.17% (votes for as printed: 117,422,592). Filing ↗
16Section 01 trend, Δ column (computed)ComputedcomputedΔ = current-FY total − prior-FY total per named officer.machine: formula: Δ = FY(n) − FY(n−1)
17Section 09b board cost (computed)ComputedcomputedCash 456,250 + equity 201,900 + all other 0 = 658,150, summed across the director compensation table rows.machine: formula: Σ = 658,150
18Uranium Energy Corp., Section 10b CEO totalDEF 14A2026-06-100001437749-26-020059CEO total compensation as printed in Uranium Energy Corp.'s own proxy. As printed: 6,356,248. Filing ↗machine: r1 · c31 · span 586648–586657
19Energy Fuels Inc., Section 10b CEO totalDEF 14A2026-04-300001104659-26-052378CEO total compensation as printed in Energy Fuels Inc.'s own proxy. As printed: 2,698,546. Filing ↗machine: t150 · r6 · c14 · span 789888–789897
20Evolution Petroleum Corp., Section 10b CEO totalDEF 14A2025-10-230001104659-25-101832CEO total compensation as printed in Evolution Petroleum Corp.'s own proxy. As printed: 1,315,704. Filing ↗
21UR-ENERGY (subject), Section 10b CEO totalDEF 14A2026-04-240001104659-26-048693CEO total compensation as printed in UR-ENERGY's own proxy. As printed: 839,741. Filing ↗
22Gold Resource Corporation, Section 10b CEO totalDEF 14A2025-04-250001558370-25-005528CEO total compensation as printed in Gold Resource Corporation's own proxy. As printed: 817,354. Filing ↗
23NioCorp Developments Ltd., Section 10b CEO totalDEF 14A2026-02-250001539497-26-000784CEO total compensation as printed in NioCorp Developments Ltd.'s own proxy. As printed: 451,000. Filing ↗
24Section 10a, NioCorp Developments Ltd. reciprocityDEF 14A0001539497-26-000784NioCorp Developments Ltd.'s most recent proxy was read; its disclosed peer group does not include UR-ENERGY. Filing ↗
25Section 10a, Evolution Petroleum Corp. reciprocityDEF 14A0001104659-25-101832Evolution Petroleum Corp.'s most recent proxy was read; its disclosed peer group does not include UR-ENERGY. Filing ↗
26Section 10a, Energy Fuels Inc. reciprocityDEF 14A0001104659-26-052378Energy Fuels Inc.'s most recent proxy was read; its disclosed peer group does not include UR-ENERGY. Filing ↗