8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

Current Report

Pursuant to Section 13 or 15(d) of

the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): July 9, 2021

Registrant’s telephone number, including area code: (720) 981-4588

Securities registered pursuant to Section 12(b) of the Act:

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers.

The Board of Directors (the “Board”) of Ur-Energy Inc. (the “Company”) previously approved a reduced award of short-term incentive bonuses for 2020 (the “2020 STIPs”) for the named executive officers of the Company: Mr. Jeffrey T. Klenda, Chief Executive Officer; Mr. Roger L. Smith, Chief Financial Officer; and Ms. Penne A. Goplerud, Corporate Secretary (together, the “Named Executive Officers”). The earlier award, though premised on the assessment that the Company and the Named Executives had fully met performance standards in 2020, was reduced by 50% due to the uncertainty caused by the COVID-19 pandemic, with leave for the Board in the future to consider further payout of the 2020 STIPs.

On July 9, 2021, the Board of the Company, in light of the current status of the pandemic and broader economic conditions, and upon the recommendation of the Compensation Committee of the Board, approved an award of the balance of the 2020 STIPs to the Named Executive Officers. The total compensation for the Named Executive Officers for 2020, as updated, is set forth here:

All values are in US Dollars.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.