SEC FORM 4

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

1. Name and Address of Reporting Person^*

OBARA PAT

(Last)

(First)

(Middle)

2791 WEST 35TH AVENUE

(Street)

VANCOUVER

V6E 2J3

(City)

(State)

(Zip)

2. Issuer Name and Ticker or Trading Symbol
URANIUM ENERGY CORP [ UEC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

	Director	10% Owner
X	Officer (give title below)	Other (specify below)
	VP Administration

3. Date of Earliest Transaction (Month/Day/Year)
12/18/2014

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	12/18/2014		M		25,000	A	$0.45⁽¹⁾	28,500	D
Common Stock	12/18/2014		F		6,321	D	$1.78⁽¹⁾	22,179	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Options to Purchase	$0.45	12/18/2014		M			25,000	01/02/2007	01/02/2017	Common Stock	25,000	$0⁽²⁾	1,055,000⁽³⁾	D

Explanation of Responses:

1. The Reporting Person exercised options previously granted to him under the Company's stock incentive plan, electing to pay the exercise price pursuant to the deemed net-stock exercise provision of such plan. As such, the Issuer withheld from the shares issuable to the Reporting Person that number of shares having a fair market value equal to the aggregate exercise price (that being 6,321 shares at a fair market value of $1.78 per share), such that the Reporting Person was issued a total of 18,679 shares.

2. Granted pursuant to and in accordance with the Company's stock incentive plan.

3. Subsequent to such exercise, the Reporting Person holds options to purchase: 180,000 shares at an exercise price of $0.45 per share expiring on October 10, 2016, 125,000 shares at an exercise price of $0.45 per share expiring on April 7, 2018, 150,000 shares at an exercise price of $2.40 per share expiring on August 26, 2019, 150,000 shares at an exercise price of $2.43 per share, expiring on August 13, 2020, 50,000 shares at an exercise price of $2.78 per share, expiring on September 26, 2021 and 400,000 shares at an exercise price of $.132 per share, expiring on September 3, 2019 (these options to purchase 400,000 shares vest over an 18-month period from grant, such that 25% vested on December 3, 2014, 25% will vest March 3, 2015, 25% will vest September 3, 2015 and the final 25% will vest March 2, 2016).

	/s/ Pat Obara	12/22/2014
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
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