Ownership Submission
FORM 4
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
OBARA PAT
   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
(Last)
(First)
(Middle)
2791 WEST 35TH AVENUE		 3. Date of Earliest Transaction (Month/Day/Year)
12/18/2014
(Street)

VANCOUVER, A1 V6E 2J3		 4. If Amendment, Date 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
(City)
(State)
(Zip)
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)
Code V Amount (A) or (D) Price
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  

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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 Underlying Securities
(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 of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)		 11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
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  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
OBARA PAT
2791 WEST 35TH AVENUE
VANCOUVER, A1 V6E 2J3		       VP Administration  

Signatures

 /s/ Pat Obara   12/22/2014
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(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).

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