PERU RAMIRO G 4

What Happened
Ramiro G. Peru, a director of SM Energy Co. (SM), sold 24,553 shares on May 21, 2026 at $33.98 per share, generating proceeds of approximately $834,311. This was a sale (transaction code S), reported on Form 4 the next day.

Key Details

• Transaction date: 2026-05-21; Report filed: 2026-05-22 (timely filing).
• Price: $33.98 per share; Shares sold: 24,553; Gross proceeds: ~$834,311.
• Transaction type: Open-market or private sale (reported as S).
• Shares owned after transaction: not disclosed on the supplied summary.
• No footnotes provided indicating a 10b5-1 plan, gift, or tax-withholding in the supplied data.

Context
Insider sales are often routine (e.g., portfolio rebalancing, diversification, or liquidity needs) and don’t necessarily signal a change in a director’s view of the company. Retail investors typically view purchases as a stronger signal than isolated sales.