Bennett Alan D 4

4 · SM Energy Co · Filed Jul 2, 2026

AI-generated summary of this filing

Updated Jul 3, 2026

SM Energy (SM) VP Alan Bennett Exercises RSUs, Nets 2,035 Shares

What Happened

Alan D. Bennett, Vice President — Controller of SM Energy (SM), had restricted stock units (RSUs) convert into 3,497 shares on July 1, 2026 (reported in a Form 4 filed 2026-07-02). To satisfy tax withholding/tax liability, 1,462 shares were surrendered (disposed) at an effective withholding value of $26.10 per share, totaling $38,158. After withholding, Bennett received a net 2,035 shares.
This was not an open-market purchase or sale but the issuance of vested equity (routine RSU vesting and share-withholding for taxes).

Key Details

Transaction date: July 1, 2026; Form 4 filed: July 2, 2026 (timely).
Derivative/conversion (code M): 3,497 shares converted into common stock (three separate conversions: 948, 630, 1,919).
Tax withholding/payment (code F): 1,462 shares withheld (396, 264, 802) at $26.10/share = $38,158.
Net shares delivered to insider: 2,035 shares.
Shares owned after transaction: not disclosed in the filing.
Relevant footnotes: F1–F3 describe RSU grants that vest in three equal annual installments (grants dated with vesting start years 2024, 2025, 2026); vested RSUs converted to shares and restrictions lapsed when issued.
Transaction codes: M = exercise/conversion of derivative; F = payment of exercise price or tax liability (share withholding).

Context

This is a routine vesting and share-withholding event (a cashless-like settlement for tax purposes), not an open-market sale or purchase. Such transactions typically reflect scheduled vesting under company grants rather than a trading decision by the insider.
For retail investors, purchases by insiders are often more informative than routine vested-issue events; this filing mainly documents compensation vesting and tax withholding.

Form 4

Period: 2026-07-01

Vice President - Controller

Transactions

Exercise/Conversion
Common Stock, $.01 Par Value
[F1]
2026-07-01+948→ 2,599 total
Tax Payment
Common Stock, $.01 Par Value
2026-07-01$26.10/sh−396$10,336→ 2,203 total
Exercise/Conversion
Common Stock, $.01 Par Value
[F2]
2026-07-01+630→ 2,833 total
Tax Payment
Common Stock, $.01 Par Value
2026-07-01$26.10/sh−264$6,890→ 2,569 total
Exercise/Conversion
Common Stock, $.01 Par Value
[F3]
2026-07-01+1,919→ 4,488 total
Tax Payment
Common Stock, $.01 Par Value
2026-07-01$26.10/sh−802$20,932→ 3,686 total
Exercise/Conversion
Restricted Stock Units
[F1]
2026-07-01−948→ 0 total
→ Common Stock, $.01 Par Value (948 underlying)
Exercise/Conversion
Restricted Stock Units
[F2]
2026-07-01−630→ 631 total
→ Common Stock, $.01 Par Value (630 underlying)
Exercise/Conversion
Restricted Stock Units
[F3]
2026-07-01−1,919→ 3,841 total
→ Common Stock, $.01 Par Value (1,919 underlying)

Footnotes (3)

[F1]Each restricted stock unit represents a contingent right to receive one share of stock. The restricted stock unit grant vested in three equal annual installments beginning on July 1, 2024. The vested shares were issued to the Reporting Person on the vesting dates, at which time all restrictions on the vested shares lapsed.
[F2]Each restricted stock unit represents a contingent right to receive one share of stock. The restricted stock unit grant vests in three equal annual installments beginning on July 1, 2025. The vested shares will be issued to the Reporting Person on the vesting dates, at which time all restrictions on the vested shares will lapse.
[F3]Each restricted stock unit represents a contingent right to receive one share of stock. The restricted stock unit grant vests in three equal annual installments beginning on July 1, 2026. The vested shares will be issued to the Reporting Person on the vesting dates, at which time all restrictions on the vested shares will lapse.

Signature

Andrew T. Fiske (Attorney-in-Fact)|2026-07-02

1 file