Lebeck James Barker 4

4 · SM Energy Co · Filed Jul 2, 2026

AI-generated summary of this filing

Updated Jul 3, 2026

SM Energy (SM) EVP James Lebeck Exercises RSUs, Buys ESPP Shares

What Happened

James Barker Lebeck, EVP, General Counsel & Corporate Secretary of SM Energy (SM), had multiple restricted stock units (RSUs) convert to common shares on July 1, 2026 and also purchased shares through the company ESPP. In total 22,257 shares were issued on conversion of RSUs; 9,740 of those shares were withheld/disposed to cover tax liabilities (receipts $254,214 at $26.10/share), leaving a net 12,517 shares issued to him. Separately, he purchased 622 shares on June 30, 2026 through the Employee Stock Purchase Plan at $15.90 per share for $9,890.
These transactions are not open-market “sales” by choice of the insider; the dispositions recorded (F code) reflect shares withheld to satisfy tax withholding on RSU vesting.

Key Details

Dates and prices: ESPP purchase on 2026-06-30 — 622 shares at $15.90 ($9,890). RSU conversions and tax withholding on 2026-07-01 — 22,257 shares converted; 9,740 shares withheld at $26.10 for taxes (proceeds $60,187 + $69,765 + $124,262 = $254,214).
Net new shares received from vesting: 22,257 converted − 9,740 withheld = 12,517 shares.
Footnotes: F1 confirms the 622 ESPP purchase. F2–F4 explain the converted securities were restricted stock units that vest in scheduled installments (vesting schedules began July 1, 2024 / 2025 / 2026); vested shares were issued when restrictions lapsed.
Filing timeliness: Form filed 2026-07-02 for transactions through 2026-07-01 — appears timely (Form 4 must generally be filed within two business days).
Shares owned after the transactions: not provided in the supplied excerpt.

Context

The RSU conversions were recorded as exercise/conversion of derivative awards (M code). The subsequent F-code dispositions are tax-withholding transactions (company withholding or sale of shares to cover taxes), not voluntary market sales — a common administrative step when awards vest.
The ESPP purchase is an actual buy (usually viewed more bullish than withholding transactions). These transactions are routine compensation and withholding matters and do not, by themselves, indicate broader insider sentiment.

Form 4

Period: 2026-07-01

EVP, GC & Corp Secretary

Transactions

Other
Common Stock, $.01 Par Value
[F1]
2026-06-30$15.90/sh+622$9,890→ 15,459 total
Exercise/Conversion
Common Stock, $.01 Par Value
[F2]
2026-07-01+5,269→ 20,728 total
Tax Payment
Common Stock, $.01 Par Value
2026-07-01$26.10/sh−2,306$60,187→ 18,422 total
Exercise/Conversion
Common Stock, $.01 Par Value
[F3]
2026-07-01+6,108→ 24,530 total
Tax Payment
Common Stock, $.01 Par Value
2026-07-01$26.10/sh−2,673$69,765→ 21,857 total
Exercise/Conversion
Common Stock, $.01 Par Value
[F4]
2026-07-01+10,880→ 32,737 total
Tax Payment
Common Stock, $.01 Par Value
2026-07-01$26.10/sh−4,761$124,262→ 27,976 total
Exercise/Conversion
Restricted Stock Units
[F2]
2026-07-01−5,269→ 0 total
→ Common Stock, $.01 Par Value (5,269 underlying)
Exercise/Conversion
Restricted Stock Units
[F3]
2026-07-01−6,108→ 6,108 total
→ Common Stock, $.01 Par Value (6,108 underlying)
Exercise/Conversion
Restricted Stock Units
[F4]
2026-07-01−10,880→ 21,762 total
→ Common Stock, $.01 Par Value (10,880 underlying)

Footnotes (4)

[F1]The Reporting Person purchased 622 shares of the Issuer's common stock on June 30, 2026, through the Issuer's Employee Stock Purchase Plan.
[F2]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 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, 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.
[F4]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