Lebeck James Barker 4

4 · SM Energy Co · Filed Jul 24, 2026

AI-generated summary of this filing

Updated Jul 24, 2026

SM Energy (SM) EVP James Lebeck Receives Award, Exercises Derivative

What Happened

James Barker Lebeck, EVP, General Counsel & Corporate Secretary of SM Energy (SM), had performance share units (PSUs) convert to 7,520 shares and was issued those shares in late July 2026. To satisfy tax withholding on that issuance, 3,291 shares were surrendered/disposed at $26.10 per share for a withholding value of $85,895. Separately, Lebeck was granted 42,752 restricted stock units (RSUs) as a derivative award (no cash paid).

Key Details

Transaction dates: PSU shares issued on July 23, 2026 (reported on Form 4 dated July 24, 2026); Form 4 filed July 24, 2026.
Prices/values: tax withholding disposal 3,291 shares at $26.10 each = $85,895; granted RSUs shown at $0.00 (typical for awards); PSU conversion reported as exercise/conversion (no per-share price listed).
Shares owned after transaction: not specified in the Form 4 filing.
Footnotes: PSUs were granted July 1, 2023, represented 0–200% payout based on performance and time, and fully vested on July 1, 2026 (footnote F1). Each RSU is a contingent right to one share and vests in three equal annual installments beginning July 1, 2027 (footnote F2).
Filing timeliness: filing dated July 24, 2026 — appears to be timely (no late filing indicated).
Transaction codes: M = exercise/conversion of derivative (PSU conversion to shares); F = tax withholding (disposal of shares to satisfy tax liability); A = grant/award (RSU grant).

Context

The 7,520 shares resulted from vested performance-based awards (PSUs) and were issued rather than bought on the open market. The 3,291-share disposal was for tax withholding, a routine administrative step that does not necessarily indicate a decision to sell for investment reasons. The 42,752 RSUs are restricted and will vest over future years (starting July 1, 2027), so they are not immediately tradable.

Form 4

Period: 2026-07-24

EVP, GC & Corp Secretary

Transactions

Exercise/Conversion
Common Stock, $.01 Par Value
[F1]
2026-07-24+7,520→ 35,496 total
Tax Payment
Common Stock, $.01 Par Value
2026-07-24$26.10/sh−3,291$85,895→ 32,205 total
Award
Restricted Stock Units
[F2]
2026-07-24+42,752→ 42,752 total
→ Common Stock, $.01 Par Value (42,752 underlying)

Footnotes (2)

[F1]On July 23, 2026, 7,520 shares of the Issuer's common stock were issued to the Reporting Person under the terms of a performance share unit ("PSU") award, based on the determination by the Compensation Committee of the Board of Directors of the Issuer regarding achievement of time-based vesting provisions and specific performance criteria that were not tied solely to the market price of the Issuer's common stock. The PSUs were granted to the Reporting Person on July 1, 2023, and represented the contingent right to receive between 0% to 200% of that number of shares of the Issuer's common stock based on the achievement of the vesting and performance criteria over a three-year performance period. The PSUs were fully vested on July 1, 2026.
[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, 2027. 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)|2026-07-24

1 file