SM Energy EVP & GC James Lebeck Sells 17,500 Shares

What Happened
James Barker Lebeck, Executive Vice President, General Counsel & Corporate Secretary of SM Energy Co (SM), reported an open-market sale of 17,500 common shares on 2026-08-21 at a reported price of $37.02 per share, resulting in proceeds of approximately $647,850. The Form 4 lists the transaction as a sale (code S).

Key Details

• Transaction date: 2026-08-21 (reported on Form 4 filed 2026-08-24) — filing was timely (within SEC two-business-day window).
• Transaction type/code: Open-market sale (S).
• Price and proceeds: $37.02 per share; total ≈ $647,850.
• Shares owned after transaction: Not disclosed in the provided filing excerpt.
• Footnote (F1): Indicates the shares had been purchased in multiple earlier transactions at prices ranging from $36.85 to $37.15; the reporting person will provide a price-by-price breakdown upon request to the issuer, shareholders, or SEC staff.
• No 10b5-1 plan, option exercise, gift, or tax-withholding information is indicated in the supplied details.

Context
This is a straight sale of existing shares. Sales by executives can be routine (cash needs, diversification, plan-driven) and do not alone indicate company performance expectations. Purchases (buys) are generally viewed as a stronger signal of insider bullishness. If you need the exact post-transaction holdings or the purchase breakdown in footnote F1, the reporting person can supply that detail on request per the footnote.