Raymond Paul C 4

What Happened
Raymond Paul C, a director of Calumet, Inc. (CLMT), was granted two restricted stock unit (RSU) awards on May 28, 2026 totaling 938 RSUs (704 RSUs + 234 RSUs). Both awards were reported as derivative acquisitions at an acquisition price of $0.00 (i.e., awards rather than open‑market purchases). One tranche is described as 100% vested; the other is subject to deferred settlement and a multi‑year vesting schedule.

Key Details

• Transaction date: 2026-05-28; Form 4 filed: 2026-06-01. (Filed four days after the transaction; Form 4s are typically due within two business days.)
• Awards: 704 RSUs and 234 RSUs, total 938 RSUs; acquisition price reported $0.00 (derivative awards).
• Footnotes: F1 — each RSU equals one share of Calumet common stock; F2 — the RSUs covered by this note are 100% vested and will be settled on the earlier of a specified date or the reporting person's termination; F3 — the deferred RSUs will settle under the Deferred Compensation Plan with 25% vesting on July 1 of each year beginning July 1, 2027.
• Shares owned after transaction: not specified in the provided filing excerpt.
• No cash purchase or sale occurred; this is an award/grant.

Context
RSUs are compensation awards that represent the right to receive shares (or cash equal to share value) in the future. A fully vested RSU award can usually be settled soon, while the deferred RSUs here vest 25% annually starting July 1, 2027. These awards are routine director compensation and do not reflect an open‑market buy or sale.