Raymond Paul C 4

What Happened
Raymond Paul C, a director of Calumet, Inc. (CLMT), had 7,067 restricted stock units (RSUs) converted into common shares on July 9, 2026. The conversion was reported with a $0.00 exercise price (typical for RSU settlement). To satisfy tax withholding obligations, he elected to surrender 2,827 of the newly issued shares, leaving a net of 4,240 shares delivered to him. This was a vesting/settlement event rather than an open-market buy or sell.

Key Details

• Transaction date: July 9, 2026; Form 4 filed July 13, 2026 (filed within required two business days).
• Conversion/exercise: 7,067 RSUs converted into 7,067 shares at $0.00 per share (derivative exercise code M).
• Tax withholding: 2,827 shares surrendered to Calumet to cover tax obligations (code F; footnote F1).
• Net shares received: 4,240 shares.
• Derivative disposition: 7,067 RSU derivative units were reported disposed/converted (code M).
• Shares owned after the transaction: Not specified in the filing.
• Footnotes: F1 — surrendered shares for tax withholding; F2 — each RSU equals one common share; F3 — 100% of the RSUs vested on June 2, 2026.

Context
This was a routine RSU vesting and net-share settlement to cover taxes (common practice). It does not reflect an open-market purchase (which might be considered a more direct bullish signal) nor a cash sale. Derivative entries reflect conversion of RSUs into shares rather than a separate sale of common stock.