Mawer Stephen P 4

What Happened
Stephen P. Mawer, a director of Calumet, Inc. (CLMT), had 13,780 restricted stock units (RSUs) converted into 13,780 shares of common stock on July 9, 2026. To satisfy tax withholding obligations, 5,512 of those shares were surrendered, leaving a net delivery of 8,268 shares to Mawer. The RSUs had fully vested on June 2, 2026. The reported per-share price for these entries is $0.00 because this was an RSU conversion/delivery rather than an open-market purchase or sale.

Key Details

• Transaction date: July 9, 2026; Form 4 filed July 13, 2026 (filed within the standard 2 business-day reporting window).
• Converted: 13,780 RSUs → 13,780 shares (transaction code M: exercise/conversion of derivative).
• Tax withholding: 5,512 shares surrendered to cover taxes (transaction code F; per footnote, surrendered under Rule 16b-3).
• Net shares delivered to insider: 8,268 shares retained.
• Price reported: $0.00 per share (reflects RSU conversion; not an open-market trade).
• Footnotes: F2 confirms each RSU equals one share; F3 notes 100% of RSUs vested on June 2, 2026.

Context
This was a routine delivery of vested RSUs rather than a market purchase or sale. The surrender of shares to cover tax withholding is common and should not be read as a separate liquidity-driven sale by the insider. For retail investors, purchases or open-market buys generally carry clearer signals than routine RSU vesting and withholding transactions.