Mawer Stephen P 4

What Happened

• Stephen P. Mawer, a director of Calumet, Inc. (CLMT), received two restricted stock unit (RSU) awards on May 28, 2026: 968 RSUs and 322 RSUs, for a total of 1,290 RSUs. The transactions are reported as awards (Form 4 code A) and are recorded at $0.00 (no cash purchase).
• These awards are derivative rights (each RSU equals the economic equivalent of one common share) and will convert to common stock upon settlement per the plan terms.

Key Details

• Transaction date: May 28, 2026; Form 4 filed June 1, 2026 (timely within required business days).
• Reported consideration: $0.00 per RSU (award/grant).
• Total RSUs granted: 1,290 (968 RSUs + 322 RSUs).
• Ownership after transaction: not specified in the provided excerpt of the filing.
• Vesting/settlement notes:
  • The 968-RSU award is 100% vested and will be settled upon the earlier of a specified date or the reporting person’s termination.
  • The 322-RSU award is under the Deferred Compensation Plan; settlement occurs upon the earlier of the specified date or termination, with 25% vesting on July 1 of each year beginning July 1, 2027 (i.e., a multi-year vesting schedule).
• Transaction type: Derivative award (RSUs). Filing shows code A (award/grant).

Context

• RSUs are a form of equity compensation that give the holder a right to receive shares (or cash equivalent) in the future; they are not an immediate cash purchase or sale of common stock.
• One award is already fully vested (immediate economic exposure), while the other is deferred with annual vesting beginning 2027—this distinction affects when Mawer can actually receive underlying shares.
• No sale or cash purchase was made, and the filing does not indicate a 10b5-1 plan, tax withholding, or late filing.