Fleming Bruce A 4

4 · Calumet, Inc. /DE · Filed Mar 11, 2026

AI-generated summary of this filing

Updated Mar 11, 2026

Calumet (CLMT) EVP Bruce Fleming Exercises RSUs

What Happened

Bruce A. Fleming, Executive Vice President — Montana Renewables at Calumet, converted 20,621 restricted stock units (RSUs) into common shares on March 9, 2026. The filing reports an exercise/conversion at $0.00 (RSUs settle into shares rather than requiring cash).
To satisfy tax withholding, Fleming surrendered 8,156 of the issued shares (share-withholding), leaving a net increase of 12,465 shares retained by him. The Form 4 lists no cash paid or received for these entries.

Key Details

Transaction date: 2026-03-09; Form filed: 2026-03-11 (timely).
Reported entries: Exercise/conversion of derivative (code M) — 20,621 shares acquired; tax withholding surrender (code F) — 8,156 shares disposed.
Price reported: $0.00 per share for the conversion (typical for RSU settlement); no dollar value reported on the Form 4.
Shares owned after the transaction: not specified in the filing.
Footnotes: F1 explains 8,156 shares were surrendered to satisfy tax withholding; F2 clarifies each RSU equals one share; F3 notes 100% of the RSUs vested on Feb 21, 2026.

Context

This was a standard RSU vesting and settlement event (not an open-market purchase or sale). The surrender of shares to cover taxes is a routine cashless withholding method and does not necessarily signal a change in insider sentiment.
For clarity: the RSUs converted to shares (derivative exercise/conversion), a portion was withheld for taxes, and Fleming retained the remainder (net +12,465 shares).

Form 4

Period: 2026-03-09

EVP - MONTANA RENEWABLES

Transactions

Exercise/Conversion
Common Stock, par value $0.01 per share
2026-03-09+20,621→ 558,119 total
Tax Payment
Common Stock, par value $0.01 per share
[F1]
2026-03-09−8,156→ 549,963 total
Exercise/Conversion
Restricted Stock Unit
[F2][F3]
2026-03-09−20,621→ 0 total
→ Common Stock, par value $0.01 per share (20,621 underlying)

Footnotes (3)

[F1]The reporting person elected to surrender 8,156 shares of Calumet, Inc. common stock, par value $0.01 per share, to satisfy tax withholding liabilities upon delivery of common stock in accordance with Rule 16b-3.
[F2]Each Restricted Stock Unit is the economic equivalent of one share of Calumet, Inc. common stock, par value $0.01 per share.
[F3]100% of the Restricted Stock Units vested on February 21, 2026.

Signature

/s/ Connor J. Egan, as attorney-in-fact|2026-03-10

1 file