Calumet (CLMT) EVP Bruce A. Fleming Exercises RSUs, Surrenders Shares

What Happened Bruce A. Fleming, EVP — Montana Renewables at Calumet, converted 107,428 restricted stock units (RSUs) into common shares on Sept. 25, 2026. To cover tax withholding tied to the delivery of those shares, 42,190 shares were surrendered (withheld) rather than sold on the open market. The RSU conversion entries are reported at $0.00 per share because these were vesting/settlement events, not open-market trades; net shares delivered to Fleming totaled 65,238 shares.

Key Details

• Transaction date: 2026-09-25; Form 4 filed: 2026-09-28 (timely).
• Reported entries: conversion of 107,428 RSUs to common stock (code M) and surrender of 42,190 shares for tax withholding (code F); all reported at $0.00 per share.
• Net shares received by Fleming: 65,238 (107,428 converted − 42,190 surrendered).
• Footnotes: F1 — 42,190 shares surrendered to satisfy tax withholding per Rule 16b-3; F2 — each RSU equals one share; F3 — 100% of the RSUs vested on August 1, 2026.
• Shares owned after the transaction are not disclosed in the filing.

Context This was a settlement of vested RSUs, not an open-market buy or sale. The surrender of shares to cover taxes is a common cashless-withholding mechanism and does not necessarily signal a view on the company’s stock. The filing was made within the required reporting window and simply documents the conversion and withholding tied to RSU vesting.