Calumet (CLMT) director exercises 3,796 RSUs and sells 1,518 shares

Rhea-AI Filing Summary

Calumet, Inc. director Daniel J. Sajkowski reported equity award activity and a small share sale. On June 24, 2025, he exercised 3,796 Restricted Stock Units, converting them into 3,796 shares of common stock at a price of $0.00 per share.

Footnotes state each Restricted Stock Unit is economically equivalent to one common share and is 100% vested, and that he elected to receive 40% of the vested units in cash rather than stock. On the same date, he sold 1,518 common shares, leaving a direct holding of 84,237 common shares after the transactions.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Sajkowski Daniel J

(Last) (First) (Middle)

1060 N CAPITOL AVE

SUITE 6-401

(Street)

INDIANAPOLIS IN 46204

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Calumet, Inc. /DE [ CLMT ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
06/24/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)
10/03/2025

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock, par value $0.01 per share	06/24/2025		M		3,796	A	$0	85,755	D
Common Stock, par value $0.01 per share	06/24/2025		S		1,518(1)	D	$0	84,237	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted Stock Unit	(2)	06/24/2025		M			3,796	(3)	(3)	Common Stock, par value $0.01 per share	3,796	$0	0	D

Explanation of Responses:

1. The reporting person elected to receive 40% of Restricted Stock Units vested and reported here within to be settled in the cash equivalent of a Calumet, Inc. common share.

2. Each Restricted Stock Unit is the economic equivalent of one share of Calumet, Inc. common stock, par value $0.01 per share.

3. Each Restricted Stock Unit becomes payable either in the form of one share of Calumet, Inc. common stock, par value $0.01 per share, or the cash value thereof. Restricted Stock Units are 100% vested.

	/s/ Connor J. Egan, as attorney-in-fact	02/26/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
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FAQ

What insider transactions did CLMT director Daniel J. Sajkowski report?

Daniel J. Sajkowski reported exercising 3,796 Restricted Stock Units into 3,796 Calumet, Inc. common shares and selling 1,518 common shares. These Form 4/A transactions occurred on June 24, 2025, and reflect routine equity compensation activity combined with a relatively small share sale.

How many Calumet (CLMT) shares does Daniel J. Sajkowski hold after this Form 4/A?

After the reported transactions, Daniel J. Sajkowski directly holds 84,237 shares of Calumet, Inc. common stock. This figure reflects the conversion of 3,796 Restricted Stock Units into shares and the sale of 1,518 shares on June 24, 2025, as disclosed in the filing.

What type of equity awards did Daniel J. Sajkowski exercise at Calumet (CLMT)?

He exercised 3,796 Restricted Stock Units, which are economically equivalent to Calumet, Inc. common shares. The units were 100% vested and became payable in either shares or their cash value, with 40% elected to be settled in cash according to the footnotes provided.

Did the Calumet (CLMT) director’s Form 4/A show a stock sale?

Yes, the Form 4/A shows Daniel J. Sajkowski sold 1,518 shares of Calumet, Inc. common stock. The transaction is coded as an open-market or private sale, occurring on June 24, 2025, and follows his exercise of 3,796 Restricted Stock Units the same day.

At what price were the Calumet (CLMT) Restricted Stock Units exercised?

The 3,796 Restricted Stock Units were exercised at a price of $0.00 per share, typical for equity award conversions. Each unit is treated as the economic equivalent of one Calumet, Inc. common share, with the units already fully vested before this transaction.