Calumet director granted 3,461 RSUs

Raymond Paul C reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Raymond Paul C reported acquisition or exercise transactions in this Form 4 filing.

Calumet, Inc. director Raymond Paul C received a grant of 3,461 Restricted Stock Units on June 2, 2026. Each unit is the economic equivalent of one share of Calumet common stock.

The Restricted Stock Units vest on the earlier of June 2, 2027 or the company’s 2027 Annual Meeting, and will be settled in stock upon vesting. After this award, he holds 3,461 units directly.

Insider Trade Summary

Grant/Award: 3,461 shares

Grant/Award 1 txn

Insider Raymond Paul C

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	3,461	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 3,461 contracts (Direct)

Footnotes (2)

1. F1. Each Restricted Stock Unit is the economic equivalent of one share of Calumet, Inc. common stock, par value $0.01 per share.
2. F2. Restricted Stock Units vest upon the earlier of June 2, 2027 or the date on which Calumet, Inc. holds its Annual Meeting in 2027. Restricted Stock Units will be settled upon vesting.

Key Figures

RSUs granted: 3,461 units Post-award RSU holdings: 3,461 units RSU-to-share ratio: 1 unit = 1 share +1 more

4 metrics

RSUs granted 3,461 units Restricted Stock Unit award on June 2, 2026

Post-award RSU holdings 3,461 units Total Restricted Stock Units following transaction

RSU-to-share ratio 1 unit = 1 share Each RSU equals one share of common stock

Vesting date trigger June 2, 2027 Vests on earlier of June 2, 2027 or 2027 Annual Meeting

Key Terms

Restricted Stock Unit, economic equivalent, Annual Meeting

3 terms

Restricted Stock Unit financial

"The security reported is a Restricted Stock Unit linked to common stock value."

A restricted stock unit is a promise from a company to give an employee shares of stock after certain conditions are met, like staying with the company for a set amount of time. It’s like earning a bonus that turns into company stock once you’ve proven your commitment, making it a way to motivate and reward employees.

economic equivalent financial

"Each Restricted Stock Unit is the economic equivalent of one share of common stock."

Annual Meeting financial

"Restricted Stock Units vest upon the earlier of June 2, 2027 or the date of the 2027 Annual Meeting."

A company's annual meeting is a yearly gathering where owners (shareholders) and the board review performance, ask questions, and vote on key matters like electing directors, approving auditor choices, and sometimes setting pay or dividend policies. For investors it matters because decisions made and votes cast can change who runs the company, influence strategy and payouts, and affect the value or direction of their investment—similar to a homeowners’ meeting where rules and leaders that shape your property’s value are decided.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Calumet (CLMT) director Raymond Paul C report?

Raymond Paul C reported receiving 3,461 Restricted Stock Units as a compensation award. These units are derivative securities that convert into Calumet, Inc. common stock upon vesting, rather than an open-market share purchase or sale.

How many Calumet Restricted Stock Units were granted in this Form 4?

The Form 4 shows a grant of 3,461 Restricted Stock Units. Each unit represents the economic equivalent of one share of Calumet, Inc. common stock, giving the director exposure to the same value as 3,461 shares when settled.

When do Raymond Paul C’s Calumet RSUs from this filing vest?

The Restricted Stock Units vest on the earlier of June 2, 2027 or the date Calumet, Inc. holds its 2027 Annual Meeting. This schedule ties vesting either to a fixed one-year horizon or the company’s 2027 shareholder meeting date.

What does each Calumet Restricted Stock Unit in this grant represent?

Each Restricted Stock Unit is the economic equivalent of one share of Calumet, Inc. common stock. Upon vesting and settlement, the director is entitled to receive common stock, aligning the award’s value directly with the share price.

How will the Calumet RSU award to Raymond Paul C be settled?

The Restricted Stock Units will be settled upon vesting, delivering Calumet, Inc. common stock. Settlement in shares means the director’s compensation is tied to future stock performance rather than immediate cash payment.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 06/04/2026 - 04:31 PM Learn about SEC filing dates

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

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

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^*

Raymond Paul C

(Last) (First) (Middle)

1060 N CAPITOL AVE

SUITE 6-401

(Street)

INDIANAPOLIS INDIANA 46204

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
06/02/2026

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

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

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

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

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	(1)	06/02/2026		A		3,461		(2)	(2)	Common Stock, par value $0.01 per share	3,461	$0	3,461	D

Explanation of Responses:

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

2. Restricted Stock Units vest upon the earlier of June 2, 2027 or the date on which Calumet, Inc. holds its Annual Meeting in 2027. Restricted Stock Units will be settled upon vesting.

	/s/ Connor J. Egan, as attorney-in-fact	06/04/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)