Director John G. Boss receives RSU grants at Calumet, Inc. (CLMT)

Rhea-AI Filing Summary

Boss John G. reported acquisition or exercise transactions in this Form 4 filing.

Calumet, Inc. director John G. Boss reported receiving two grants of restricted stock units that are each economically equivalent to one share of common stock. One grant covers 256 units that are already 100% vested and will be settled on either a specified date or his termination date. A second grant covers 85 units under a deferred compensation plan, with 25% of these units scheduled to vest on July 1 of each year beginning on July 1, 2027, and settling on the earlier of a specified date or his termination date.

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^*

Boss John G.

(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)
02/24/2026

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

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

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)	02/24/2026		A		256		(2)	(2)	Common Stock, par value $0.01 per share	256	$0	256	D
Restricted Stock Units	(1)	02/24/2026		A		85		(3)	(3)	Common Stock, par value $0.01 per share	85	$0	85	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. Each Restricted Stock Unit will become settled upon the earlier of the date specified by the reporting person or the reporting person's termination date. Restricted Stock Units are 100% vested.

3. Each Restricted Stock Unit will be settled upon the earlier of the date specified by the reporting person or the reporting person's termination date pursuant to the Deferred Compensation Plan. 25% of the Restricted Stock Units vest on July 1 of each year beginning on July 1, 2027.

	/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.
* 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.
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FAQ

What insider transaction did Calumet, Inc. (CLMT) disclose for John G. Boss?

Calumet, Inc. reported that director John G. Boss received two grants of restricted stock units. One grant is 256 units, fully vested, and another is 85 units under a deferred compensation plan with future vesting beginning July 1, 2027.

How many restricted stock units did John G. Boss acquire in this CLMT Form 4?

John G. Boss acquired 256 restricted stock units in one grant and 85 restricted stock units in a second grant. Each restricted stock unit is economically equivalent to one share of Calumet, Inc. common stock, providing equity-based compensation rather than a cash transaction.

Are the restricted stock units granted to John G. Boss in CLMT fully vested?

The 256 restricted stock units granted to John G. Boss are 100% vested. The 85 restricted stock units vest gradually, with 25% vesting on July 1 of each year starting July 1, 2027, under Calumet’s deferred compensation plan structure.

When will John G. Boss’s Calumet (CLMT) restricted stock units be settled?

Each restricted stock unit will be settled on the earlier of a date specified by John G. Boss or his termination date. This applies to both grants, aligning settlement with either elected timing or the end of his service relationship.

What does each restricted stock unit represent for Calumet, Inc. (CLMT)?

Each restricted stock unit is the economic equivalent of one share of Calumet, Inc. common stock with a par value of $0.01. This gives John G. Boss equity-linked value without immediate share delivery until the units are settled.

How is the 85-unit RSU grant for John G. Boss structured at Calumet (CLMT)?

The 85-unit restricted stock grant is issued under a deferred compensation plan. Twenty-five percent of these units vest on July 1 each year, starting July 1, 2027, with settlement occurring on a specified date or upon John G. Boss’s termination.