Calumet director reports sale of 24,555 shares

All of the restricted stock units covered by the transactions vested on August 1, 2026.

Rhea-AI Filing Summary

Calumet, Inc. (CLMT) director Stephen P. Mawer reported converting 61,387 restricted stock units into 61,387 common shares on September 25, 2026. He elected to have 40% of vested units settled in the cash equivalent of a common share. He also reported a sale of 24,555 common shares at a reported price of $0.0000 per share.

Insider Trade Summary

Exercise and sale activity reported; no spread calculated

Exercise and Sale 3 txns

Insider Mawer Stephen P

Role Director

Sold 24,555 shs ($0.00)

Approx. gross sale proceeds $0.00

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Unit F2, F3	61,387	$0.00	$0.00
Exercise	Common Stock, par value $0.01 per share	61,387	$0.00	$0.00
Sale	Common Stock, par value $0.01 per share F1	24,555	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 0 contracts (Direct); Common Stock, par value $0.01 per share — 348,410 shares (Direct)

Footnotes (3)

1. F1. 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. F2. Each Restricted Stock Unit is the economic equivalent of one share of Calumet, Inc. common stock, par value $0.01 per share.
3. F3. 100% of the Restricted Stock Units vested on August 1, 2026.

Key Figures

Restricted stock units converted: 61,387 RSUs Common shares acquired: 61,387 shares Common shares sold: 24,555 shares +2 more

5 metrics

Restricted stock units converted 61,387 RSUs Transaction dated September 25, 2026

Common shares acquired 61,387 shares Upon conversion of restricted stock units

Common shares sold 24,555 shares Transaction dated September 25, 2026

Reported transaction price $0.0000 per share Sale transaction

Cash-equivalent settlement election 40% of vested restricted stock units Settlement in the cash equivalent of a Calumet common share

Key Terms

Restricted Stock Units, cash equivalent, par value

3 terms

Restricted Stock Units financial

"40% of Restricted Stock Units vested and reported here"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

cash equivalent financial

"settled in the cash equivalent of a Calumet, Inc. common share"

par value financial

"Common Stock, par value $0.01 per share"

Par value is the fixed amount printed on a bond or stock that represents its original value when issued. It’s like the face value of a coin or bill—what the issuer promises to pay back or the starting price of a stock—though it often doesn’t change with market prices. It matters because it helps determine certain financial details, like how much the company will pay back at maturity.

FAQ

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

How many CLMT shares did director Stephen P. Mawer sell?

Stephen P. Mawer reported a sale of 24,555 Calumet common shares on September 25, 2026, at a reported $0.0000 per share. He elected cash-equivalent settlement for 40% of vested restricted stock units, and no Rule 10b5-1 plan is reported.

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

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Available on EDGAR 09/28/2026 - 04:36 PM Accepted by SEC EDGAR 09/28/2026 - 04:35 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^*

Mawer Stephen P

(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)
09/25/2026

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
Common Stock, par value $0.01 per share	09/25/2026		M		61,387	A	$0	372,965	D
Common Stock, par value $0.01 per share	09/25/2026		S		24,555(1)	D	$0	348,410	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)	09/25/2026		M			61,387	(3)	(3)	Common Stock, par value $0.01 per share	61,387	$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. 100% of the Restricted Stock Units vested on August 1, 2026.

Remarks:

	/s/ Connor J. Egan, as attorney-in-fact	09/25/2026
	** 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)