Calumet CFO acquires 20,000 shares from stock award

Q: How many CLMT shares did David Lunin receive from RSUs?

David Lunin, Calumet's EVP - CFO, acquired 20,000 common shares through the exercise of 20,000 Restricted Stock Units on October 19, 2026. The RSUs vested on September 11, 2026.

Q: How many CLMT shares did David Lunin surrender for tax withholding?

David Lunin surrendered 7,954 Calumet common shares to satisfy tax withholding liabilities upon delivery of common stock on October 19, 2026, in accordance with Rule 16b-3.

After the conversion, the reported RSU position was 0; 7,954 common shares were surrendered for tax withholding.

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Form Type

Rhea-AI Filing Summary

Calumet, Inc. EVP - CFO David Lunin exercised 20,000 Restricted Stock Units and acquired 20,000 common shares on October 19, 2026. The units vested on September 11, 2026, and the reported RSU position after the transaction was 0. Lunin surrendered 7,954 shares to satisfy tax withholding upon delivery of the common stock; no Rule 10b5-1 plan is reported.

Insider Trade Summary

20,000 shares exercised/converted

Exercise 3 txns

Insider Lunin David

Role EVP - CFO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units ^{F2, F3}	20,000	$0.00	$0.00
Exercise	Common Stock, par value $0.01 per share	20,000	$0.00	$0.00
Tax Withholding	Common Stock, par value $0.01 per share ^F1	7,954	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 0 contracts (Direct); Common Stock, par value $0.01 per share — 14,546 shares (Direct)

Footnotes (3)

F1. The reporting person elected to surrender 7,954 shares of Calumet, Inc. common stock, par value $0.01 per share, to satisfy tax withholding liabilities upon delivery of common stock in accordance with Rule 16b-3.
F2. Each Restricted Stock Unit is the economic equivalent of one share of Calumet, Inc. common stock, par value $0.01 per share.
F3. 100% of the Restricted Stock Units vested on September 11, 2026.

Key Figures

Restricted Stock Units exercised: 20,000 units Common shares acquired: 20,000 shares Shares surrendered for tax withholding: 7,954 shares +1 more

4 metrics

Restricted Stock Units exercised 20,000 units October 19, 2026; vested September 11, 2026

Common shares acquired 20,000 shares October 19, 2026

Shares surrendered for tax withholding 7,954 shares October 19, 2026

RSUs following transaction 0 units Reported after the October 19, 2026 transaction

Key Terms

Restricted Stock Units, tax withholding liabilities, Rule 16b-3

3 terms

Restricted Stock Units financial

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

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.

tax withholding liabilities financial

"to satisfy tax withholding liabilities upon delivery of common stock"

Rule 16b-3 regulatory

"in accordance with Rule 16b-3"

Rule 16b-3 is a Securities and Exchange Commission regulation that exempts certain routine, pre-approved transactions by company insiders from automatic liability for short-term trading profits. It acts like a safe harbor: if an insider follows a formal plan or the board approves specific transactions in advance, profits from buying and selling company stock within six months are not automatically reclaimed. Investors care because the rule clarifies when insider trades are permissible and reduces uncertainty about potential clawbacks.

FAQ

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

How many CLMT shares did David Lunin receive from RSUs?

David Lunin, Calumet's EVP - CFO, acquired 20,000 common shares through the exercise of 20,000 Restricted Stock Units on October 19, 2026. The RSUs vested on September 11, 2026.

How many CLMT shares did David Lunin surrender for tax withholding?

David Lunin surrendered 7,954 Calumet common shares to satisfy tax withholding liabilities upon delivery of common stock on October 19, 2026, in accordance with Rule 16b-3.

How many common shares does each CLMT Restricted Stock Unit represent?

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

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

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Available on EDGAR 10/21/2026 - 05:28 PM EDT Accepted by SEC EDGAR 10/21/2026 - 05:27 PM EDT

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^*

Lunin David

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
10/19/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock, par value $0.01 per share	10/19/2026		M		20,000	A	$0	22,500	D
Common Stock, par value $0.01 per share	10/19/2026		F		7,954⁽¹⁾	D	$0	14,546	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
Restricted Stock Units	⁽²⁾	10/19/2026		M			20,000	⁽³⁾	⁽³⁾	Common Stock, par value $0.01 per share	20,000	$0	0	D

Explanation of Responses:

1. The reporting person elected to surrender 7,954 shares of Calumet, Inc. common stock, par value $0.01 per share, to satisfy tax withholding liabilities upon delivery of common stock in accordance with Rule 16b-3.

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 September 11, 2026.

Remarks:

	/s/ Connor J. Egan, as attorney-in-fact	10/20/2026
	** 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)

Source: View Original Filing on SEC EDGAR