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Calumet, Inc. (CLMT) director converts 7,067 RSUs into common shares

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Calumet, Inc. director Karen G. Narwold reported the vesting and settlement of equity awards. On July 9, 2026, she exercised 7,067 Restricted Stock Units, each economically equivalent to one share of Calumet, Inc. common stock, into 7,067 shares of common stock. The footnotes state that 100% of these Restricted Stock Units vested on June 2, 2026, and following the transactions she holds 7,067 common shares directly, with no remaining units from this grant.

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Insider NARWOLD KAREN G
Role Director
Type Security Shares Price Value
Exercise Restricted Stock Unit 7,067 $0.00 --
Exercise Common Stock, par value $0.01 per share 7,067 $0.00 --
Holdings After Transaction: Restricted Stock Unit — 0 shares (Direct); Common Stock, par value $0.01 per share — 7,067 shares (Direct)
Footnotes (1)
  1. Each Restricted Stock Unit is the economic equivalent of one share of Calumet, Inc. common stock, par value $0.01 per share. 100% of the Restricted Stock Units vested on June 2, 2026.
RSUs exercised 7,067 units Restricted Stock Units exercised on July 9, 2026
Common shares received 7,067 shares Common stock issued upon RSU exercise on July 9, 2026
Shares held after 7,067 shares Direct common stock holdings following the reported transactions
Vesting date June 2, 2026 100% of the Restricted Stock Units vested on this date
Restricted Stock Unit financial
"The security title is listed as "Restricted Stock Unit""
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"
Exercise or conversion of derivative security financial
"Transaction code M is described as Exercise or conversion of derivative security"
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Form 4 Insider Transactions: What Each Field Means →

FAQ

What did Calumet, Inc. (CLMT) director Karen G. Narwold report in this Form 4?
Karen G. Narwold reported the exercise of 7,067 Restricted Stock Units into 7,067 shares of Calumet, Inc. common stock. These units had fully vested earlier, converting into directly held common shares.

How many Calumet, Inc. (CLMT) shares does Karen G. Narwold hold after the reported transactions?
After the reported transactions, Karen G. Narwold holds 7,067 shares of common stock directly. This reflects the full settlement of 7,067 Restricted Stock Units into common shares, with no units from this grant remaining.

What type of securities did Karen G. Narwold convert in the Calumet, Inc. (CLMT) Form 4?
She converted Restricted Stock Units that are each the economic equivalent of one Calumet, Inc. common share. A total of 7,067 units were exercised, resulting in issuance of 7,067 common shares.

When did the Restricted Stock Units for Calumet, Inc. (CLMT) fully vest for Karen G. Narwold?
The filing states that 100% of the Restricted Stock Units vested on June 2, 2026. The subsequent Form 4 dated July 9, 2026, reflects their exercise into common stock following this vesting.

Was there any open-market buying or selling by Karen G. Narwold in Calumet, Inc. (CLMT)?
The Form 4 shows no open-market purchases or sales. The only activity is an M-code exercise of 7,067 Restricted Stock Units into an equal number of common shares, a compensation-related conversion.
SEC Form 4
FORM 4UNITED 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*
NARWOLD KAREN G
(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)
XDirector10% Owner
Officer (give title below)Other (specify below)
2a. Foreign Trading Symbol
3. Date of Earliest Transaction (Month/Day/Year)
07/09/2026		6. Individual or Joint/Group Filing (Check Applicable Line)
XForm 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)
CodeVAmount(A) or (D)Price
Common Stock, par value $0.01 per share07/09/2026M7,067A$07,067D
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)
CodeV(A)(D)Date ExercisableExpiration DateTitleAmount or Number of Shares
Restricted Stock Unit(1)07/09/2026M7,067 (2) (2)Common Stock, par value $0.01 per share7,067$00D
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. 100% of the Restricted Stock Units vested on June 2, 2026.
Remarks:
/s/ Connor J. Egan, as attorney-in-fact07/10/2026
** Signature of Reporting PersonDate
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