Calumet EVP granted restricted stock units

Fleming Bruce A reported acquisition or exercise transactions in this Form 4 filing.

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Form Type

Rhea-AI Filing Summary

Fleming Bruce A reported acquisition or exercise transactions in this Form 4 filing.

Calumet, Inc. executive Bruce A. Fleming reported awards of restricted stock units tied to the company’s common stock. On March 31, 2026, he received 13,047 restricted stock units that are 100% vested and will be settled on the earlier of a date he specifies or his termination date.

On the same date, he also received 4,349 restricted stock units under a Deferred Compensation Plan that will be settled on the earlier of a specified date or his termination. For this award, 25% of the units vest on July 1 of each year beginning on July 1, 2027. Each unit is the economic equivalent of one share of Calumet, Inc. common stock, so these are compensation-related equity grants rather than open-market share purchases or sales.

Insider Trade Summary

Grant/Award: 17,396 shares

Grant/Award 2 txns

Insider Fleming Bruce A

Role EVP - MONTANA RENEWABLES

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Unit	13,047	$0.00	$0.00
Grant/Award	Restricted Stock Units	4,349	$0.00	$0.00

Holdings After Transaction: Restricted Stock Unit — 13,047 contracts (Direct); Restricted Stock Units — 4,349 contracts (Direct)

Footnotes (3)

F1. Each Restricted Stock Unit is the economic equivalent of one share of Calumet, Inc. common stock, par value $0.01 per share.
F2. 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.
F3. 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.

Key Figures

RSU grant 1: 13,047 restricted stock units RSU grant 2: 4,349 restricted stock units Vesting schedule: 25% per year +1 more

4 metrics

RSU grant 1 13,047 restricted stock units Awarded March 31, 2026; 100% vested; settles at specified date or termination

RSU grant 2 4,349 restricted stock units Awarded March 31, 2026 under Deferred Compensation Plan

Vesting schedule 25% per year For 4,349-unit award, vesting each July 1 beginning July 1, 2027

Share equivalence 1 unit = 1 share Each Restricted Stock Unit equals one share of Calumet common stock

Key Terms

Restricted Stock Unit, Deferred Compensation Plan, economic equivalent, vest

4 terms

Restricted Stock Unit financial

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

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.

Deferred Compensation Plan financial

"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"

A deferred compensation plan is an arrangement where an employer agrees to pay part of an employee’s pay or bonus at a later date instead of immediately, often to reduce current tax bills or to tie rewards to long-term performance. For investors it matters because these promises create future cash obligations and influence executive incentives and retention; they can affect a company’s reported liabilities, cash flow planning and the risk profile if the business faces financial trouble.

economic equivalent financial

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

vest financial

"25% of the Restricted Stock Units vest on July 1 of each year beginning on July 1, 2027"

A vest is the process by which an employee earns the right to receive certain benefits or ownership interests, such as stock or retirement funds, over time. It’s similar to earning a reward gradually, ensuring that the benefit becomes fully yours only after a set period or meeting specific conditions. This makes it important for investors because it determines when they can actually claim or use those benefits.

FAQ

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

What insider transaction did Calumet (CLMT) report for Bruce A. Fleming?

Calumet reported that EVP Bruce A. Fleming received two grants of restricted stock units on March 31, 2026. These equity awards are compensation-related and represent the right to receive Calumet common stock in the future, rather than open-market share purchases or sales.

How many restricted stock units did Bruce A. Fleming receive in this CLMT Form 4?

Bruce A. Fleming received one award of 13,047 restricted stock units and another award of 4,349 restricted stock units. Each restricted stock unit is the economic equivalent of one share of Calumet, Inc. common stock, providing future equity-based compensation exposure.

What are the vesting terms of Bruce A. Fleming’s CLMT restricted stock units?

One 13,047-unit award is 100% vested and will be settled on the earlier of a specified date or termination. The 4,349-unit award vests 25% each July 1, beginning July 1, 2027, with settlement on the earlier of a specified date or termination.

How and when will Bruce A. Fleming’s CLMT restricted stock units be settled?

Each restricted stock unit will be settled in connection with Calumet common stock on the earlier of a date specified by Bruce A. Fleming or his termination date. One grant is under the Deferred Compensation Plan, which governs the deferred settlement mechanics.

Are Bruce A. Fleming’s CLMT Form 4 transactions open-market buys or sells?

No, the Form 4 reports grant or award acquisitions of restricted stock units, not open-market trades. The transactions use code A, indicating compensation-related equity awards, so they do not represent buying or selling Calumet shares in the public market.

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

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Accepted by SEC EDGAR 04/02/2026 - 04:14 PM

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^*

Fleming Bruce A

(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 - MONTANA RENEWABLES

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
03/31/2026

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)

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 Unit	⁽¹⁾	03/31/2026		A		13,047		⁽²⁾	⁽²⁾	Common Stock, par value $0.01 per share	13,047	$0	13,047	D
Restricted Stock Units	⁽¹⁾	03/31/2026		A		4,349		⁽³⁾	⁽³⁾	Common Stock, par value $0.01 per share	4,349	$0	4,349	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	04/02/2026
	** 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

Calumet EVP granted restricted stock units

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