CLMT Form 4: Director Amy Schumacher awarded 3,796 RSUs, 100% vested

Rhea-AI Filing Summary

Amy M. Schumacher, a director of Calumet, Inc. (CLMT), reported receipt of 3,796 restricted stock units on 06/24/2025. The RSUs are described as the economic equivalent of one share each and are 100% vested. Each RSU is payable either in one share of Calumet common stock or the cash value thereof, and the reported acquisition price is $0 (reflecting issuance/settlement of RSUs rather than a cash purchase). The report lists 246,040 shares as the amount of securities beneficially owned following the transaction. The Form 4 was signed by an attorney-in-fact on behalf of the reporting person on 10/03/2025.

Positive

• 3,796 Restricted Stock Units were acquired, and they are 100% vested
• RSUs are payable in one share each or cash, providing flexibility at settlement
• Reporting person identified as Amy M. Schumacher, a director, improving disclosure clarity

Negative

• None.

Insights

Corporate Governance Expert

Director received 3,796 vested RSUs on 06/24/2025.

The filing shows 3,796 Restricted Stock Units were acquired and are 100% vested, meaning the reporting person has an immediate economic interest in those units. The RSUs convert into one share each or cash at settlement, and the transaction price is reported as $0, which is typical for compensation-related awards that vest rather than open-market purchases.

The report also discloses 246,040 shares beneficially owned following the transaction, establishing the director's total reported stake as recorded on this Form 4.

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).

1. Name and Address of Reporting Person^*

Schumacher Amy M

(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)
06/24/2025

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
Common Stock, par value $0.01 per share	06/24/2025		M		3,796	A	$0	246,040	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	(1)	06/24/2025		M			3,796	(2)	(2)	Common Stock, par value $0.01 per share	3,796	$0	0	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 becomes payable either in the form of one share of Calumet, Inc. common stock, par value $0.01 per share, or the cash value thereof. Restricted Stock Units are 100% vested.

	/s/ Connor J. Egan, as attorney-in-fact	10/03/2025
	** 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.

FAQ

What did Amy M. Schumacher report on Form 4 for CLMT?

She reported acquisition of 3,796 Restricted Stock Units on 06/24/2025, which are 100% vested and payable in shares or cash.

How many shares does the Form 4 show after the transaction for CLMT?

The Form 4 lists 246,040 shares as the amount of securities beneficially owned following the reported transaction.

Was there a cash purchase price for the reported CLMT shares?

No; the transaction is reported with a price of $0, reflecting issuance/settlement of RSUs rather than a market purchase.

What is the settlement option for the RSUs reported on CLMT Form 4?

Each Restricted Stock Unit is payable either in one share of Calumet common stock or the cash value thereof, per the filing.

When was the Form 4 signed and who signed it?

The signature on the filed Form 4 is by Connor J. Egan, as attorney-in-fact, dated 10/03/2025.