Calumet (CLMT) SVP and General Counsel receives new stock unit grants

Rhea-AI Filing Summary

Morical Gregory J reported acquisition or exercise transactions in this Form 4 filing.

Calumet, Inc. reported that SVP and General Counsel Gregory J. Morical received equity awards in the form of stock units. On February 24, 2026, he was granted 6,197 Restricted Stock Units and 4,432 Common Stock Units, each economically equivalent to one share of Calumet common stock.

Some of these awards are 2025 performance-based restricted stock units, with performance certified by the board on the grant date and additional service-based vesting required through February 25, 2028. Other Restricted Stock Units are scheduled to vest on February 24, 2029, tying a portion of his compensation to longer-term company performance and continued service.

Insider Trade Summary

2 transactions reported

Mixed 2 txns

Insider Morical Gregory J

Role SVP, GENERAL COUNSEL

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units	6,197	$0.00	--
Grant/Award	Common Stock Unit	4,432	$0.00	--

Holdings After Transaction: Restricted Stock Units — 6,197 shares (Direct); Common Stock Unit — 4,432 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. Reflects 2025 performance-based restricted stock units, for which performance was certified by the Company's Board of Directors on the transaction date. These Restricted Stock Units remain subject to service based vesting requirements through February 25, 2028. These Restricted Stock Units vest on February 24, 2029.

Form 4 Insider Transactions: What Each Field Means →

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^*

Morical Gregory J

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	SVP, GENERAL COUNSEL

3. Date of Earliest Transaction (Month/Day/Year)
02/24/2026

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

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 Units	(1)	02/24/2026		A		6,197		(2)	(2)	Common Stock, par value $0.01 per share	6,197	$0	6,197	D
Common Stock Unit	(1)	02/24/2026		A		4,432		(3)	(3)	Common Stock, par value $0.01 per share	4,432	$0	4,432	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. Reflects 2025 performance-based restricted stock units, for which performance was certified by the Company's Board of Directors on the transaction date. These Restricted Stock Units remain subject to service based vesting requirements through February 25, 2028.

3. These Restricted Stock Units vest on February 24, 2029.

	/s/ Connor J. Egan, as attorney-in-fact	02/26/2026
	** 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.

FAQ

What insider transaction did CLMT report for Gregory J. Morical?

Gregory J. Morical received equity awards, not an open-market trade. He was granted 6,197 Restricted Stock Units and 4,432 Common Stock Units on February 24, 2026, as part of his compensation package.

Are the new Calumet (CLMT) awards equivalent to common stock?

Yes. Each Restricted Stock Unit is the economic equivalent of one share of Calumet, Inc. common stock. This structure aligns the SVP and General Counsel’s compensation directly with future movements in the company’s share price.

When do Gregory Morical’s 2025 performance-based RSUs at CLMT vest?

The 2025 performance-based restricted stock units require continued service through February 25, 2028. Performance for these units was certified by Calumet’s board on February 24, 2026, and vesting now depends on Mr. Morical remaining with the company.

What is the vesting date for Morical’s additional Calumet Restricted Stock Units?

Another tranche of Restricted Stock Units granted to Gregory J. Morical is scheduled to vest on February 24, 2029. This later vesting date extends his long-term equity exposure and encourages retention over several years.

Did the CLMT insider Form 4 show any stock sales by Gregory Morical?

No. The filing only reported awards of stock units, coded as acquisitions under transaction code “A.” There were no reported open-market purchases or sales of Calumet, Inc. common stock in this Form 4.