Calumet, Inc. director Daniel J. Sajkowski reported equity award activity and a small share sale. On June 24, 2025, he exercised 3,796 Restricted Stock Units, converting them into 3,796 shares of common stock at a price of $0.00 per share.
Footnotes state each Restricted Stock Unit is economically equivalent to one common share and is 100% vested, and that he elected to receive 40% of the vested units in cash rather than stock. On the same date, he sold 1,518 common shares, leaving a direct holding of 84,237 common shares after the transactions.
Calumet, Inc. director Daniel J. Sajkowski reported a series of open-market sales of common stock under a pre-arranged Rule 10b5-1 trading plan. Between March 3 and July 1, 2025, he sold a total of 82,000 shares of common stock in five transactions at reported weighted average prices ranging from $10.66 to $15.77 per share. After the most recent sale of 2,000 shares at $15.77 per share, his direct holdings stood at 82,237 shares of Calumet, Inc. common stock.
Krutz John Robert reported acquisition or exercise transactions in this Form 4 filing.
Calumet, Inc. /DE reported that Chief Accounting Officer John Robert Krutz received a grant of 2,365 Restricted Stock Units on February 24, 2026. Each unit is the economic equivalent of one share of Calumet, Inc. common stock, and these units vest on February 24, 2029. After this award, Krutz holds 2,365 Restricted Stock Units directly.
Lunin David reported acquisition or exercise transactions in this Form 4 filing.
Calumet, Inc. executive vice president and CFO David Lunin reported receiving two grants of restricted stock units, totaling 9,786 and 7,080 units. Each unit equals one share of common stock. The 2025 performance-based units remain subject to service vesting through February 25, 2028, and the additional units vest on February 24, 2029.
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.
Fleming Bruce A reported acquisition or exercise transactions in this Form 4 filing.
Calumet, Inc. executive Bruce A. Fleming, EVP – Montana Renewables, reported receiving two equity awards of restricted stock units. He was granted 10,850 performance-based restricted stock units tied to 2025 performance that now remain subject to service-based vesting through February 25, 2028, and a separate grant of 7,700 restricted stock units that vest on February 24, 2029. Each unit represents the economic equivalent of one share of Calumet, Inc. common stock and was awarded at no cash purchase price.
Obermeier Scott reported acquisition or exercise transactions in this Form 4 filing.
Calumet, Inc. granted Executive Vice President – Specialties Scott Obermeier a total of 17,392 restricted stock units, each equivalent to one share of Calumet common stock.
Of these, 9,654 units are 2025 performance-based awards that remain subject to service-based vesting through February 25, 2028, and 7,738 additional units vest on February 24, 2029.
Borgmann Louis Todd reported acquisition or exercise transactions in this Form 4 filing.
Calumet, Inc. reported that Chief Executive Officer Louis Todd Borgmann received awards of restricted stock units. He was granted 67,882 performance-based restricted stock units tied to 2025 performance, which the board certified on the grant date, and these remain subject to continued service-based vesting through February 25, 2028. He also received a separate grant of 64,102 restricted stock units that vest on February 24, 2029. Each restricted stock unit represents the economic equivalent of one share of Calumet common stock, and the awards were recorded at no cash purchase price.
Two Seas Capital LP, its general partner and Sina Toussi report beneficial ownership of 8,098,229 shares of Calumet, Inc. common stock, equal to 9.3% of the class as of December 31, 2025.
The position is held through Two Seas Global (Master) Fund LP and includes 6,976,229 shares plus options to purchase 1,122,000 additional shares. The reporting persons indicate sole voting and dispositive power over these shares. The 9.3% figure is based on 86,754,321 shares outstanding as of November 10, 2025. They certify the holdings are in the ordinary course of business and not for changing or influencing control of Calumet.
Calumet, Inc. has amended its main credit facility through a Ninth Amendment to its Third Amended and Restated Credit Agreement. The change extends the facility’s maturity to January 23, 2031 and sets total lender commitments at $500.0 million, subject to borrowing base limitations.
The amendment also revises covenants, representations, warranties and events of default so the company or its subsidiaries can complete new inventory financing transactions once certain customary conditions are met. If any such inventory financing transaction occurs, total commitments under the credit agreement will be reduced from $500.0 million to $425.0 million.