[Form 4] Murphy USA Inc. Insider Trading Activity

Rhea-AI Filing Summary

Clyde R Andrew, who is listed as President & CEO and a Director of Murphy USA Inc. (MUSA), reported transactions dated 10/02/2025 on a Form 4. The filing shows non‑derivative activity in Common Stock that includes an inheritance distribution: 155,757.432 shares are reported in association with the transaction and the filer notes that no purchase price was paid for those shares. The report also references 1,532.126 shares tied to a 401(k) plan and separately cites 75,422 shares held by a limited partnership; the 401(k) component includes 2.162 shares acquired through a plan statement dated 10/06/2025. The Form 4 was signed via attorney‑in‑fact on 10/06/2025.

Positive

• Increased insider ownership via inheritance: 155,757.432 shares reported
• Transparent disclosure of 401(k) plan holdings including 2.162 shares (plan statement dated 10/06/2025)

Negative

• None.

Insights

Corporate Governance Analyst

Insider ownership rose through an inheritance distribution, increasing reported beneficial holdings.

The filing records an acquisition of 155,757.432 shares via inheritance on 10/02/2025, with an explicit statement that no purchase price was paid. Such non‑purchase acquisitions increase the reporting person's beneficial stake without an open‑market purchase.

Higher insider ownership can align management and shareholder interests but does not by itself indicate operational changes; monitor future filings for any sales or exercises within the next 12 months to see if holdings are retained or monetized.

Compensation & Tax Specialist

Transaction type (inheritance) has different tax and disclosure implications than market purchases.

An inheritance distribution reported as 155,757.432 shares implies a transfer of existing shares rather than compensation or market activity; the filer confirms no purchase price. The report also notes 1,532.126 shares in a 401(k) plan, including 2.162 shares recorded on a plan statement dated 10/06/2025.

Tax consequences for the reporting person depend on basis and local rules; for shareholders, the key practical effect is the change in disclosed beneficial ownership on public records effective 10/02/2025.

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^*

Clyde R Andrew

(Last) (First) (Middle)

200 PEACH STREET

(Street)

EL DORADO AR 71730

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
Murphy USA Inc. [ MUSA ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President & CEO

3. Date of Earliest Transaction (Month/Day/Year)
10/02/2025

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	10/02/2025		I		105	A	(1)	155,757.432	D
Common Stock								1,532.126(2)	I	401(k) Plan
Common Stock								75,422	I	By Limited Partnership

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

Explanation of Responses:

1. Shares received upon inheritance distribution. No purchase price was paid in connection with this transaction.

2. Includes 2.162 shares acquired through the reporting person's 401(k) Plan. The information in this report is based on a plan statement dated October 6, 2025.

	/s/ Gregory L. Smith, attorney-in-fact	10/06/2025
	** 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 MUSA insider Clyde R Andrew report on the Form 4?

The filing reports an acquisition by inheritance of 155,757.432 shares dated 10/02/2025, plus holdings linked to a 401(k) and a limited partnership.

Was there a purchase price paid for the shares received by Clyde R Andrew?

No. The filing states the shares were received upon an inheritance distribution and that no purchase price was paid.

Does the Form 4 show any derivative transactions for MUSA by this reporting person?

No derivative securities are detailed in the report; only non‑derivative common stock and plan/partnership holdings are listed.

When was the Form 4 signed and who signed it?

The document was signed by an attorney‑in‑fact, Gregory L. Smith, on 10/06/2025.

What plan statement date is referenced for the 401(k) holdings?

The filing references a plan statement dated 10/06/2025 for the 401(k) information.