SM Energy (NYSE: SM) COO settles 4,160 RSUs, withholds shares for tax

Rhea-AI Filing Summary

SM Energy EVP and COO Blake Douglas McKenna reported routine equity compensation activity involving restricted stock units and related tax withholding. On July 1, 2026, he exercised 4,160 restricted stock units into common shares, and 1,196 shares were disposed of at $26.10 per share to cover tax obligations. Following these transactions, the filing shows 2,964 shares of common stock held directly and 8,321 restricted stock units outstanding. Footnotes state that the restricted stock unit grant vests in three equal annual installments beginning on July 1, 2026, with vested shares delivered as they vest.

Insider Trade Summary

4,160 shares exercised/converted

Mixed 3 txns

Insider McKenna Blake Douglas

Role EVP and COO

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	4,160	$0.00	--
Exercise	Common Stock, $.01 Par Value	4,160	$0.00	--
Tax Withholding	Common Stock, $.01 Par Value	1,196	$26.10	$31K

Holdings After Transaction: Restricted Stock Units — 8,321 shares (Direct, null); Common Stock, $.01 Par Value — 4,160 shares (Direct, null)

Footnotes (1)

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Key Figures

RSUs exercised: 4,160 units Tax-withholding shares: 1,196 shares Tax-withholding price: $26.10 per share +3 more

6 metrics

RSUs exercised 4,160 units Restricted stock units converted to common shares on July 1, 2026

Tax-withholding shares 1,196 shares Shares disposed of to cover tax obligations at $26.10 per share

Tax-withholding price $26.10 per share Value applied to 1,196 shares used for tax withholding

Common shares held 2,964 shares Direct SM Energy common stock holdings after reported transactions

RSUs outstanding 8,321 units Restricted stock units remaining after derivative exercise entry

RSU vesting schedule 3 equal annual installments Vesting begins July 1, 2026, per footnote

Key Terms

Restricted Stock Units, tax-withholding disposition, derivative security

3 terms

Restricted Stock Units financial

"Each restricted stock unit represents a contingent right to receive one share of stock."

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

tax-withholding disposition financial

"Payment of exercise price or tax liability by delivering securities"

A tax-withholding disposition is an event or transaction—such as selling or transferring securities, exercising options, or receiving compensation—that triggers a requirement to hold back part of the payment and remit it to tax authorities. It matters to investors because it reduces the cash they receive immediately and can change the timing and amount of taxable income, like a cashier taking a portion of your sale proceeds to pay taxes before you get the rest.

derivative security financial

"Exercise or conversion of derivative security"

A derivative security is a financial contract whose value comes from the price or performance of something else, such as a stock, bond, commodity, or market index. For investors it acts like an insurance policy or a wager: it can be used to protect against losses, lock in prices, or amplify gains and losses, so it can change a portfolio’s risk and potential return without owning the underlying asset directly.

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Form 4 Insider Transactions: What Each Field Means →

Available on EDGAR 07/02/2026 - 04:17 PM Accepted by SEC EDGAR 07/02/2026 - 04:15 PM Learn about SEC filing dates

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^*

McKenna Blake Douglas

(Last) (First) (Middle)

1700 LINCOLN STREET

SUITE 3200

(Street)

DENVER COLORADO 80203

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
SM Energy Co [ SM ]

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

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP and COO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/01/2026

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)
			Code	V	Amount	(A) or (D)	Price
Common Stock, $.01 Par Value	07/01/2026		M		4,160	A	(1)	4,160	D
Common Stock, $.01 Par Value	07/01/2026		F		1,196	D	$26.1	2,964	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 Units	(1)	07/01/2026		M		4,160		(1)	(1)	Common Stock, $.01 Par Value	4,160	(1)	8,321	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of stock. The restricted stock unit grant vests in three equal annual installments beginning on July 1, 2026. The vested shares will be issued to the Reporting Person on the vesting dates, at which time all restrictions on the vested shares will lapse.

Remarks:

	Andrew T. Fiske (Attorney-in-Fact)	07/02/2026
	** 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)

FAQ

What insider transactions did SM Energy (SM) report for Blake Douglas McKenna?

SM Energy reported that EVP and COO Blake Douglas McKenna exercised 4,160 restricted stock units into common shares and had 1,196 shares disposed of to cover tax obligations. These transactions reflect routine equity compensation activity rather than open-market buying or selling.

How many SM Energy shares were used for Blake McKenna’s tax withholding?

The filing shows 1,196 SM Energy common shares were disposed of at $26.10 per share to satisfy tax obligations linked to equity compensation. This is classified as a tax-withholding disposition, not an open-market sale, and is a standard mechanism for covering associated tax liabilities.

How many SM Energy shares does Blake McKenna hold after these transactions?

After the reported transactions, Blake Douglas McKenna holds 2,964 SM Energy common shares directly, according to the filing. In addition, the derivative section shows 8,321 restricted stock units outstanding, which represent rights to receive shares as future vesting conditions are met.

What restricted stock unit activity did SM Energy report for Blake McKenna?

The filing records an exercise of 4,160 restricted stock units into SM Energy common stock and indicates 8,321 restricted stock units outstanding afterward. Each restricted stock unit represents a contingent right to receive one share upon vesting and issuance, subject to the award’s terms.

What is the vesting schedule for Blake McKenna’s SM Energy restricted stock units?

Footnotes explain that Blake Douglas McKenna’s restricted stock unit grant vests in three equal annual installments beginning on July 1, 2026. Vested shares will be issued to him on each vesting date, at which point the associated restrictions on those shares will lapse.

Does Blake McKenna’s Form 4 show open-market buying or selling of SM Energy stock?

The Form 4 does not show open-market purchases or sales. Instead, it reports a derivative exercise of 4,160 restricted stock units into common shares and a tax-withholding disposition of 1,196 shares. These are compensation-related transactions rather than discretionary market trades.