SM Energy director sells 24,553 company shares

SM Energy Co director Ramiro G. Peru reported an open-market sale of company stock.

Rhea-AI Filing Summary

SM Energy Co director Ramiro G. Peru reported an open-market sale of company stock. He sold 24,553 shares of common stock at a price of $33.98 per share. After this transaction, he directly holds 65,964 shares of SM Energy common stock.

Insights

Equity ownership analyst

Director executed a notable but limited open-market share sale.

Director Ramiro G. Peru sold 24,553 shares of SM Energy Co common stock in an open-market transaction at $33.98 per share. The filing classifies this as a straightforward sale of non-derivative common stock.

Following the sale, he continues to hold 65,964 shares directly, indicating he retains a meaningful equity position. There are no derivative positions listed in this filing, suggesting the reported activity relates only to existing common shares, without concurrent option exercises or conversions.

Insider Trade Summary

Net Seller: 24,553 shares

Net Sell 1 txn

Insider PERU RAMIRO G

Role Director

Sold 24,553 shs ($834K)

Type	Security	Shares	Price	Value
Sale	Common Stock, $.01 Par Value	24,553	$33.98	$834K

Holdings After Transaction: Common Stock, $.01 Par Value — 65,964 shares (Direct)

Key Figures

Shares sold: 24,553 shares Sale price per share: $33.98 per share Shares held after transaction: 65,964 shares +1 more

4 metrics

Shares sold 24,553 shares Open-market sale of common stock

Sale price per share $33.98 per share Transaction price for sold shares

Shares held after transaction 65,964 shares Director’s direct ownership following sale

Net shares sold 24,553 shares Net change in buy/sell activity

Key Terms

open-market sale, Common Stock, $.01 Par Value, transaction code "S"

3 terms

open-market sale financial

"transaction_action": "open-market sale""

An open-market sale is when a shareholder sells existing shares directly on a public exchange to any willing buyer, rather than through a private deal. Think of it like putting goods on a busy market stall where price is set by supply and demand; for investors it matters because such sales increase available supply, can put short-term downward pressure on the stock price, and signal changes in liquidity or investor confidence.

Common Stock, $.01 Par Value financial

"security_title": "Common Stock, $.01 Par Value""

transaction code "S" financial

"transaction_code": "S""

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did SM Energy Co (SM) report for Ramiro G. Peru?

SM Energy Co director Ramiro G. Peru reported an open-market sale of 24,553 common shares. The shares were sold in a single transaction and are classified as non-derivative common stock with a par value of $0.01 per share.

At what price did Ramiro G. Peru sell SM Energy (SM) shares?

Ramiro G. Peru sold 24,553 SM Energy common shares at $33.98 per share. This price reflects the reported transaction value for the open-market sale disclosed in the Form 4 insider trading report filed for this transaction.

How many SM Energy (SM) shares does Ramiro G. Peru hold after the sale?

After the reported sale, Ramiro G. Peru directly holds 65,964 SM Energy common shares. This post-transaction share count reflects his remaining direct ownership as disclosed in the Form 4, with no derivative holdings listed in the filing’s summary.

Was the SM Energy (SM) insider trade by Ramiro G. Peru a buy or a sell?

The insider trade by Ramiro G. Peru was a sale. The Form 4 lists transaction code “S” and describes it as an open-market sale of 24,553 shares of SM Energy common stock at a transaction price of $33.98 per share.

Did the SM Energy (SM) Form 4 include any derivative transactions for Ramiro G. Peru?

No derivative transactions were reported for Ramiro G. Peru in this Form 4. The filing’s derivative transaction summary shows zero derivative entries, indicating the reported activity involved only non-derivative common stock and not options, warrants, or other derivative securities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 05/22/2026 - 04:16 PM EDT 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^*

PERU RAMIRO G

(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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
05/21/2026

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	05/21/2026		S		24,553	D	$33.98	65,964	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

Explanation of Responses:

Remarks:

	Andrew T. Fiske (Attorney-in-Fact)	05/22/2026
	** 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)