SM Energy CEO awarded 90,168 RSUs

McDonald Elizabeth Anne reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

McDonald Elizabeth Anne reported acquisition or exercise transactions in this Form 4 filing.

SM Energy Co granted its President & CEO, Elizabeth Anne McDonald, 90,168 restricted stock units on July 24, 2026. Each unit represents a contingent right to receive one share of common stock and vests in three equal annual installments beginning on July 1, 2027. Vested shares will be issued to McDonald on each vesting date, when all restrictions on those shares lapse, leaving her with 90,168 RSUs directly held, subject to vesting.

Insider Trade Summary

Grant/Award: 90,168 shares

Grant/Award 1 txn

Insider McDonald Elizabeth Anne

Role President & CEO

Type	Security	Shares	Price	Value
Grant/Award	Restricted Stock Units F1	90,168	$0.00	$0.00

Holdings After Transaction: Restricted Stock Units — 90,168 contracts (Direct)

Footnotes (1)

1. F1. 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, 2027. 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.

Key Figures

RSUs granted: 90168.0000 units Price per unit: $0.0000 Underlying common shares: 90168.0000 shares +2 more

5 metrics

RSUs granted 90168.0000 units Restricted stock units granted to President & CEO on 2026-07-24

Price per unit $0.0000 Grant, award, or other acquisition of restricted stock units

Underlying common shares 90168.0000 shares Each restricted stock unit represents one share of common stock

Vesting installments 3 Grant vests in three equal annual installments beginning on July 1, 2027

First vesting date July 1, 2027 First of three annual vesting dates for the RSU grant

Key Terms

Restricted Stock Units, contingent right, vesting dates

3 terms

Restricted Stock Units financial

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

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.

contingent right financial

"represents a contingent right to receive one share of stock"

vesting dates financial

"The vested shares will be issued to the Reporting Person on the vesting dates"

FAQ

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

What equity award did SM (SM) grant to its President & CEO?

SM Energy granted President & CEO Elizabeth Anne McDonald 90,168 restricted stock units on July 24, 2026. Each unit is a contingent right to one share of common stock, subject to future vesting conditions before shares are actually issued.

How do the 90,168 RSUs granted by SM (SM) vest?

The 90,168 restricted stock units vest in three equal annual installments beginning on July 1, 2027. On each vesting date, a third of the units convert into shares, and all restrictions on those vested shares lapse at issuance.

What does each restricted stock unit represent for SM (SM) CEO McDonald?

Each restricted stock unit represents a contingent right to receive one share of SM Energy common stock. Shares are not issued immediately; they are delivered only on the scheduled vesting dates, assuming the vesting conditions are satisfied.

What is Elizabeth Anne McDonald’s RSU holding in SM (SM) after this grant?

After this award, Elizabeth Anne McDonald directly holds 90,168 restricted stock units. These RSUs correspond to the same number of common shares, which will be issued over time as the units vest according to the three-year schedule.

Is there a cash purchase price for the SM (SM) RSUs granted to the CEO?

The reported transaction shows a per-unit price of $0.0000, indicating a grant or award rather than a market purchase. The economic value to the CEO depends on SM Energy’s share price when the units vest and shares are issued.

When will the first portion of SM (SM) CEO McDonald’s RSUs become shares?

The first installment of the RSU grant vests on July 1, 2027. On that date, one-third of the 90,168 units convert into common shares, which are issued to McDonald and become free of the vesting-related restrictions.

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

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Available on EDGAR 07/24/2026 - 04:20 PM Accepted by SEC EDGAR 07/24/2026 - 04:19 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^*

McDonald Elizabeth Anne

(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)
	President & CEO

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
07/24/2026

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

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)	07/24/2026		A		90,168		(1)	(1)	Common Stock, $.01 Par Value	90,168	$0	90,168	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, 2027. 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)	07/24/2026
	** 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)