SM Energy (NYSE: SM) VP exercises RSUs, delivers 1,462 shares for tax

Rhea-AI Filing Summary

SM Energy Co Vice President - Controller Alan D. Bennett reported routine equity compensation activity involving restricted stock units that settled into common shares. On July 1, 2026, he exercised awards covering 3,497 shares of common stock, classified as derivative exercises/conversions.

To cover tax obligations, the filing shows tax-withholding dispositions totaling 1,462 shares of common stock at $26.10 per share. These dispositions were payments of tax liability by delivering shares, not open-market sales, and the filing reports no open-market purchases or sales of SM Energy stock.

Insider Trade Summary

3,497 shares exercised/converted

Mixed 9 txns

Insider Bennett Alan D

Role Vice President - Controller

Type	Security	Shares	Price	Value
Exercise	Restricted Stock Units	948	$0.00	--
Exercise	Restricted Stock Units	630	$0.00	--
Exercise	Restricted Stock Units	1,919	$0.00	--
Exercise	Common Stock, $.01 Par Value	948	$0.00	--
Tax Withholding	Common Stock, $.01 Par Value	396	$26.10	$10K
Exercise	Common Stock, $.01 Par Value	630	$0.00	--
Tax Withholding	Common Stock, $.01 Par Value	264	$26.10	$7K
Exercise	Common Stock, $.01 Par Value	1,919	$0.00	--
Tax Withholding	Common Stock, $.01 Par Value	802	$26.10	$21K

Holdings After Transaction: Restricted Stock Units — 0 shares (Direct, null); Common Stock, $.01 Par Value — 2,599 shares (Direct, null)

Footnotes (1)

1. Each restricted stock unit represents a contingent right to receive one share of stock. The restricted stock unit grant vested in three equal annual installments beginning on July 1, 2024. The vested shares were issued to the Reporting Person on the vesting dates, at which time all restrictions on the vested shares lapsed. 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, 2025. 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. 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.

Key Figures

RSU-derived shares exercised: 3,497 shares Tax-withheld shares: 1,462 shares Tax withholding price: $26.10 per share +2 more

5 metrics

RSU-derived shares exercised 3,497 shares Total derivative exercise/conversion shares on July 1, 2026

Tax-withheld shares 1,462 shares Shares delivered to cover tax liability

Tax withholding price $26.10 per share Price applied to F-code tax-withholding dispositions

Exercise transactions count 3 exercises Number of derivative exercises (M-code) reported

Tax-withholding transactions count 3 dispositions Number of F-code tax-withholding entries

Key Terms

Restricted Stock Units, tax-withholding disposition, derivative exercise/conversion

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 exercise/conversion financial

"Exercise or conversion of derivative security."

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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^*

Bennett Alan D

(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)
	Vice President - Controller

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		948	A	(1)	2,599	D
Common Stock, $.01 Par Value	07/01/2026		F		396	D	$26.1	2,203	D
Common Stock, $.01 Par Value	07/01/2026		M		630	A	(2)	2,833	D
Common Stock, $.01 Par Value	07/01/2026		F		264	D	$26.1	2,569	D
Common Stock, $.01 Par Value	07/01/2026		M		1,919	A	(3)	4,488	D
Common Stock, $.01 Par Value	07/01/2026		F		802	D	$26.1	3,686	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			948	(1)	(1)	Common Stock, $.01 Par Value	948	(1)	0	D
Restricted Stock Units	(2)	07/01/2026		M			630	(2)	(2)	Common Stock, $.01 Par Value	630	(2)	631	D
Restricted Stock Units	(3)	07/01/2026		M			1,919	(3)	(3)	Common Stock, $.01 Par Value	1,919	(3)	3,841	D

Explanation of Responses:

1. Each restricted stock unit represents a contingent right to receive one share of stock. The restricted stock unit grant vested in three equal annual installments beginning on July 1, 2024. The vested shares were issued to the Reporting Person on the vesting dates, at which time all restrictions on the vested shares lapsed.

2. 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, 2025. 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.

3. 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 (SM Energy Co) report for Alan D. Bennett?

Alan D. Bennett reported exercising restricted stock units into 3,497 shares of SM Energy common stock on July 1, 2026. The transactions are classified as derivative exercises and related tax-withholding dispositions, with no open-market purchases or sales disclosed.

Did the SM Energy Co officer sell shares in the open market in this Form 4?

No open-market sales are reported. The filing shows 1,462 shares disposed of as tax-withholding at $26.10 per share, described as payment of tax liability by delivering securities, not discretionary market sales.

How many SM Energy shares did Alan D. Bennett acquire through equity awards?

The Form 4 shows derivative exercises/conversions covering 3,497 shares of SM Energy common stock. These arose from restricted stock unit grants that vested and were settled into shares according to the award vesting schedules described in the footnotes.

What price is associated with the SM Energy tax-withholding share dispositions?

The tax-withholding dispositions used a price of $26.10 per share for SM Energy common stock. This price applies to a total of 1,462 shares delivered to satisfy tax obligations linked to the vesting and settlement of restricted stock units.

What do the SM Energy restricted stock unit footnotes explain in this Form 4?

The footnotes explain each restricted stock unit represents a right to one share, vesting in three equal annual installments starting on specific July 1 dates. Vested shares are issued on vesting dates, when restrictions lapse and related tax obligations are settled.