SM Energy CFO gifts 7,500 shares, ESPP buy 184

SM Energy Co EVP & CFO A. Wade Pursell reported two non-market transactions in company stock.

Rhea-AI Filing Summary

SM Energy Co EVP & CFO A. Wade Pursell reported two non-market transactions in company stock. On March 12, 2026, he made a bona fide gift of 7,500 shares of common stock with no sale proceeds, leaving him with 398,110 shares held directly afterward.

Earlier, on December 31, 2025, he purchased 184 shares of common stock at $15.96 per share through the company’s Employee Stock Purchase Plan, after which he held 405,610 shares directly.

Insider Trade Summary

7,500 shares gifted

Gift 2 txns

Insider PURSELL A WADE

Role EVP & CFO

Type	Security	Shares	Price	Value
Gift	Common Stock, $.01 Par Value	7,500	$0.00	$0.00
Other	Common Stock, $.01 Par Value	184	$15.96	$3K

Holdings After Transaction: Common Stock, $.01 Par Value — 398,110 shares (Direct)

Footnotes (1)

1. F1. The Reporting Person purchased 184 shares of the Issuer's common stock on December 31, 2025, through the Issuer's Employee Stock Purchase Plan.

FAQ

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

What insider transactions did SM Energy (SM) CFO A. Wade Pursell report?

A. Wade Pursell reported a bona fide gift of 7,500 SM Energy common shares on March 12, 2026, and a purchase of 184 shares at $15.96 on December 31, 2025, through the Employee Stock Purchase Plan.

How many SM Energy (SM) shares did the CFO gift and when?

The CFO gifted 7,500 shares of SM Energy common stock on March 12, 2026. This bona fide gift was reported with a zero dollar price per share and reduced his directly held position to 398,110 shares afterward.

Did the SM Energy (SM) CFO buy shares under an employee plan?

Yes. On December 31, 2025, the SM Energy CFO purchased 184 common shares at $15.96 each through the company’s Employee Stock Purchase Plan, increasing his directly held position to 405,610 shares immediately following that transaction.

What are the SM Energy (SM) CFO’s direct share holdings after these transactions?

After purchasing 184 shares on December 31, 2025, the CFO held 405,610 shares directly. Following the later gift of 7,500 shares on March 12, 2026, his direct holdings decreased to 398,110 shares of SM Energy common stock.

Were any of the SM Energy (SM) CFO’s transactions open-market sales?

No. The filing shows a bona fide gift of 7,500 shares at a reported price of $0.00 per share and a purchase of 184 shares through the Employee Stock Purchase Plan, with no open-market sales reported in these transactions.

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

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Accepted by SEC EDGAR 03/13/2026 - 04:29 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^*

PURSELL A WADE

(Last) (First) (Middle)

1700 LINCOLN STREET

SUITE 3200

(Street)

DENVER CO 80203

(City) (State) (Zip)

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 & CFO

3. Date of Earliest Transaction (Month/Day/Year)
03/12/2026

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, $.01 Par Value	12/31/2025		J(1)		184	A	$15.96	405,610	D
Common Stock, $.01 Par Value	03/12/2026		G		7,500	D	$0	398,110	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:

1. The Reporting Person purchased 184 shares of the Issuer's common stock on December 31, 2025, through the Issuer's Employee Stock Purchase Plan.

Remarks:

	Andrew T. Fiske (Attorney-in-Fact)	03/13/2026
	** 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.