Form 4: Calumet CEO Awarded 131,984 Restricted Stock Units

Calumet, Inc. CEO Louis Todd Borgmann received 131,984 Restricted Stock Units as part of compensation, with varying vesting schedules.

Summary

• CEO Louis Todd Borgmann of Calumet, Inc. (CLMT) was granted a total of 131,984 Restricted Stock Units (RSUs) on February 24, 2026.
• One portion, consisting of 67,882 RSUs, is performance-based for 2025, with performance certified by the Company's Board of Directors on the transaction date. These units are subject to service-based vesting requirements through February 25, 2028.
• The second portion, consisting of 64,102 RSUs, will vest on February 24, 2029.
• Each Restricted Stock Unit is the economic equivalent of one share of Calumet, Inc. common stock, par value $0.01 per share.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive signal, reflecting ongoing executive compensation and the certification of prior year performance metrics, which can be interpreted as a sign of operational achievement.

Positives

• The grant of performance-based RSUs indicates that 2025 performance metrics were met and certified by the Board of Directors, suggesting operational achievement.
• The RSU awards align management's interests with long-term shareholder value through equity ownership and vesting requirements.

Future Outlook

The RSU grants, particularly the performance-based units, suggest a continued focus on achieving future operational and financial targets, with vesting schedules extending through early 2029.

Industry Context

StockSavvy.ai notes that executive equity compensation, such as Restricted Stock Units, is a standard practice across industries to incentivize long-term performance and align executive interests with shareholder value. The structure of these grants, including performance and service-based vesting, is common in the energy and refining sectors, similar to practices seen at companies like Valero Energy or Marathon Petroleum.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) with both performance and service-based vesting is a common compensation structure for CEOs in publicly traded companies, aligning with best practices for executive incentive plans. For example, major energy companies like ExxonMobil and Chevron frequently utilize similar equity-based awards to retain top talent and drive long-term strategic goals.
• The specific number of RSUs granted (131,984) would need to be evaluated against Calumet's market capitalization, the CEO's overall compensation package, and peer group compensation data (e.g., CEOs of similar-sized specialty petroleum product companies) to determine if it is within industry norms. Without that context, a direct comparison of the 'value' of the grant is difficult.

Stakeholder Impact

• Shareholders: The grant aligns the CEO's interests with long-term shareholder value through equity ownership and vesting conditions.
• Employees: May signal stability in executive leadership and a commitment to long-term company performance.

Next Steps

• Vesting of 67,882 performance-based RSUs through February 25, 2028, subject to service requirements.
• Vesting of 64,102 RSUs on February 24, 2029.

Key Dates

Recommendation

This Form 4 reports a routine executive compensation grant of Restricted Stock Units. While it indicates the CEO's continued alignment with shareholder interests and the certification of past performance, it does not provide new fundamental information to warrant a change in investment recommendation. Investors should 'hold' and monitor broader company performance and market conditions.

Keywords

Calumet Inc., CLMT, Restricted Stock Units, RSU, CEO Compensation, Executive Compensation, Insider Transaction, Form 4, Equity Grant, Performance-based compensation