Form 4: Calumet Director John G. Boss Receives Restricted Stock Unit Grant

Calumet, Inc. Director John G. Boss was granted 7,067 Restricted Stock Units on June 11, 2025, aligning his interests with shareholders.

Summary

• John G. Boss, a Director of Calumet, Inc. (CLMT), acquired 7,067 Restricted Stock Units (RSUs).
• The transaction date for this acquisition was June 11, 2025.
• Each RSU is economically equivalent to one share of Calumet, Inc. common stock, par value $0.01 per share.
• The RSUs were acquired at a price of $0, which is typical for equity grants.
• Following this transaction, Mr. Boss beneficially owns 7,067 derivative securities (RSUs) directly.
• The RSUs are scheduled to vest upon the earlier of June 11, 2026, or the date of Calumet, Inc.'s Annual Meeting in 2026.
• Upon vesting, the Restricted Stock Units will be settled.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as it indicates standard corporate governance practices and aligns director interests with shareholders, without any negative implications.

Positives

• The grant of Restricted Stock Units to a director helps align management's interests with those of the shareholders, as the value of the compensation is tied to the company's stock performance.
• This is a standard form of equity compensation for directors, indicating ongoing commitment and incentivization.

Future Outlook

The Restricted Stock Units granted to Director John G. Boss are set to vest upon the earlier of June 11, 2026, or the date of Calumet, Inc.'s Annual Meeting in 2026, at which point they will be settled.

Industry Context

The grant of Restricted Stock Units to a director is a common and widely accepted practice in corporate governance across various industries. It serves as a non-cash compensation method that aligns the director's financial interests with the long-term performance of the company and its shareholders.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a form of director compensation is a standard practice observed across publicly traded companies, including those in the energy and specialty products sectors where Calumet, Inc. operates.
• The vesting schedule, tied to a specific future date or the annual meeting, is also a typical structure for such equity grants, similar to compensation plans at comparable companies like HollyFrontier Corporation (HFC) or Valero Energy Corporation (VLO) for their non-executive directors, though specific grant sizes and vesting terms vary by company and individual contribution.

Related Party Transactions

• The acquisition of 7,067 Restricted Stock Units by Director John G. Boss is a transaction between the company and a related party (an insider), which is a standard form of equity compensation.

Stakeholder Impact

• Shareholders: The grant of RSUs to a director aligns the director's financial incentives with the long-term performance of the company's stock, potentially benefiting shareholders through improved governance and strategic decisions.

Next Steps

• Vesting of the 7,067 Restricted Stock Units upon the earlier of June 11, 2026, or the date of Calumet, Inc.'s Annual Meeting in 2026.
• Settlement of the Restricted Stock Units upon their vesting.

Key Dates

Keywords

Calumet, CLMT, SEC Form 4, Restricted Stock Units, RSU, Director Compensation, Equity Grant, Insider Transaction