Form 4: Calumet Director Karen Narwold Granted 7,067 Restricted Stock Units

Calumet, Inc. director Karen G. Narwold was granted 7,067 Restricted Stock Units (RSUs) on June 11, 2025, as part of her compensation.

Summary

• Karen G. Narwold, a Director of Calumet, Inc. (CLMT), was granted 7,067 Restricted Stock Units (RSUs) on 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, indicating they were a grant rather than a purchase.
• Following this transaction, Ms. Narwold beneficially owns 7,067 derivative securities (RSUs) directly.
• The Restricted Stock Units 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: 7

Explanation: The grant of Restricted Stock Units to a director is generally a positive signal as it aligns the director's interests with shareholder value, indicating commitment and incentivizing long-term performance. It is a standard compensation practice.

Positives

• The grant of Restricted Stock Units to a director aligns the director's interests with those of the shareholders, as the value of the compensation is tied to the company's stock performance.
• This type of equity compensation is a common practice for retaining and incentivizing board members.

Risks

• The value of the granted Restricted Stock Units is subject to the future performance of Calumet, Inc.'s common stock; a decline in stock price before vesting would reduce the ultimate value received by the director.

Future Outlook

The granted Restricted Stock Units 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

This Form 4 filing is a standard disclosure of an insider equity grant, common across all industries for executive and director compensation, aiming to align management and board interests with shareholder value.

Corporate Governance

Related Party Transactions

• The grant of 7,067 Restricted Stock Units to Karen G. Narwold, a Director of Calumet, Inc., constitutes a related party transaction as it involves compensation provided by the company to a member of its board.

Stakeholder Impact

• Shareholders: The grant of RSUs, while a form of compensation, can lead to minor dilution upon settlement, but primarily aims to align the director's interests with shareholder value creation.
• Employees: No direct impact on general employees is indicated by this specific filing.
• Director (Karen G. Narwold): Receives equity compensation that vests over time, tying her personal financial outcome to the company's stock performance.

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 vesting.

Key Dates

Keywords

Calumet Inc., CLMT, Restricted Stock Units, RSU, Director compensation, SEC Form 4, Insider transaction, Equity grant, Corporate governance