Form 4: Calumet Director Mawer Acquires 2,348 Restricted Stock Units

Calumet Director Stephen P. Mawer reported the acquisition of 2,348 Restricted Stock Units, with varying vesting schedules, effective November 6, 2025.

Summary

• Stephen P. Mawer, a Director of Calumet, Inc. (CLMT), reported the acquisition of 2,348 Restricted Stock Units (RSUs).
• The transaction date for these acquisitions is November 6, 2025.
• The RSUs are the economic equivalent of one share of Calumet, Inc. common stock, par value $0.01 per share.
• One grant consists of 1,761 RSUs, which are 100% vested and will be settled upon the earlier of a date specified by the reporting person or the reporting person's termination date.
• A second grant consists of 587 RSUs, which will vest 25% on July 1 of each year beginning on July 1, 2026, and will be settled upon the earlier of a date specified by the reporting person or the reporting person's termination date pursuant to the Deferred Compensation Plan.
• Following these transactions, Stephen P. Mawer beneficially owns a total of 2,348 Restricted Stock Units directly.

Sentiment

Score: 6

Explanation: The filing reports a routine insider equity grant, which is generally neutral but can be seen as slightly positive due to increased director alignment with shareholder interests.

Positives

• The acquisition of Restricted Stock Units by a director increases their equity stake in the company, potentially aligning their interests more closely with those of shareholders.

Future Outlook

The acquired Restricted Stock Units will be settled upon the earlier of a date specified by the reporting person or the reporting person's termination date. A portion of the RSUs (587 units) will begin vesting at 25% annually starting July 1, 2026.

Industry Context

The grant of Restricted Stock Units to directors is a common form of equity compensation in publicly traded companies, aiming to align management and director incentives with long-term shareholder value creation. This filing represents a routine disclosure of such an insider transaction.

Related Party Transactions

• The grant of Restricted Stock Units to Director Stephen P. Mawer constitutes a related-party transaction as it involves compensation from the company to a member of its board.

Stakeholder Impact

• Shareholders may view the director's increased equity ownership as a positive sign of alignment with long-term company performance and a commitment to the company's future.

Next Steps

• Vesting of 25% of 587 Restricted Stock Units annually, commencing July 1, 2026.
• Settlement of all Restricted Stock Units upon the earlier of a specified date or the reporting person's termination date.

Key Dates

Keywords

Calumet, CLMT, Form 4, insider transaction, restricted stock units, director, equity compensation, beneficial ownership