Form 4: Calumet SVP Sells Over 25,000 Shares Under Pre-Planned Trading Arrangement

Gregory J. Morical, SVP and General Counsel of Calumet, Inc., reported the sale of 25,123 shares of common stock on June 16, 2025, for a weighted average price of $16.69 per share, pursuant to a Rule 10b5-1 plan.

Summary

• Gregory J. Morical, the Senior Vice President and General Counsel of Calumet, Inc. (CLMT), reported a transaction involving the company's common stock.
• On June 16, 2025, Mr. Morical disposed of 25,123 shares of Common Stock, par value $0.01 per share.
• The shares were sold at a weighted average price of $16.69 per share, with individual transaction prices ranging from $16.68 to $16.80 per share.
• The transaction was indicated to be made pursuant to a contract, instruction, or written plan for the purchase or sale of equity securities intended to satisfy the affirmative defense conditions of Rule 10b5-1(c).
• Following this transaction, Mr. Morical beneficially owns 39,415 shares of Calumet, Inc. common stock.

Sentiment

Score: 5

Explanation: The transaction, while a sale by a senior executive, is indicated to be pursuant to a Rule 10b5-1 plan, which typically suggests a pre-scheduled, non-discretionary sale, mitigating potential negative market interpretations and resulting in a neutral sentiment.

Positives

• The transaction was indicated to be made pursuant to a Rule 10b5-1(c) plan, suggesting it was a pre-scheduled sale and not based on new, non-public information, which can mitigate negative market perception.

Negatives

• The sale of 25,123 shares by a senior executive, while potentially pre-planned, reduces the insider's direct equity stake in the company.

Risks

• Despite being potentially pre-planned, significant insider selling can sometimes be misinterpreted by the market, leading to negative sentiment or speculation if the context of the 10b5-1 plan is not fully appreciated.

Future Outlook

NA

Industry Context

This Form 4 filing reports an individual insider transaction and does not provide broader industry context or trends.

Stakeholder Impact

• Shareholders may view the sale as a routine personal financial transaction, especially given the indication of a Rule 10b5-1 plan, rather than a signal of lack of confidence in the company.

Key Dates

Keywords

Calumet, CLMT, insider trading, Form 4, stock sale, Gregory J. Morical, SVP, General Counsel, Rule 10b5-1