A. WADE PURSELL - 03 Jul 2023 Form 4 Insider Report for SM Energy Co (SM)

Role: EVP & CFO
Signature: Andrew T. Fiske (Attorney-in-Fact)
Issuer symbol: SM
Transactions as of: 03 Jul 2023
Net transactions value: -$647,072
Form type: 4
Filing time: 06 Jul 2023, 16:15:24 UTC
Previous filing: 08 May 2023
Next filing: 24 Jul 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SM	Common Stock, $.01 Par Value	Other	$2,608	+98	+0.03%	$26.61	352,072	30 Jun 2023	Direct	F1
transaction	SM	Common Stock, $.01 Par Value	Options Exercise		+27,871	+7.9%		379,943	03 Jul 2023	Direct	F2
transaction	SM	Common Stock, $.01 Par Value	Tax liability	$323,353	-10,223	-2.7%	$31.63	369,720	03 Jul 2023	Direct
transaction	SM	Common Stock, $.01 Par Value	Options Exercise		+13,067	+3.5%		382,787	03 Jul 2023	Direct	F3
transaction	SM	Common Stock, $.01 Par Value	Tax liability	$180,829	-5,717	-1.5%	$31.63	377,070	03 Jul 2023	Direct
transaction	SM	Common Stock, $.01 Par Value	Options Exercise		+10,514	+2.8%		387,584	03 Jul 2023	Direct	F4
transaction	SM	Common Stock, $.01 Par Value	Tax liability	$145,498	-4,600	-1.2%	$31.63	382,984	03 Jul 2023	Direct

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	SM	Restricted Stock Units	Options Exercise		-27,871	-100%		0	03 Jul 2023	Common Stock, $.01 Par Value	27,871		Direct	F2
transaction	SM	Restricted Stock Units	Options Exercise		-13,067	-50%		13,067	03 Jul 2023	Common Stock, $.01 Par Value	13,067		Direct	F3
transaction	SM	Restricted Stock Units	Options Exercise		-10,514	-33%		21,029	03 Jul 2023	Common Stock, $.01 Par Value	10,514		Direct	F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The Reporting Person purchased 98 shares of the Issuer's common stock on June 30, 2023, through the Issuer's Employee Stock Purchase Plan.
F2	Each restricted stock unit represents a contingent right to receive one share of stock. The restricted stock unit grant vested in three equal installments on December 14, 2021, July 1, 2022 and July 1, 2023. The vested shares were issued to the Reporting Person on the vesting dates, at which time all restrictions on the vested shares lapsed.
F3	Each restricted stock unit represents a contingent right to receive one share of stock. The restricted stock unit grant vests in three equal annual installments beginning July 1, 2022. The vested shares will be issued to the Reporting Person on the vesting dates, at which time all restrictions on the vested shares will lapse.
F4	Each restricted stock unit represents a contingent right to receive one share of stock. The restricted stock unit grant vests in three equal annual installments beginning on July 1, 2023. The vested shares will be issued to the Reporting Person on the vesting dates, at which time all restrictions on the vested shares will lapse.