Patrick A. Lytle - 01 Jul 2025 Form 4 Insider Report for SM Energy Co (SM)

Role: Senior VP - Finance
Signature: Andrew T. Fiske (Attorney-in-Fact)
Issuer symbol: SM
Transactions as of: 01 Jul 2025
Net transactions value: -$34,727
Form type: 4
Filing time: 03 Jul 2025, 13:20:34 UTC
Previous filing: 28 Aug 2024
Next filing: 25 Jul 2025
SEC: View on sec.gov

Reporting Owners (1)

Name	Relationship	Address	Signature	Signature date	CIK
Lytle Patrick A	Senior VP - Finance	1700 LINCOLN STREET, SUITE 3200, DENVER	Andrew T. Fiske (Attorney-in-Fact)	03 Jul 2025	0001767858

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SM	Common Stock, $.01 Par Value	Other	$7,325	+224	+2.8%	$32.70	8,229	31 Dec 2024	Direct	F1
transaction	SM	Common Stock, $.01 Par Value	Other	$13,743	+644	+7.8%	$21.34	8,873	30 Jun 2025	Direct	F2
transaction	SM	Common Stock, $.01 Par Value	Options Exercise		+1,223	+14%		10,096	01 Jul 2025	Direct	F3
transaction	SM	Common Stock, $.01 Par Value	Tax liability	$12,627	-511	-5.1%	$24.71	9,585	01 Jul 2025	Direct
transaction	SM	Common Stock, $.01 Par Value	Options Exercise		+2,371	+25%		11,956	01 Jul 2025	Direct	F4
transaction	SM	Common Stock, $.01 Par Value	Tax liability	$24,463	-990	-8.3%	$24.71	10,966	01 Jul 2025	Direct
transaction	SM	Common Stock, $.01 Par Value	Options Exercise		+1,813	+17%		12,779	01 Jul 2025	Direct	F5
transaction	SM	Common Stock, $.01 Par Value	Tax liability	$18,705	-757	-5.9%	$24.71	12,022	01 Jul 2025	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		-1,223	-100%		0	01 Jul 2025	Common Stock, $.01 Par Value	1,223		Direct	F3
transaction	SM	Restricted Stock Units	Options Exercise		-2,371	-50%		2,371	01 Jul 2025	Common Stock, $.01 Par Value	2,371		Direct	F4
transaction	SM	Restricted Stock Units	Options Exercise		-1,813	-33%		3,627	01 Jul 2025	Common Stock, $.01 Par Value	1,813		Direct	F5

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

Explanation of Responses:

Id	Content
F1	The Reporting Person purchased 224 shares of the Issuer's common stock on December 31, 2024, through the Issuer's Employee Stock Purchase Plan.
F2	The Reporting Person purchased 644 shares of the Issuer's common stock on June 30, 2025, through the Issuer's Employee Stock Purchase Plan.
F3	Each restricted stock unit represents a contingent right to receive one share of stock. The restricted stock unit grant vested in three equal annual installments beginning on 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.
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, 2024. 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.
F5	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, 2025. 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.