David J. Whitcomb - Sep 1, 2022 Form 4 Insider Report for SM Energy Co (SM)

Role: VP - Marketing
Signature: Andrew T. Fiske (Attorney-in-Fact)
Stock symbol: SM
Transactions as of: Sep 1, 2022
Transactions value $: -$347,183
Form type: 4
Date filed: 9/2/2022, 06:03 PM
Previous filing: Aug 2, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	SM	Common Stock, $.01 Par Value	Options Exercise		+22.1K	+47.41%		68.7K	Sep 1, 2022	Direct	F1
transaction	SM	Common Stock, $.01 Par Value	Tax liability	-$347K	-7.88K	-11.46%	$44.07	60.9K	Sep 1, 2022	Direct

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

Explanation of Responses:

Id	Content
F1	On September 1, 2022, the Compensation Committee of the Board of Directors of the Issuer determined that 22,108 shares of the Issuer's common stock had been earned by the Reporting Person under the terms of a grant of performance share units ("PSUs"), based on the achievement of specific performance criteria that were not tied solely to the market price of the Issuer's common stock. The PSUs were granted to the Reporting Person on July 1, 2019, and represent the right to receive, upon the settlement of the PSUs, the determined number of earned shares of the Issuer's common stock based on the achievement of the performance criteria over a three-year performance period (with the determined number of earned shares being within a range of zero to two times the number of PSUs granted on the award date), to the extent that the PSUs have vested under separate employment service vesting provisions. The PSUs were fully vested on July 1, 2022.

Content

On September 1, 2022, the Compensation Committee of the Board of Directors of the Issuer determined that 22,108 shares of the Issuer's common stock had been earned by the Reporting Person under the terms of a grant of performance share units ("PSUs"), based on the achievement of specific performance criteria that were not tied solely to the market price of the Issuer's common stock. The PSUs were granted to the Reporting Person on July 1, 2019, and represent the right to receive, upon the settlement of the PSUs, the determined number of earned shares of the Issuer's common stock based on the achievement of the performance criteria over a three-year performance period (with the determined number of earned shares being within a range of zero to two times the number of PSUs granted on the award date), to the extent that the PSUs have vested under separate employment service vesting provisions. The PSUs were fully vested on July 1, 2022.