Todd Borgmann - Apr 18, 2022 Form 4 Insider Report for Calumet Specialty Products Partners, L.P. (CLMT)

Role: EVP and CFO
Signature: /s/ Vincent Donargo, as attorney-in-fact
Stock symbol: CLMT
Transactions as of: Apr 18, 2022
Transactions value $: $0
Form type: 4
Date filed: 4/20/2022, 09:32 PM
Previous filing: Feb 24, 2022
Next filing: Aug 30, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CLMT	Common Units	Options Exercise	$0	+25.2K	+52.56%	$0.00	73.2K	Apr 18, 2022	Direct
transaction	CLMT	Common Units	Tax liability	$0	-10.9K	-14.92%	$0.00	62.3K	Apr 18, 2022	Direct	F1

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	CLMT	Phantom Units	Options Exercise	$0	-25.2K	-100%	$0.00^*	0	Apr 18, 2022	Common Unit	25.2K		Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	The reporting person elected to surrender 10,925 common units to satisfy tax withholding liabilities upon delivery of common units in accordance with Rule 16b-3.
F2	Each Phantom Unit is the economic equivalent of a Calumet Specialty Products Partners, L.P. Common Unit.
F3	Each Phantom Unit becomes payable either in the form of a Common Unit or the cash value thereof upon the earlier of the date specified by the reporting person or the reporting person's termination date pursuant to the Deferred Compensation Plan. Phantom Units are 100% vested.