Bruce A. Fleming - Apr 4, 2024 Form 4 Insider Report for Calumet Specialty Products Partners, L.P. (CLMT)

Role: EVP - MONTANA RENEWABLES
Signature: /s/ Vincent Donargo, as attorney-in-fact
Stock symbol: CLMT
Transactions as of: Apr 4, 2024
Transactions value $: $0
Form type: 4
Date filed: 4/8/2024, 05:09 PM
Previous filing: Jan 22, 2024

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CLMT	Common Unit	Options Exercise	$0	+182K	+48.95%	$0.00	554K	Apr 4, 2024	Direct
transaction	CLMT	Common Unit	Tax liability	$0	-71.4K	-12.89%	$0.00	483K	Apr 4, 2024	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 Unit	Options Exercise	$0	-182K	-100%	$0.00^*	0	Apr 4, 2024	Common Unit	182K		Direct	F2, F3

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

Explanation of Responses:

Id	Content
F1	he reporting person elected to surrender 71,410 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.