Heritage Group - 15 May 2026 Form 4 Insider Report for Calumet, Inc. /DE (CLMT)

Reporting relationship: 13(d) 10% Group Member, 10%+ Owner
Issuer ticker: CLMT
Reported as of: 15 May 2026
Net transaction value: -$20,400,007
SEC form: 4
Accepted by SEC: 19 May 2026, 16:30:10 UTC
Prior SEC filing: 12 Jul 2024
Next SEC filing: 05 Jun 2026
Source filing: View source filing
Reporting owner signature: /s/ Amy Schumacher, CEO

Key filing fact

Heritage Group filed Form 4 for Calumet, Inc. /DE (CLMT) on 19 May 2026.

Key facts

This page summarizes Heritage Group's Form 4 filing for Calumet, Inc. /DE (CLMT).
3 reported transactions and 1 derivative row are listed below.
Accepted by SEC: 19 May 2026, 16:30.

Change

Previous filing in this sequence was filed on 12 Jul 2024.
Current net transaction value: -$20,400,007.

Research use

This tells you what this filing adds before you inspect full transaction and derivative tables.
You can trace every row back to the original SEC filing document.

Evidence

Filed on Form 4

Ownership activity is grounded in SEC Form 4 disclosures.

View source filing

Reporting Owners (1)

CIK 0001350750 Primary reporting owner

Heritage Group

Relationship: 13(d) 10% Group Member, 10%+ Owner
Address: 6640 INTECH BLVD, SUITE 200, INDIANAPOLIS
Signature: /s/ Amy Schumacher, CEO
Signature date: 19 May 2026

Reported non-derivative transactions

Shares, units, or other non-derivative securities reported in this filing.

CLMT transaction

Common Stock, par value $0.01 per share

Exercise of in-the-money or at-the-money derivative security

Transaction value
Shares: +1,020,000
Change %: +8.1%
Price: $20.00^*
Shares after: 13,607,209
Date: 15 May 2026
Ownership: Direct
Footnotes: F1

CLMT transaction

Common Stock, par value $0.01 per share

Sale

Transaction value: $20,400,007
Shares: -626,998
Change %: -4.6%
Price: $32.54
Shares after: 12,980,211
Date: 15 May 2026
Ownership: Direct
Footnotes: F1

CLMT holding

Common Stock, par value $0.01 per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 1,200,000
Date: 15 May 2026
Ownership: See Footnote
Footnotes: F2

CLMT holding

Common Stock, par value $0.01 per share

No transaction description listed

Transaction value
Shares
Change %
Price
Shares after: 882,974
Date: 15 May 2026
Ownership: See Footnote
Footnotes: F3

Reported derivative securities

Options, warrants, convertible securities, or similar derivative positions disclosed in the filing.

CLMT transaction Derivative

Warrants to purchase Common Stock

Exercise of in-the-money or at-the-money derivative security

Transaction value
Shares: -1,020,000
Change %: -100%
Price
Shares after: 0
Date: 15 May 2026
Ownership: Direct
Underlying class: Common Stock, par value $0.01 per share
Underlying amount: 1,020,000
Exercise price: $20.00
Footnotes: F1

^* marks a reported price that did not pass the local price check.

Additional SEC filing notes

Filing notes and footnotes

Explanation of responses 3 footnotes

Footnote F1

The reported transactions represent the cashless exercise and net settlement of warrants received in connection with the previously reported conversion of the Issuer to a corporation (resulting in the Issuer withholding 626,998 shares of Common Stock, par value $0.01 per share ("Common Stock") to pay the exercise price and issuing to the reporting person the remaining 393,002 shares of Common Stock).

Footnote F2

The reporting person beneficially owns 1,200,000 shares of Common Stock that are owned directly by The Heritage Group Investment Company, LLC, a limited liability company ("Investment LLC"), for which the reporting person serves as the Manager and which is wholly owned by the twenty-eight grantor trusts that are the sole general partners and owners of the reporting person. The reporting person disclaims beneficial ownership of the Common Stock owned by Investment LLC, except to the extent of any pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all the reported shares for purposes of Section 16 or for any other purpose.

Footnote F3

The reported securities are directly held by Calumet, Incorporated, an Indiana corporation. The reporting person is an indirect shareholder of Calumet, Incorporated through Asphalt Materials, Inc. ("AMI"), an entity controlled by the reporting person, and the reported amount has been adjusted in connection with the issuance by AMI of interests to certain management team members affiliated with the reporting person. The reporting person disclaims beneficial ownership of the Common Stock owned by Calumet, Incorporated, except to the extent of any pecuniary interest therein, and the inclusion of these shares in this report shall not be deemed an admission of beneficial ownership of all the reported shares for purposes of Section 16 or for any other purpose.