SM Energy Co — Director's Dealing 2011

Mar 3, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SM Energy Co (SM)
CIK: 0000893538
Period of Report: 2011-03-01

Reporting Person: Solomon Mark T (Controller)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-01	Common Stock; $.01 Par Value	M	2174	$12.50	Acquired	5169	Direct
2011-03-01	Common Stock; $.01 Par Value	M	2174	$12.525	Acquired	7343	Direct
2011-03-01	Common Stock; $.01 Par Value	M	2550	$13.65	Acquired	9893	Direct
2011-03-01	Common Stock; $.01 Par Value	M	1916	$12.66	Acquired	11809	Direct
2011-03-01	Common Stock; $.01 Par Value	M	358	$13.39	Acquired	12167	Direct
2011-03-01	Common Stock; $.01 Par Value	M	2274	$14.25	Acquired	14441	Direct
2011-03-01	Common Stock; $.01 Par Value	S	11446	$71.5193	Disposed	2995	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-01	Stock Option (Right to Buy)	$12.50	M	2174	Disposed	2012-12-31	Common Stock (2174)	Direct
2011-03-01	Stock Option (Right to Buy)	$12.525	M	2174	Disposed	2013-03-31	Common Stock (2174)	Direct
2011-03-01	Stock Option (Right to Buy)	$13.65	M	2550	Disposed	2013-06-30	Common Stock (2550)	Direct
2011-03-01	Stock Option (Right to Buy)	$12.66	M	1916	Disposed	2013-09-30	Common Stock (1916)	Direct
2011-03-01	Stock Option (Right to Buy)	$13.39	M	358	Disposed	2013-10-22	Common Stock (358)	Direct
2011-03-01	Stock Option (Right to Buy)	$14.25	M	2274	Disposed	2013-12-31	Common Stock (2274)	Direct

Footnotes

F1: The stock option vested as follows: 544 shares on December 31, 2002, 544 shares on September 30, 2003, and 543 shares on September 30, 2004 and 2005.

F2: The stock option vested as follows: 544 shares on March 31, 2003, 544 shares on September 30, 2003, and 543 shares on September 30, 2004 and 2005.

F3: The stock option vested as follows: 638 shares on June 30, 2003, 638 shares on Septmeber 30, 2003, and 637 shares on September 30, 2004 and 2005.

F4: The stock option vested in four equal annual installments beginning on September 30, 2003.

F5: The stock option vested as follows: 90 shares on October 22, 2003, 90 shares on September 30, 2004, and 89 shares on September 30, 2005 and 2006.

F6: The stock option vested as follows: 569 shares on December 31, 2003, 569 shares on September 30, 2004, and 568 shares on September 30, 2005 and 2006.

F7: The price reflects an average of multiple transaction sale prices ranging from $71.76 to $71.34.