SM Energy Co — Director's Dealing 2011

Mar 2, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SM Energy Co (SM)
CIK: 0000893538
Period of Report: 2010-12-31

Reporting Person: Ottoson Javan D (Exec VP & COO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-31	Common Stock; $.01 Par Value	J	268	$34.1275	Acquired	16588	Direct
2011-02-28	Common Stock; $.01 Par Value	M	1084	—	Acquired	17672	Direct
2011-02-28	Common Stock; $.01 Par Value	F	358	$72.47	Disposed	17314	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-02-28	Restricted Stock Units	$	M	1084	Disposed	2011-02-28	Common Stock (1084)	Direct

Footnotes

F1: Mr. Ottoson purchased 268 shares of the issuer's common stock on December 31, 2010, through the issuer's Employee Stock Purchase Plan.

F2: Each restricted stock unit represents a contingent right to receive one share of stock. The restricted stock units were granted on February 28, 2008, are associated with fiscal year 2007, and vest in four equal installments beginning on the grant date. On the vesting dates, shares are issued to the reporting person, at which time all restrictions on the vested shares will lapse.