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: Veatch Paul M (Sr. VP & Regional Manager)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-03-01	Common Stock; $.01 Par Value	M	3380	$13.65	Acquired	19059	Direct
2011-03-01	Common Stock; $.01 Par Value	M	2786	$12.66	Acquired	21845	Direct
2011-03-01	Common Stock; $.01 Par Value	M	522	$13.39	Acquired	22367	Direct
2011-03-01	Common Stock; $.01 Par Value	M	3308	$14.25	Acquired	25675	Direct
2011-03-01	Common Stock; $.01 Par Value	S	13912	$72.43	Disposed	11763	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-03-01	Stock Option (Right-To- Buy)	$13.65	M	3380	Disposed	2013-06-30	Common Stock (3380)	Direct
2011-03-01	Stock Option (Right-To- Buy)	$12.66	M	2786	Disposed	2013-09-30	Common Stock (2786)	Direct
2011-03-01	Stock Option (Right-To- Buy)	$13.39	M	522	Disposed	2013-10-22	Common Stock (522)	Direct
2011-03-01	Stock Option (Right-To- Buy)	$14.25	M	3308	Disposed	2013-12-31	Common Stock (3308)	Direct

Footnotes

F1: The stock option vested as follows: 845 shares on June 30, 2003, and 845 shares on September 30, 2003, 2004, and 2005.

F2: The stock option vested as follows: 697 shares on Septmeber 30, 2003, and 2004, and 696 shares on Septmeber 30, 2005 and 2006.

F3: The stock option vested as follows: 131 shares on October 22, 2003, 131 shares on September 30, 2004, and 130 shares on September 30, 2005 and 2006.

F4: The stock option vested as follows: 827 shares on December 31, 2003, and 827 shares on September 30, 2004, 2005, and 2006.