SM Energy Co — Director's Dealing 2011

Jul 6, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SM Energy Co (SM)
CIK: 0000893538
Period of Report: 2011-07-01

Reporting Person: PURSELL A WADE (EVP & CFO)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2010-12-31	Common Stock; $.01 Par Value	J	162	$34.1275	Acquired	20603	Direct
2011-03-07	Common Stock; $.01 Par Value	G	1450	—	Disposed	19153	Direct
2011-07-01	Common Stock; $.01 Par Value	M	755	—	Acquired	19908	Direct
2011-07-01	Common Stock; $.01 Par Value	F	235	$73.82	Disposed	19673	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2011-07-01	Restricted Stock Units	$	M	755	Disposed	2011-07-01	Common Stock (755)	Direct

Footnotes

F1: The reporting person purchased 162 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 unit grant vests over a three year period, with 1/7th vesting on July 1, 2011, 2/7th vesting on July 1, 2012, and 4/7th vesting on July 1, 2013. The vested shares will be issued to the reporting person on the vesting dates, at which time all restrictions on the vested shares will lapse.