SM Energy Co — Director's Dealing 2011

May 31, 2011

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SM Energy Co (SM)
CIK: 0000893538
Period of Report: 2011-05-26

Reporting Person: SULLIVAN WILLIAM D (Director)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2011-05-26	Common Stock; $.01 Par Value	A	3517	—	Acquired	49551	Direct

Footnotes

F1: On May 26, 2011, the reporting person was granted 2,395 shares of the issuer's common stock for compensation as a board member. The reporting person was also granted 1,122 shares of the issuer's common stock as compensation for his role as Non-Executive Chairman of the Board of Directors. These shares are earned ratably during the service period pursuant to the reporting person's election and are restricted until May 23, 2013.