SM Energy Co — Director's Dealing 2012

Aug 3, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SM Energy Co (SM)
CIK: 0000893538
Period of Report: 2012-08-01

Reporting Person: BEST ANTHONY JAMES (Director, CEO & President)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-08-01	Common Stock, $.01 Par Value	M	105000	—	Acquired	180326	Direct
2012-08-01	Common Stock, $.01 Par Value	F	43136	$47.30	Disposed	137190	Direct
2012-08-01	Common Stock, $.01 Par Value	M	9999	—	Acquired	147189	Direct
2012-08-01	Common Stock, $.01 Par Value	F	4108	$47.30	Disposed	143081	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-08-01	Performance Share Award	$	M	105000	Disposed	2012-08-01	Common Stock (105000)	Direct
2012-08-01	Restricted Stock Units	$	M	9999	Disposed	2012-08-01	Common Stock (9999)	Direct

Footnotes

F1: On August 1, 2012, the issuer issued 105,000 shares of common stock to the reporting person to settle a grant of performance share awards (the "PSAs") reported in a Form 4 for the reporting person filed on July 24, 2012. The PSAs represented the right to receive, upon the settlement of the PSAs, the determined number of earned shares of the issuer's common stock based on the achievement of performance criteria, to the extent that the PSAs had vested under separate employment service vesting provisions. The PSAs became fully vested and were settled in accordance with their terms on 08/01/2012.

F2: Each restricted stock unit represents a contingent right to receive one share of stock. The restricted stock unit grants vested as follows: 2,501 shares on 8/1/10, 5,000 shares on 8/1/11 and 9,999 shares on 8/1/12. The vested shares were issued to the reporting person on the vesting dates, at which time all restrictions on the vested shares lapsed.