SM Energy Co — Director's Dealing 2012

Jul 5, 2012

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SM Energy Co (SM)
CIK: 0000893538
Period of Report: 2012-07-02

Reporting Person: Newton Lehman E III (Sr. VP and Regional Manager)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2012-06-29	Common Stock; $.01 Par Value	J	341	$41.7435	Acquired	13815	Direct
2012-07-02	Common Stock; $.01 Par Value	M	656	—	Acquired	14471	Direct
2012-07-02	Common Stock; $.01 Par Value	F	174	$48.11	Disposed	14297	Direct
2012-07-02	Common Stock; $.01 Par Value	M	191	—	Acquired	14488	Direct
2012-07-02	Common Stock; $.01 Par Value	F	52	$48.11	Disposed	14436	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2012-07-02	Restricted Stock Units	$	M	656	Disposed	2012-07-02	Common Stock (656)	Direct
2012-07-02	Restricted Stock Units	$	M	191	Disposed	2012-07-02	Common Stock (191)	Direct

Footnotes

F1: The reporting person purchased 341 shares of the issuer's common stock on June 29, 2012, 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 2, 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.

F3: 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 2, 2012, 2/7th vesting on July 1, 2013, and 4/7th vesting on July 1, 2014. 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.