SM Energy Co — Director's Dealing 2015

Jul 6, 2015

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: SM Energy Co (SM)
CIK: 0000893538
Period of Report: 2015-07-01

Reporting Person: Copeland David W (EVP, GC & Corp. Sec.)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2015-06-30	Common Stock; $.01 Par Value	J	648	$32.793	Acquired	55209	Direct
2015-07-01	Common Stock; $.01 Par Value	M	934	—	Acquired	56143	Direct
2015-07-01	Common Stock; $.01 Par Value	F	299	$46.12	Disposed	55844	Direct
2015-07-01	Common Stock; $.01 Par Value	M	834	—	Acquired	56678	Direct
2015-07-01	Common Stock; $.01 Par Value	F	267	$46.12	Disposed	56411	Direct
2015-07-01	Common Stock; $.01 Par Value	M	693	—	Acquired	57104	Direct
2015-07-01	Common Stock; $.01 Par Value	F	222	$46.12	Disposed	56882	Direct
2015-07-01	Common Stock; $.01 Par Value	M	7936	—	Acquired	64818	Direct
2015-07-01	Common Stock; $.01 Par Value	F	2539	$46.12	Disposed	62279	Direct

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2015-07-01	Restricted Stock Units	$	M	934	Disposed		Common Stock (934.0)	Direct
2015-07-01	Restricted Stock Units	$	M	834	Disposed		Common Stock (834.0)	Direct
2015-07-01	Restricted Stock Units	$	M	693	Disposed		Common Stock (693.0)	Direct
2015-07-01	Performance Share Units	$	A	7936	Acquired		Common Stock (7936.0)	Direct
2015-07-01	Performance Share Units	$	M	7936	Disposed		Common Stock (7936.0)	Direct

Footnotes

F1: The reporting person purchased 648 shares of the issuer's common stock on June 30, 2015, 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 vested in three equal annual installments beginning on July 1, 2013. The vested shares were issued to the reporting person on the vesting dates, at which time all restrictions on the vested shares lapsed.

F3: Each restricted stock unit represents a contingent right to receive one share of stock. The restricted stock unit grant vests in three equal annual installments beginning 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.

F4: Each restricted stock unit represents a contingent right to receive one share of stock. The restricted stock unit grant vests in three equal annual installments beginning on July 1, 2015. 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.

F5: On July 1, 2015, the Compensation Committee of the Board of Directors of the issuer determined that 7,936 shares of the issuer's common stock had been earned by the reporting person under the terms of a grant of performance share units (the "PSUs"), based on the achievement of specific performance criteria that were not tied solely to the market price of the issuer's common stock. The PSUs were granted to the reporting person on July 1, 2012, and represent the right to receive, upon the settlement of the PSUs, the determined number of earned shares of the issuer's common stock based on the achievement of the performance criteria over a three-year performance period (with the determined number of earned shares being within a range of zero to two times the number of PSUs granted on the award date), to the extent that the PSUs have vested under separate employment service vesting provisions. The PSUs vested in three equal annual installments beginning on July 1, 2013.