SM Energy(SM) - 2025 Q4 - Annual Report

1 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K Delaware 41-0518430 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 1700 Lincoln Street, Suite 3200, Denver, Colorado 80203 (Address of principal executive offices) (Zip Code) ☑ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended December 31, 2025 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securit ...