<SEC-DOCUMENT>0000893538-21-000056.txt : 20210706
<SEC-HEADER>0000893538-21-000056.hdr.sgml : 20210706
<ACCEPTANCE-DATETIME>20210706181143
ACCESSION NUMBER:		0000893538-21-000056
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20210701
FILED AS OF DATE:		20210706
DATE AS OF CHANGE:		20210706

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Lutey Mary Ellen
		CENTRAL INDEX KEY:			0001563908

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-31539
		FILM NUMBER:		211075518

	MAIL ADDRESS:	
		STREET 1:		1775 SHERMAN STREET
		STREET 2:		SUITE 1200
		CITY:			DENVER
		STATE:			CO
		ZIP:			80203

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			SM Energy Co
		CENTRAL INDEX KEY:			0000893538
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				410518430
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		1775 SHERMAN STREET
		STREET 2:		SUITE 1200
		CITY:			DENVER
		STATE:			CO
		ZIP:			80203
		BUSINESS PHONE:		303-861-8140

	MAIL ADDRESS:	
		STREET 1:		1775 SHERMAN STREET
		STREET 2:		SUITE 1200
		CITY:			DENVER
		STATE:			CO
		ZIP:			80203

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	ST MARY LAND & EXPLORATION CO
		DATE OF NAME CHANGE:	19940228
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>wf-form4_162560948879449.xml
<DESCRIPTION>FORM 4
<TEXT>
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    <periodOfReport>2021-07-01</periodOfReport>

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    <issuer>
        <issuerCik>0000893538</issuerCik>
        <issuerName>SM Energy Co</issuerName>
        <issuerTradingSymbol>SM</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
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            <rptOwnerName>Lutey Mary Ellen</rptOwnerName>
        </reportingOwnerId>
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            <rptOwnerStreet1>1775 SHERMAN STREET</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 1200</rptOwnerStreet2>
            <rptOwnerCity>DENVER</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80203</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>0</isDirector>
            <isOfficer>1</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle>SVP - Expl., Development &amp; EHS</officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

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        <nonDerivativeTransaction>
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                <value>Common Stock, $.01 Par Value</value>
            </securityTitle>
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                <sharesOwnedFollowingTransaction>
                    <value>37229</value>
                </sharesOwnedFollowingTransaction>
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                <directOrIndirectOwnership>
                    <value>I</value>
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                <natureOfOwnership>
                    <value>By Spouse</value>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock, $.01 Par Value</value>
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                </transactionShares>
                <transactionPricePerShare>
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                </transactionPricePerShare>
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                    <value>D</value>
                </transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
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                    <value>I</value>
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                </transactionShares>
                <transactionPricePerShare>
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                <transactionAcquiredDisposedCode>
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                <sharesOwnedFollowingTransaction>
                    <value>66317</value>
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            <securityTitle>
                <value>Common Stock, $.01 Par Value</value>
            </securityTitle>
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            <transactionAmounts>
                <transactionShares>
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                </transactionShares>
                <transactionPricePerShare>
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                <transactionPricePerShare>
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                <underlyingSecurityTitle>
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                </underlyingSecurityTitle>
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            <conversionOrExercisePrice>
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                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
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            <transactionAmounts>
                <transactionShares>
                    <value>1168</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F5"/>
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                <transactionAcquiredDisposedCode>
                    <value>D</value>
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            <exerciseDate>
                <footnoteId id="F5"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F5"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, $.01 Par Value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1168.0</value>
                </underlyingSecurityShares>
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            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
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                <natureOfOwnership>
                    <value>By Spouse</value>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Stock Units</value>
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            <conversionOrExercisePrice>
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            <transactionDate>
                <value>2021-07-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>4189</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F6"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F6"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F6"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, $.01 Par Value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>4189.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>4190</value>
                </sharesOwnedFollowingTransaction>
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            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
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        </derivativeTransaction>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F7"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2021-07-01</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>M</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>1801</value>
                </transactionShares>
                <transactionPricePerShare>
                    <footnoteId id="F7"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
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            <exerciseDate>
                <footnoteId id="F7"/>
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            <expirationDate>
                <footnoteId id="F7"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Common Stock, $.01 Par Value</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>1801.0</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1801</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                    <footnoteId id="F3"/>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>By Spouse</value>
                </natureOfOwnership>
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    </derivativeTable>

    <footnotes>
        <footnote id="F1">The Reporting Person purchased 1,278 shares of the Issuer's common stock on June 30, 2021, through the Issuer's Employee Stock Purchase Plan.</footnote>
        <footnote id="F2">The Reporting Person's spouse purchased 1,224 shares of the Issuer's common stock on June 30, 2021, through the Issuer's Employee Stock Purchase Plan.</footnote>
        <footnote id="F3">The Reporting Person's spouse is also employed by the Issuer, purchases the Issuer's common stock through the Issuer's Employee Stock Purchase Plan, and is eligible to receive awards under the Issuer's equity incentive compensation plan.</footnote>
        <footnote id="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, 2019. 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.</footnote>
        <footnote id="F5">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, 2019. The vested shares will be issued to the Reporting Person's spouse on the vesting dates, at which time all restrictions on the vested shares will lapse.</footnote>
        <footnote id="F6">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, 2020. 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.</footnote>
        <footnote id="F7">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, 2020. The vested shares will be issued to the Reporting Person's spouse on the vesting dates, at which time all restrictions on the vested shares will lapse.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>Andrew T. Fiske (Attorney-in-Fact)</signatureName>
        <signatureDate>2021-07-06</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
