Form 4: HF Sinclair Corp (DINO) Director Sells 4 Million Shares in Private Transaction

Carol Orme Holding, a director and 10% owner of HF Sinclair Corp, reports the sale of 4,000,000 shares of common stock at $57.34 per share through REH Company.

Summary

• Carol Orme Holding, a director and 10% owner of HF Sinclair Corp (DINO), filed a Form 4 detailing changes in beneficial ownership.
• On February 27, 2024, REH Company, where Mrs. Holding has a relationship, sold 4,000,000 shares of HF Sinclair common stock at a price of $57.34 per share.
• The transaction was a private sale to Barclays Capital, Inc. in accordance with Rule 144 under the Securities Act of 1933.
• Following the transaction, REH Company directly owns 22,406,134 shares of HF Sinclair Corp.
• Mrs. Holding disclaims direct beneficial ownership of these shares, except to the extent of her economic interest in REH.
• Ross B. Matthews and Norman J. Szydlowski, as REH's representatives on HF Sinclair's board, are considered 'directors by deputization'.
• The filing was signed by Ross B. Matthews, as Chief Operating Officer of REH Company, and Carol Orme Holding on February 28, 2024.

Sentiment

Score: 5

Explanation: The document is a standard SEC filing reporting a transaction. It doesn't inherently convey positive or negative sentiment, but the sale of shares by a director could be interpreted neutrally to slightly negatively depending on the context.

Management Comments

• Mrs. Holding expressly disclaims direct beneficial ownership of the shares held by REH, except to the extent of her economic interest in REH.

Industry Context

This filing indicates insider selling activity, which investors often monitor for insights into management's perspective on the company's valuation and future prospects. However, in this case, the director disclaims beneficial ownership.

Stakeholder Impact

• The sale of a significant number of shares could potentially impact shareholder confidence, although the director disclaims direct beneficial ownership.

Key Dates