Form 4: HF Sinclair Director Carol Orme Holding Reports Sale of Shares by REH Company

Carol Orme Holding, a director of HF Sinclair Corp, reports the sale of 1,348,435 shares of common stock by REH Company in a private transaction.

Summary

• On May 14, 2024, REH Company sold 1,348,435 shares of HF Sinclair Corp (DINO) common stock at a price of $55.62 per share.
• The transaction was a private sale to the Issuer (HF Sinclair Corp) pursuant to a Stock Purchase Agreement.
• Following the transaction, REH Company beneficially owns 16,057,699 shares of HF Sinclair Corp.
• Carol Orme Holding, as a director of HF Sinclair and due to her relationship with REH Company, may be deemed to beneficially own these shares, but she disclaims direct ownership and pecuniary interest.
• Ross B. Matthews and Norman J. Szydlowski, as REH's representatives on HF Sinclair's board, are considered 'directors by deputization'.

Sentiment

Score: 5

Explanation: The document is a standard regulatory filing reporting a transaction. The sentiment is neutral as it simply discloses information without expressing any particular opinion or outlook.

Management Comments

• Mrs. Holding, however, does not intend ever to own such shares directly for investment purposes in the future and expressly disclaims such beneficial ownership, and all pecuniary interest except to the extent of her economic interest in REH, to the maximum extent permitted by law.

Industry Context

This transaction represents a significant sale of shares by a major shareholder, REH Company, to the issuer, HF Sinclair. Such transactions can be undertaken for various reasons, including corporate treasury management or strategic realignment of ownership.

Related Party Transactions

• The sale of shares by REH Company to HF Sinclair Corp, the issuer, constitutes a related party transaction.

Stakeholder Impact

• The sale of a significant number of shares could potentially impact shareholder value, depending on market perception and the reasons behind the transaction.

Key Dates