Form 4: HF Sinclair Director R. Craig Knocke Receives Equity Grant

HF Sinclair Director R. Craig Knocke was granted 2,943 restricted stock units, increasing his beneficial ownership to 33,353 shares.

Summary

• Director R. Craig Knocke acquired 2,943 shares of HF Sinclair Corp common stock on November 12, 2025.
• The acquisition was a grant of restricted stock units (RSUs) under the HF Sinclair Corporation Amended and Restated 2020 Long Term Incentive Plan.
• These RSUs were granted at a price of $0 per share.
• Following this transaction, R. Craig Knocke beneficially owns 33,353 shares of common stock directly.
• The restrictions on these RSUs will lapse on December 1, 2026, or the first business day thereafter, provided Knocke serves on the board from the grant date until the vesting date.
• Unless settlement is deferred, the vested restricted stock units will be paid in the form of the Issuer's common stock within 30 days following the vesting date.

Sentiment

Score: 7

Explanation: The grant of restricted stock units to a director is a positive sign of aligning management interests with shareholders, promoting long-term commitment. It's a routine compensation event and does not indicate any significant change in company prospects.

Positives

• Director R. Craig Knocke received an equity grant, further aligning his interests with those of shareholders.
• The grant is part of the company's long-term incentive plan, indicating a commitment to executive and director retention and performance.

Risks

• The vesting of the 2,943 restricted stock units is contingent on R. Craig Knocke's continued service on the board of directors of HF Sinclair Corporation until December 1, 2026.

Future Outlook

The filing indicates future vesting of restricted stock units on December 1, 2026, contingent on continued board service, which aligns director incentives with the company's long-term performance and shareholder value creation.

Industry Context

This is a routine insider transaction (equity grant) for a director, which is a common practice in publicly traded companies across various sectors, including the energy industry where HF Sinclair operates. Such grants are standard mechanisms to align the interests of company leadership with those of shareholders.

Comparison to Industry Standards

• Equity grants to directors, such as the restricted stock units received by R. Craig Knocke, are a standard component of compensation packages across industries, including the refining and marketing sector.
• The structure, including a vesting period contingent on continued service, is typical for long-term incentive plans designed to promote retention and align director incentives with sustained company performance, comparable to practices at peers like Valero Energy Corporation or Marathon Petroleum Corporation.

Corporate Governance

Related Party Transactions

• The grant of restricted stock units to R. Craig Knocke, a director, constitutes a related party transaction as part of his compensation package.

Stakeholder Impact

• Shareholders: The equity grant further aligns the director's financial interests with long-term shareholder value, potentially encouraging decisions that benefit the company's stock performance.
• Management/Directors: The grant serves as an incentive for R. Craig Knocke to continue his service on the board, contributing to board stability and experience.

Next Steps

• R. Craig Knocke is expected to continue serving on the board of directors until December 1, 2026, for the restricted stock units to vest.
• Vested restricted stock units will be paid in common stock within 30 days following the vesting date, unless deferred.

Key Dates

Recommendation

This Form 4 reports a routine equity grant to a director, which is a standard compensation practice and generally viewed positively for aligning interests. However, it does not contain information that would fundamentally alter the investment thesis for HF Sinclair, hence a 'hold' recommendation is appropriate based solely on this filing.

Keywords

HF Sinclair, DINO, R. Craig Knocke, Director, Restricted Stock Units, RSU, Equity Grant, Insider Transaction, Form 4, Long Term Incentive Plan, Corporate Governance