Form 4: Director Aaron Zell Acquires PARR Restricted Stock Units

PAR Pacific Holdings Director Aaron Zell reported the acquisition of 671 restricted stock units, which are set to vest on January 5, 2027.

Summary

• Aaron Zell, a Director of PAR PACIFIC HOLDINGS, INC. (PARR), acquired 671 restricted stock units (RSUs).
• Each restricted stock unit represents a contingent right to receive one share of common stock.
• The RSUs will vest in full on January 5, 2027.
• Vested shares will be delivered to Mr. Zell following the termination of his service.
• The transaction date for this acquisition was January 5, 2026.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive. The acquisition of equity by a director, even as compensation, generally signals alignment of interests with shareholders. It's a routine transaction with no negative implications.

Positives

• The acquisition of restricted stock units by a director aligns management's interests with those of shareholders, as the value of the compensation is tied to the company's stock performance.

Future Outlook

The restricted stock units are scheduled to vest on January 5, 2027, at which point they will convert into common stock, to be delivered to the reporting person following termination of service.

Industry Context

The granting of restricted stock units is a common form of equity compensation for directors and executives across various industries, including the energy and refining sector where PAR Pacific Holdings operates. It serves to incentivize long-term performance and align leadership interests with shareholder value.

Comparison to Industry Standards

• The use of Restricted Stock Units (RSUs) as a component of director compensation is a standard practice across many publicly traded companies, including those in the energy and refining industry.
• The specific number of units granted (671) would typically be determined by the company's compensation committee based on factors such as director responsibilities, market benchmarks for similar roles, and the company's overall compensation philosophy. Without further details on PAR Pacific Holdings' compensation plan or comparable director grants at peer companies like Valero Energy (VLO) or Marathon Petroleum (MPC), a direct quantitative comparison of this specific grant's size is not feasible from this filing alone.

Related Party Transactions

• The acquisition of restricted stock units by Director Aaron Zell from PAR PACIFIC HOLDINGS, INC. represents a compensation-related transaction between a related party (director) and the issuer.

Stakeholder Impact

• Shareholders: The grant of RSUs to a director can be viewed positively as it aligns the director's financial interests with the long-term performance of the company's stock, potentially incentivizing decisions that enhance shareholder value.

Next Steps

• The restricted stock units will vest on January 5, 2027.
• Vested shares will be delivered to Aaron Zell following the termination of his service.

Key Dates

Keywords

PAR Pacific Holdings, PARR, Aaron Zell, Restricted Stock Units, RSU, Insider Transaction, Director Compensation, Equity Award