Form 4: PAR Pacific Director Acquires Restricted Stock Units, Aligning Interests

Director Phillip S. Davidson of PAR Pacific Holdings, Inc. acquired 795 restricted stock units, which are set to vest on July 5, 2026.

Summary

• Phillip S. Davidson, a Director of PAR PACIFIC HOLDINGS, INC. (PARR), acquired 795 restricted stock units (RSUs).
• Each restricted stock unit represents a contingent right to receive one share of common stock.
• The transaction date for this acquisition was July 5, 2025.
• The RSUs were acquired at a price of $0, which is typical for an equity grant.
• Following this transaction, Mr. Davidson beneficially owns 795 derivative securities directly.
• The restricted stock units will vest in full on July 5, 2026.
• Vested shares will be delivered to Mr. Davidson following the termination of his service.

Sentiment

Score: 7

Explanation: The acquisition of restricted stock units by a director is generally a positive signal as it aligns the director's interests with shareholders, indicating confidence in the company's future. The amount is relatively small, so the impact is moderate.

Positives

• Director Phillip S. Davidson acquired 795 restricted stock units, which aligns his financial interests with those of the shareholders.
• The acquisition of equity by a director can signal confidence in the company's future performance and strategic direction.

Negatives

• No specific negative information is present in this Form 4 filing.

Risks

• The ultimate value of the restricted stock units is contingent on the future market price of PAR Pacific Holdings, Inc.'s common stock.
• Vested shares are delivered only upon termination of service, meaning the director must remain with the company until then to receive the shares.

Future Outlook

The 795 restricted stock units granted to Director Phillip S. Davidson are scheduled to vest in full on July 5, 2026, with the underlying shares to be delivered upon termination of his service.

Industry Context

This Form 4 filing reflects a standard practice of granting equity compensation to directors in publicly traded companies within the energy or refining sector, aiming to align their long-term interests with shareholder value.

Comparison to Industry Standards

• Grants of restricted stock units to directors are a common form of non-cash compensation across various industries, including the energy sector where PAR Pacific Holdings operates.
• The specific number of units (795) would need to be compared against the total compensation packages and equity grants at comparable companies like Valero Energy Corporation (VLO), Marathon Petroleum Corporation (MPC), or Phillips 66 (PSX) to assess if it falls within typical ranges for a director's equity compensation. Without more context on total compensation or company size, a direct quantitative comparison of this specific grant is limited.

Corporate Governance

Related Party Transactions

• Director Phillip S. Davidson, a related party, was granted 795 restricted stock units by PAR Pacific Holdings, Inc. as part of his compensation package.

Stakeholder Impact

• Shareholders: The grant of restricted stock units to a director aligns their interests with shareholders, potentially encouraging decisions that enhance long-term stock value.

Next Steps

• Vesting of 795 restricted stock units on July 5, 2026.
• Delivery of vested shares to Phillip S. Davidson following termination of service.

Key Dates

Keywords

PAR Pacific Holdings, PARR, Restricted Stock Units, RSU, Insider Trading, Director Compensation, Equity Grant, SEC Form 4, Beneficial Ownership