Form 4: Par Pacific Director William Pate Awarded 385 RSUs

Director William Pate received a grant of 385 restricted stock units from Par Pacific Holdings, Inc., scheduled to vest in April 2027.

Summary

• William Pate, a member of the Board of Directors, was granted 385 restricted stock units (RSUs) on April 5, 2026.
• Each restricted stock unit represents a contingent right to receive one share of Par Pacific Holdings, Inc. (PARR) common stock.
• The units are scheduled to vest in full on April 5, 2027.
• Vested shares will be delivered to the reporting person only after their service with the company has terminated.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral, routine administrative filing related to standard director compensation that does not signal a change in company fundamentals.

Positives

• Aligns director interests with long-term shareholder value through equity-based compensation.
• The requirement to hold shares until termination of service ensures long-term commitment from the director.

Negatives

• The grant size of 385 units is relatively small and unlikely to have a material impact on corporate control or market liquidity.

Risks

• The value of the compensation is entirely dependent on the future performance of the company's stock price.
• Vesting is contingent upon the director's continued service through the vesting date.

Future Outlook

The reporting person is expected to remain in service through at least April 2027 to achieve full vesting of this equity grant, with shares being issued upon their eventual departure from the board.

Management Comments

• Each restricted stock unit represents a contingent right to receive one share of common stock.
• Vested shares will be delivered to the reporting person following termination of service.

Industry Context

StockSavvy.ai notes that equity-based compensation for directors is a standard industry practice among mid-cap energy companies like Par Pacific to ensure board members maintain a vested interest in the company's market performance.

Comparison to Industry Standards

• The use of RSUs with a one-year cliff vest is consistent with compensation structures at peer refining and marketing firms such as CVR Energy or Delek US Holdings.
• The delivery of shares upon termination of service is a more conservative governance practice than immediate delivery upon vesting, further aligning with long-term institutional investor preferences.

Corporate Governance

Stakeholder Impact

• Shareholders: Positive alignment as directors are compensated in equity rather than just cash.
• Management: No direct impact on day-to-day operations.

Next Steps

• Vesting of 385 RSUs on April 5, 2027.
• Delivery of common stock shares upon the reporting person's termination of service.

Key Dates

Keywords

Par Pacific Holdings, PARR, SEC Form 4, Insider Trading, Restricted Stock Units, William Pate, Director Compensation, Houston Texas