Form 4: Par Pacific Holdings Director William Pate Reports Stock Transactions

Director William Pate reports acquisition and disposal of Par Pacific Holdings stock related to vesting of restricted stock units and tax withholding.

Summary

• On May 1, 2024, William Pate, a director of Par Pacific Holdings, Inc., engaged in multiple transactions involving the company's common stock.
• These transactions included the disposal of shares to cover withholding tax liabilities upon the vesting of restricted shares.
• Specifically, 4,298 shares, 5,773 shares, 8,773 shares and 16,714 shares were disposed of at a price of $30.49 per share to cover these tax obligations.
• Pate also acquired 42,476 shares upon the vesting of performance-based restricted stock units (RSUs) at a price of $30.49 per share.
• Following these transactions, Pate beneficially owns 518,059 shares of Par Pacific common stock.
• The vesting of the performance-based RSUs was contingent upon the achievement of pre-established performance metrics approved by Par Pacific's Compensation Committee, resulting in the acquisition of 42,476 shares.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The transactions are routine and related to compensation. The vesting of RSUs suggests performance targets were met, which is mildly positive.

Positives

• The vesting of performance-based RSUs indicates that pre-established performance metrics were likely met, suggesting positive performance by Par Pacific.
• Director Pate now holds 518,059 shares of Par Pacific common stock, demonstrating a continued investment in the company's future.

Industry Context

Form 4 filings are standard practice and provide transparency into the trading activities of company insiders, which can be an indicator of management's confidence in the company's prospects. The vesting of RSUs is a common form of executive compensation in the energy sector, aligning management's interests with those of shareholders.

Comparison to Industry Standards

• Comparing Pate's holdings to those of other directors in similar-sized energy companies would provide context.
• For example, directors at companies like HF Sinclair or Valero Energy might have comparable holdings based on their tenure and compensation packages.
• The vesting of performance-based RSUs is a common practice, but the specific metrics and vesting schedules vary widely across the industry.

Stakeholder Impact

• The transactions have a minimal direct impact on stakeholders.
• The vesting of RSUs aligns management's interests with shareholders, which is generally viewed positively.

Key Dates