Form 4: PARR CEO Monteleone Exercises Options, Sells Shares

PAR Pacific Holdings CEO William Monteleone exercised stock options and subsequently sold a portion of the acquired common stock on November 21, 2025.

Summary

• William Monteleone, President and CEO, and Director of PAR PACIFIC HOLDINGS, INC. (PARR), reported transactions on November 21, 2025.
• Exercised options to acquire 48,659 shares of common stock at an exercise price of $17.34 per share.
• Exercised options to acquire 50,625 shares of common stock at an exercise price of $17.00 per share.
• Sold 65,659 shares of common stock at a weighted average price of $42.78 per share, with prices ranging from $42.59 to $43.00.
• Sold 33,625 shares of common stock at a weighted average price of $43.87 per share, with prices ranging from $43.75 to $44.00.
• The total number of shares acquired through option exercise (99,284) equals the total number of shares sold (99,284) in these reported transactions.
• Beneficial ownership of common stock following these transactions is 423,022 shares.
• The exercise of the 48,659 share option was prompted by its upcoming expiration date and an anticipated closure of the trading window.

Sentiment

Score: 6

Explanation: The sentiment is slightly positive as the CEO realized significant gains from options, reflecting past stock appreciation. The transactions represent a planned liquidity event (cashless exercise) rather than a pure divestment of existing holdings.

Positives

• The CEO realized significant gains from exercising options and selling shares, indicating a substantial increase in the company's stock value since the options were granted.
• The exercise prices of $17.34 and $17.00 are considerably lower than the sale prices of $42.78 and $43.87, demonstrating strong stock performance and profitability for the insider.

Negatives

• The sale of a significant number of shares by a key insider (President and CEO) could be perceived negatively by some investors, although it is often for personal financial planning or diversification and in this case, was a cashless exercise.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance regarding the company's future outlook.

Management Comments

• The reporting person exercised the option due to the upcoming expiration date of the option and anticipated closure of the trading window prior to such date.

Industry Context

This insider transaction report is specific to PAR Pacific Holdings and its CEO. It does not provide broader industry trends or competitive analysis.

Stakeholder Impact

• Shareholders: May view the CEO's exercise and sale of shares as a routine liquidity event or a planned transaction (e.g., cashless exercise). The significant profit realized by the CEO from the options could be seen as a positive indicator of the company's stock performance.

Key Dates

Keywords

PAR Pacific Holdings, PARR, insider transaction, Form 4, stock options, CEO, William Monteleone, beneficial ownership, share sale, equity