Form 4: PARR Director Patricia Martinez Granted 671 RSUs

PAR Pacific Holdings Director Patricia Martinez received a grant of 671 restricted stock units, vesting in January 2027.

Summary

• Patricia Martinez, a Director of PAR PACIFIC HOLDINGS, INC. (PARR), was granted 671 restricted stock units (RSUs).
• The transaction occurred on January 5, 2026, and was reported on January 7, 2026.
• 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 Ms. Martinez following the termination of her service.
• The acquisition was made pursuant to a Rule 10b5-1(c) plan, indicating a pre-arranged transaction.

Sentiment

Score: 6

Explanation: Neutral to slightly positive. It's a routine compensation event that aligns director interests with shareholders, but doesn't indicate significant operational news.

Positives

• The grant of restricted stock units aligns the director's interests with long-term shareholder value.
• The transaction was made under a Rule 10b5-1(c) plan, indicating a pre-planned, non-discretionary transaction.

Future Outlook

The restricted stock units are scheduled to vest in full on January 5, 2027, with shares delivered upon termination of service, indicating a future equity stake for the director.

Industry Context

This RSU grant is a common form of executive and director compensation in the energy and refining industry, aiming to align leadership incentives with long-term company performance and shareholder interests. It reflects standard corporate governance practices for retaining and motivating key personnel.

Comparison to Industry Standards

• The grant of restricted stock units to a director is a standard practice across publicly traded companies, including those in the energy sector like ExxonMobil, Chevron, or Valero, where equity compensation is used to incentivize long-term performance and retention.
• The specific number of units (671) is relatively small, suggesting it might be part of an annual retainer or a specific committee compensation, which is also common in the industry.

Corporate Governance

Related Party Transactions

• The RSU grant is a transaction between the company and a director, which is a related party transaction, but it is a standard compensation practice.

Stakeholder Impact

• Shareholders: Potential positive impact due to increased alignment of director's interests with long-term company performance.

Next Steps

• Vesting of 671 restricted stock units on January 5, 2027.
• Delivery of vested shares to Patricia Martinez following termination of service.

Key Dates

Recommendation

This Form 4 filing reports a routine equity grant to a director and does not contain information that would fundamentally alter the investment thesis for PAR PACIFIC HOLDINGS, INC. It's a standard compensation event that aligns director interests with shareholders, but does not provide new operational or financial data to warrant a change in recommendation.

Keywords

PAR Pacific Holdings, PARR, Patricia Martinez, Restricted Stock Units, RSU, Insider Transaction, Director Compensation, Equity Grant, Form 4, SEC Filing