4/A: PARR Executive's Stock Holdings Shift Post-PSU Vesting

PAR Pacific Holdings EVP Richard Creamer's beneficial ownership of common stock changed following the vesting of performance share units and tax-related dispositions.

Summary

• Richard Creamer, EVP Refining and Logistics for PAR Pacific Holdings, Inc. (PARR), reported changes in his beneficial ownership of common stock.
• On February 16, 2026, 16,804 shares of common stock were acquired by Mr. Creamer due to the vesting of 10,703 performance share unit (PSU) awards.
• These PSUs were originally granted on February 16, 2023, and covered a performance cycle from January 1, 2023, to December 31, 2025.
• Concurrently with the vesting, 996 shares and an additional 5,676 shares of common stock were disposed of to cover tax withholding liabilities incurred upon the vesting.
• Following these transactions, Mr. Creamer's direct beneficial ownership of PAR Pacific Holdings common stock stands at 64,786 shares.

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive indicator, as the vesting of performance share units suggests the company met or exceeded its performance targets, aligning executive incentives with shareholder returns.

Positives

• The vesting of 10,703 performance share units indicates successful achievement of performance targets over the 2023-2025 cycle, suggesting strong company performance.
• The acquisition of 16,804 shares increases the executive's direct stake in the company, further aligning management and shareholder interests.

Negatives

• A total of 6,672 shares (996 + 5,676) were disposed of to cover tax withholding liabilities, reducing the overall number of shares retained by the executive from the vesting event.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that executive equity vesting, particularly from performance-based awards, is a common practice across the energy and refining sectors. It serves to align executive incentives with long-term company performance and shareholder value creation. The specific details of the vesting ratio (10,703 PSUs yielding 16,804 shares) suggest a performance multiplier was achieved, indicating strong operational or financial results during the 2023-2025 cycle relative to the initial grant terms.

Comparison to Industry Standards

• The structure of performance share unit awards with a multi-year performance cycle (2023-2025) is consistent with best practices in executive compensation within the energy industry, similar to programs seen at companies like Marathon Petroleum (MPC) or Valero Energy (VLO).
• The vesting of PSUs at a rate greater than 1:1 (10,703 PSUs yielding 16,804 shares) implies that PAR Pacific Holdings exceeded its performance targets, a positive indicator compared to peers who might see 1:1 or less than 1:1 vesting if targets are not fully met.
• The immediate disposition of shares for tax withholding is a standard and expected practice for equity compensation, mirroring actions taken by executives at most publicly traded companies.

Stakeholder Impact

• Shareholders: The vesting of performance-based equity awards suggests strong company performance, which is generally positive for shareholder value. Increased executive ownership also aligns interests.
• Employees: Successful achievement of performance targets may foster a positive work environment and potentially influence future incentive programs.

Key Dates

Recommendation

The filing details a routine executive equity vesting event, indicating past performance targets were met or exceeded. While positive, it does not provide new strategic or financial information that would warrant a change in investment recommendation. Investors should hold and monitor broader company performance and market conditions.

Keywords

PAR Pacific Holdings, PARR, Richard Creamer, Form 4/A, Insider Trading, Stock Vesting, Performance Share Units, Executive Compensation, Equity Ownership, Refining and Logistics