Form 4: PARR SVP Pitkin Receives Restricted Stock Grant

PAR Pacific Holdings SVP Terrill Pitkin was granted 8,167 shares of restricted stock, with a portion withheld for tax obligations.

Summary

• Terrill Pitkin, SVP, Planning & Commercial of PAR PACIFIC HOLDINGS, INC. (PARR), was granted 8,167 shares of common stock.
• The grant occurred on February 20, 2026, at a price of $42.75 per share.
• Following this acquisition, Pitkin's direct beneficial ownership increased to 48,632 shares.
• On February 21, 2026, 1,451 shares of common stock were disposed of (withheld by the Issuer) at $42.75 per share to cover withholding tax liability upon the vesting of restricted shares.
• After the tax withholding, Pitkin's direct beneficial ownership stands at 47,181 shares.
• The restricted shares will vest in three equal installments: one-third on March 1st after the first, second, and third anniversaries of the grant date (February 20, 2026).

Sentiment

Score: 7

Explanation: StockSavvy.ai views this as a moderately positive event, as it represents a standard executive compensation practice that aligns management's financial interests with the company's long-term performance and shareholder returns.

Positives

• The grant of 8,167 shares of restricted stock to a Senior Vice President aligns management's interests with long-term shareholder value.
• The transaction reflects ongoing executive compensation practices, which can incentivize performance and retention.

Negatives

• 1,451 shares were withheld by the Issuer to cover tax liabilities, which is a standard procedure but reduces the immediate net shares received by the executive.

Future Outlook

The filing details a vesting schedule for the restricted stock, indicating future share ownership changes for the reporting person on March 1st of 2027, 2028, and 2029.

Industry Context

StockSavvy.ai notes that the grant of restricted stock to a Senior Vice President is a common form of executive compensation within the energy and refining industry, designed to align executive incentives with the long-term performance and shareholder value of the company.

Stakeholder Impact

• Shareholders: The grant of restricted stock to a key executive helps align management's long-term interests with those of shareholders, potentially fostering sustained company performance.

Next Steps

• One-third of the granted restricted shares will vest on March 1, 2027.
• One-third of the granted restricted shares will vest on March 1, 2028.
• One-third of the granted restricted shares will vest on March 1, 2029.

Key Dates

Recommendation

This Form 4 filing details a routine executive compensation event involving a restricted stock grant and subsequent tax withholding. It does not present new material information that would fundamentally alter the company's financial outlook or strategic direction, thus a 'hold' recommendation is appropriate for seasoned investors.

Keywords

PARR, restricted stock, executive compensation, insider transaction, Form 4, Terrill Pitkin, stock grant, beneficial ownership