Par Pacific (PARR) Director Converts 1,044 RSUs; New Grant to Vest 2026

Rhea-AI Filing Summary

Curtis Anastasio, a director of Par Pacific Holdings, Inc. (PARR), reported transactions on 10/05/2025 showing receipt of common stock and restricted stock unit activity. An aggregate 1,044 restricted stock units vested and were delivered as common stock on that date, and additional grants were recorded that will vest in full and be delivered on 10/05/2026. Reported non-derivative purchases (code J) total 602 shares at $34.32 per share across two lines and an additional grant of 728 shares at the same price, leaving the reporting person with 108,987 shares beneficially owned following the transactions. The filing is a routine insider reporting the conversion of RSUs into common shares and new restricted stock grant with a one-year vesting delivery.

Positive

• 1,044 RSUs vested and converted to common stock on 10/05/2025, increasing insider alignment with shareholders
• New restricted stock grant was recorded that vests in full and will be delivered on 10/05/2026, supporting retention
• Director holds 108,987 shares following the transactions, showing meaningful insider ownership

Negative

• None.

Insights

Corporate Governance Analyst

Director received vested RSUs and a one‑year restricted stock grant.

The filing shows an aggregate 1,044 restricted stock units vested and converted to common stock on 10/05/2025, increasing the director's direct holdings to 108,987 shares. Additionally, a restricted stock grant that "will vest in full and be delivered on 10/05/2026" is recorded, indicating standard equity compensation with time‑based vesting.

This pattern reflects routine retention and alignment practices; monitor potential future dilutive effects and scheduled vesting on 10/05/2026 for the impact on outstanding shares over the next year.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
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hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

ANASTASIO CURT

(Last) (First) (Middle)

825 TOWN AND COUNTRY LANE

SUITE 1500

(Street)

HOUSTON TX 77024

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PAR PACIFIC HOLDINGS, INC. [ PARR ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/05/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common stock	10/05/2025		J		385	A	$34.32	107,600	D
Common stock	10/05/2025		J		659	A	$34.32	108,259	D
Common stock	10/05/2025		A		728(1)	A	$34.32	108,987	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares
Restricted stock units	(2)	10/05/2025		M		385		(3)	(3)	Common stock	385	$0	385	D
Restricted stock units	(2)	10/05/2025		M		659		(3)	(3)	Common stock	659	$0	659	D

Explanation of Responses:

1. Represents a grant of restricted stock received by the reporting person. The shares will vest in full and be delivered on October 5, 2026.

2. Each restricted stock unit represents a contingent right to receive one share of common stock.

3. On October 5, 2025, an aggregate 1,044 restricted stock units vested in full and were delivered to the reporting person as common stock.

	/s/ Curtis Anastasio	10/07/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did PARR director Curtis Anastasio report on Form 4?

The director reported that 1,044 restricted stock units vested and were delivered as common stock on 10/05/2025, and a new restricted stock grant will vest and be delivered on 10/05/2026.

How many shares did the reporting person receive and at what price?

Non‑derivative entries show acquisitions totaling 602 shares (codes J) and a separate grant of 728 shares at $34.32 per share; 1,044 RSUs vested and were delivered as common stock.

What is the reporting person's beneficial ownership after these transactions?

The reporting person beneficially owns 108,987 shares following the reported transactions.

When will the newly granted restricted shares vest and be delivered?

The newly disclosed restricted stock grant is stated to vest in full and be delivered on 10/05/2026.

Do these Form 4 transactions indicate a sale by the director?

No; the Form 4 shows acquisitions and vesting conversions to common stock, not sales or disposals.