Par Pacific director receives 385 RSUs

Zell Aaron reported acquisition or exercise transactions in this Form 4 filing.

Rhea-AI Filing Summary

Zell Aaron reported acquisition or exercise transactions in this Form 4 filing.

PAR PACIFIC HOLDINGS, INC. director Aaron Zell reported a compensation-related equity award. He received 385 restricted stock units, each representing a contingent right to receive one share of common stock. These restricted stock units will vest in full on April 5, 2027.

Following vesting, the underlying common shares will be delivered to Zell after his service as a director ends. After this grant, his reported holdings in this award total 385 restricted stock units, and the filing shows no open-market buying or selling activity.

Insider Trade Summary

Grant/Award: 385 shares

Grant/Award 1 txn

Insider Zell Aaron

Role Director

Type	Security	Shares	Price	Value
Grant/Award	Restricted stock units	385	$0.00	$0.00

Holdings After Transaction: Restricted stock units — 385 contracts (Direct)

Footnotes (2)

1. F1. Each restricted stock unit represents a contingent right to receive one share of common stock.
2. F2. The restricted stock unit will vest in full on April 5, 2027. Vested shares will be delivered to the reporting person following termination of service.

Key Figures

RSUs granted: 385 restricted stock units Underlying common shares: 385 shares Vesting date: April 5, 2027 +1 more

4 metrics

RSUs granted 385 restricted stock units Grant to director Aaron Zell on April 5, 2026

Underlying common shares 385 shares Each RSU represents one share of common stock

Vesting date April 5, 2027 RSUs vest in full on this date

Total RSUs after grant 385 restricted stock units Total holdings from this award following the transaction

Key Terms

Restricted stock units, contingent right, vest in full, termination of service

4 terms

Restricted stock units financial

"security_title: "Restricted stock units" and footnote describing each unit"

Restricted stock units are a type of company reward where employees are promised shares of stock, but they only fully own these shares after meeting certain conditions, like staying with the company for a set time. They matter because they can become valuable assets and are often used to motivate employees to help the company succeed.

contingent right financial

"Each restricted stock unit represents a contingent right to receive one share"

vest in full financial

"The restricted stock unit will vest in full on April 5, 2027"

termination of service financial

"Vested shares will be delivered to the reporting person following termination of service"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did Aaron Zell report for PAR Pacific (PARR)?

Aaron Zell reported receiving 385 restricted stock units as equity compensation. Each unit is tied to one share of PAR Pacific common stock, with no cash paid. The transaction reflects a grant or award, not an open-market purchase or sale of shares.

How many restricted stock units did the PAR Pacific director receive?

The director received 385 restricted stock units. Each unit represents a contingent right to one share of common stock, giving him potential future ownership. The grant increased his reported holding in this award to 385 units, all held as a direct interest.

When do Aaron Zell’s PAR Pacific restricted stock units vest?

The restricted stock units will vest in full on April 5, 2027. Vesting means the award becomes earned at that date, subject to terms. Only after vesting and later board service termination will the underlying common shares be delivered to him.

What does each PAR Pacific restricted stock unit represent in this Form 4?

Each restricted stock unit represents a contingent right to receive one share of PAR Pacific common stock. This means the holder does not own the share yet; instead, they gain actual shares later, after vesting and applicable delivery conditions are satisfied.

Did the PAR Pacific Form 4 show any stock bought or sold on the market?

The reported transaction is a grant of 385 restricted stock units, not a market trade. The filing classifies it as a grant or award acquisition, with no open-market buying or selling and no transaction price per share disclosed for this equity compensation.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/07/2026 - 07:33 AM Learn about SEC filing dates

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
Estimated average burden
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^*

Zell Aaron

(Last) (First) (Middle)

825 TOWN AND COUNTRY LANE

SUITE 1500

(Street)

HOUSTON TEXAS 77024

(City) (State) (Zip)

UNITED STATES

(Country)

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)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
04/05/2026

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

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

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

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

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	(1)	04/05/2026		A		385		(2)	(2)	Common stock	385	$0	385	D

Explanation of Responses:

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

2. The restricted stock unit will vest in full on April 5, 2027. Vested shares will be delivered to the reporting person following termination of service.

	/s/ Aaron Zell	04/07/2026
	** 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.
* Form 4: SEC 1474 (03-26)