HF Sinclair Corporation
05/19/2026 | Press release | Distributed by Public on 05/19/2026 14:46
Material Agreement (Form 8-K)
Item 1.01 Entry into a Material Definitive Agreement.
HF Sinclair Corporation (the "Company") entered into a Stock Purchase Agreement, dated May 18, 2026 (the "Stock Purchase Agreement"), with REH Advisors Inc. (the "Selling Stockholder" or "REH") (now the parent company of REH Company, LLC (formerly known as The Sinclair Companies)), pursuant to which the Company agreed to repurchase from the Selling Stockholder 1,455,180 shares of the Company's outstanding common stock, par value $0.01 per share (the "Common Stock"), in a privately negotiated transaction. The price per share to be paid by the Company under the Stock Purchase Agreement is $68.72 per share resulting in an aggregate purchase price of $100 million. The purchase price will be funded with cash on hand. The Stock Purchase Agreement contains customary representations, warranties and covenants of the parties. The shares to be repurchased under the Stock Purchase Agreement will be held as treasury stock by the Company. This share repurchase is the twenty-first privately negotiated transaction between the Company and the Selling Stockholder.
The share repurchase described above will be made pursuant to the Company's previously disclosed $1 billion share repurchase program authorized by the Board of Directors of the Company on May 7, 2024 (the "Share Repurchase Program") and is expected to be completed on or around May 21, 2026. To date, the Company has repurchased $717 million in Common Stock under the Company's Share Repurchase Program, which is inclusive of the share repurchase described above. The timing and amount of future share repurchases under the Company's Share Repurchase Program, including any additional repurchases from REH, will depend on market conditions and corporate, tax, regulatory and other relevant considerations. The Share Repurchase Program may be discontinued at any time by the Board of Directors of the Company.
The foregoing description of the Stock Purchase Agreement does not purport to be complete and is qualified in its entirety by reference to the Stock Purchase Agreement, a copy of which is filed herewith as Exhibit 10.1 and is incorporated by reference herein. For more information on the Selling Stockholder's relationship to the Company, please refer to the Company's Definitive Proxy Statement on Schedule 14A filed with the Securities and Exchange Commission (the "SEC") on March 31, 2026.
HF Sinclair Corporation published this content on May 19, 2026, and is solely responsible for the information contained herein. Distributed via EDGAR on May 19, 2026 at 20:46 UTC. If you believe the information included in the content is inaccurate or outdated and requires editing or removal, please contact us at [email protected]