HF Sinclair Corporation entered into a Stock Purchase Agreement to repurchase 2,350,000 shares of common stock from REH Advisors Inc. at $109.37 per share, totaling approximately $257 million. The transaction is expected to close around November 3, 2026, and will be funded with cash on hand. This repurchase reduces the REH Parties' beneficial ownership below the 15% threshold required to designate a board member under their Stockholders Agreement, potentially triggering the resignation of the REH Designee from the Board if they remain below this level by January 13, 2027. The purchase is part of HF Sinclair's $1.5 billion share repurchase program authorized in August 2026; following this transaction, approximately $734 million remains under the authorization. HF Sinclair Corporation operates as an independent petroleum refining and marketing company.
