Recent Updates — DINO
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.
HF Sinclair reported third-quarter 2026 net income attributable to stockholders of $2,015 million, or $11.38 per diluted share, compared to $403 million in the prior-year period. The company also announced a regular quarterly cash dividend of $0.525 per share, payable on December 2, 2026, to holders of record as of November 12, 2026. Concurrently, the Board appointed Steve Ledbetter, currently President and COO, as Chief Executive Officer and President, effective January 1, 2027. Outgoing CEO Franklin Myers will remain as Executive Chairperson until the completion of the planned separation of the Lubricants & Specialties segment. HF Sinclair is an independent energy company that produces and markets high-value light products such as gasoline, diesel fuel, jet fuel, renewable diesel, and lubricants.
HF Sinclair Corporation's Board of Directors authorized a new $1.5 billion share repurchase program effective August 26, 2026. This authorization replaces the prior program, which had approximately $11 million remaining from its initial May 2024 approval. Repurchases may be conducted via open market or privately negotiated transactions, including specific provisions for purchases from REH Advisors Inc., subject to limitations and regulatory constraints. The timing and magnitude of buybacks will depend on market conditions and corporate considerations. HF Sinclair Corporation operates in the petroleum refining industry.
On July 27, 2026, Eric Nitcher, Executive Vice President and General Counsel of HF Sinclair Corporation, notified the Board of Directors of his retirement from his executive officer role, effective July 31, 2026. Mr. Nitcher will remain an employee through the end of 2026 to facilitate an orderly transition and assist in an advisory capacity. His successor will be named at a later date. The filing states that Mr. Nitcher’s decision to retire was not the result of any disagreement with the Corporation or its Board. HF Sinclair Corporation operates in the energy industry, refining and marketing petroleum products.