HF Sinclair CEO Franklin Myers Buys $1.1 Million of Shares

Franklin Myers, chief executive and a director of HF Sinclair Corp, bought 10,000 shares of common stock on Oct. 29, according to a Form 4 filed Oct. 29. The reported transaction was priced at a weighted average of $110.80 a share, in trades from $110.72 to $110.80, for a total of $1,108,000.

The purchase was not made under a Rule 10b5-1 plan. The filing date and the trade date are the same, Oct. 29.

A Form 4 is the report that officers, directors and holders of more than 10% of a company's stock must file within two business days of a trade in its shares. The transaction carries code P, which marks an open-market or private purchase paid for by the insider, as opposed to grants, option exercises or purchases under an employee plan.

Myers' direct holding rose from 197,723 shares before the purchase to 207,723 shares after it, a 5.1% increase. The purchase was reported on a single line of common stock for HF Sinclair, which trades under the ticker DINO.

Insider activity at the company in the preceding months included Myers himself. Among open-market trades dated July 23 or later in Form 4s filed before Oct. 28, one purchase was on record: 15,000 shares bought by Myers on Aug. 11 for $1,279,500. The Oct. 29 purchase came 79 days after that one.

One open-market sale was filed in the same window. Dale Kunneman, senior vice president and chief human resources officer, sold 8,936 shares on Aug. 5 for $755,851.56. Myers' October purchase came 85 days after that sale. Myers was the only buyer and Kunneman the only seller recorded in that window.

The August purchase was for 15,000 shares and the October purchase was for 10,000 shares. In dollar terms, the August purchase was $1,279,500 and the October purchase $1,108,000.

The Oct. 29 Form 4 was filed the same day as the transaction, so no days separated the trade from the filing.