HF Sinclair Corp 8-K

What Happened

• HF Sinclair Corporation announced on July 6, 2026 effective July 6 that the Board appointed Steven Ledbetter as President and Chief Operating Officer and Valerie Pompa as President, Growth, Technology and Transformation. Franklin Myers ceased to serve as President and will continue as Chief Executive Officer. The company issued a press release on July 8, 2026 (Exhibit 99.1).

Key Details

• Effective date: July 6, 2026; press release dated July 8, 2026.
• Steven Ledbetter (age 51) was EVP, Commercial since March 2023; his 2026 base salary increased from $590,000 to $750,000 and his annual incentive target rose from 75% to 100% of base pay (maximum from 150% to 200%); increases apply pro rata for the remainder of the 2026 performance period.
• Valerie Pompa (age 58) was EVP, Operations since March 2023; her 2026 base salary increased from $650,000 to $700,000 and her annual incentive target rose from 80% to 90% of base pay (maximum from 160% to 180%); increases apply pro rata for the remainder of the 2026 performance period.
• Both executives remain covered by the company’s Severance Pay Plan, existing Change in Control and Indemnification agreements, and are eligible for standard employee benefit plans (including the nonqualified deferred compensation plan). The filing reports no related-party or other disclosureable transactions.

Why It Matters

• Leadership changes and the related pay increases are material to investors because they affect executive oversight of operations and growth initiatives and change near-term compensation expense. Retaining Myers as CEO maintains continuity at the top while promoting executives with operational and commercial experience. The filing provides concrete details on pay and governance protections (severance, change-in-control, indemnification), which investors often watch for alignment of management incentives and potential costs.