Holding Carol Orme - 01 Dec 2023 Form 4 Insider Report for HOLLY ENERGY PARTNERS LP

Role: Director, 10%+ Owner
Signature: REH COMPANY, By: /s/ Ross B. Matthews, Name: Ross B. Matthews, Title: Chief Operating Officer
Issuer symbol: N/A
Transactions as of: 01 Dec 2023
Net transactions value: $0
Form type: 4
Filing time: 04 Dec 2023, 17:07:22 UTC
Previous filing: 19 Oct 2023
Next filing: 20 Dec 2023
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HEP	Common Units	Disposed to Issuer		-21,000,000	-100%		0	01 Dec 2023	By REH Company	F1

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Holding Carol Orme is no longer subject to Section 16 filing requirements. Form 4 or Form 5 obligations may continue.

Explanation of Responses:

Id	Content
F1	Pursuant to that certain Agreement and Plan of Merger, dated August 15, 2023, by and among the Issuer, HF Sinclair Corporation ("DINO") and the other parties thereto, the Issuer became an indirect, wholly owned subsidiary of DINO on December 1, 2023 upon the closing of the transactions contemplated therein (the "Closing"). Upon the Closing, each outstanding common unit representing a limited partner interest in the Issuer (each, a "Partnership Common Unit") was converted into the right to receive (a) 0.315 shares of common stock, par value $0.01 per share, of DINO, with cash paid in lieu of the issuance of fractional shares, if any, and (b) $4.00 in cash, without interest. As a result, REH Company (f/k/a The Sinclair Companies) and Mrs. Holding ceased to own any Partnership Common Units effective upon the Closing.

Content

Pursuant to that certain Agreement and Plan of Merger, dated August 15, 2023, by and among the Issuer, HF Sinclair Corporation ("DINO") and the other parties thereto, the Issuer became an indirect, wholly owned subsidiary of DINO on December 1, 2023 upon the closing of the transactions contemplated therein (the "Closing"). Upon the Closing, each outstanding common unit representing a limited partner interest in the Issuer (each, a "Partnership Common Unit") was converted into the right to receive (a) 0.315 shares of common stock, par value $0.01 per share, of DINO, with cash paid in lieu of the issuance of fractional shares, if any, and (b) $4.00 in cash, without interest. As a result, REH Company (f/k/a The Sinclair Companies) and Mrs. Holding ceased to own any Partnership Common Units effective upon the Closing.

Remarks:

Mark Petersen currently serves as REH's representative on the Issuer's board of directors, and therefore REH and Mrs. Holding each constitute a "director by deputization" of the Issuer.