HF Sinclair 8-K Report, Executive Changes (Jul 15, 2024)

HF Sinclair Corporation announced that its Board of Directors appointed Vivek Garg as Vice President, Chief Accounting Officer and Controller on July 12, 2024, and designated him as the Corporation's principal accounting officer.

The appointment is effective July 29, 2024, or another date as agreed, which is his expected start date. Mr. Garg, age 50, is currently Head, SEC, External Reporting and Controls, Global at Newmont Corporation, a role he has held since October 2023. He previously held accounting roles at Newmont and at Andeavor (now Marathon Petroleum Corp.), and spent 13 years in assurance and accounting advisory services at Deloitte & Touche LLP and PricewaterhouseCoopers LLP.

He is a registered Certified Public Accountant and a Canadian Chartered Professional Accountant. Under his offer letter, Mr. Garg will receive an annual base salary of $360,000^a and a one-time signing bonus of $220,000, which is subject to repayment under certain circumstances. The Compensation Committee approved an initial equity award under the Long-Term Incentive Plan with a target value of $275,000, split equally among restricted stock units, performance share units and a cash incentive award.

He will also enter into the Corporation's previously disclosed form of Change in Control Agreement and Indemnification Agreement and will be eligible for the benefits, plans, policies and programs generally offered to other employees. The filing states that there are no arrangements or understandings between Mr. Garg and any other person under which he was selected for the role, that he has no family relationship with any director or executive officer, and that there are no related-person transactions requiring disclosure under Item 404(a) of Regulation S-K.