01—Abstract
Summary
Summary of the 8-K filed May 12, 2026. Cited figures are marked; the original filing is the authoritative source.
HF Sinclair Corporation disclosed in this Form 8-K, filed May 12, 2026, that Timothy Go, its Chief Executive Officer and President and a Board member, has departed the company under a Separation and Release Agreement dated May 11, 2026.
Mr. Go's last day of employment was May 11, 2026, and he resigned from the Board, effective as of that Separation Date. Mr. Go had been on voluntary leave since February 17, 2026, and Chairperson Franklin Myers had been serving as CEO and President on a temporary basis since that date. The filing states that the departure is not due to any disagreement with the Company on its operations, policies or practices.
Under the agreement, Mr. Go will receive a separation payment of $4,735,000,a paid in twelve substantially equal monthly installments over the 12 months beginning on the Separation Date, plus COBRA-based group health continuation at active employee rates for the same period, subject to his continued compliance with his ongoing obligations. The Compensation Committee also approved partial vesting of his equity awards, including 29,616 restricted stock units and conditional vesting of 163,609 performance share units, with the PSUs remaining subject to original performance criteria.
Mr. Go held 129,880 RSUs and 349,808 PSUs at the time of the agreement. The filing also states that Chief Financial Officer Atanas Atanasov has been on leave since February 24, 2026, and the Company has been in discussions about a separation agreement with him, but has not yet reached one, with no assurance that one will be reached.
02—Key points
Key Highlights
- CEO Timothy Go's employment ended May 11, 2026 under a Separation and Release Agreement, and he resigned from the Board effective as of the Separation Date.
- Mr. Go's separation payment is $4,735,000, paid in twelve monthly installments over the 12 months beginning on the Separation Date.
- Mr. Go will receive COBRA group health continuation at active employee rates for 12 months, subject to continued compliance with ongoing obligations.
- The Compensation Committee approved vesting of 29,616 RSUs and conditional vesting of 163,609 PSUs, with PSUs still subject to original performance criteria.
- Franklin Myers, Board Chairperson, had been serving as CEO and President on a temporary basis since February 17, 2026.
- The filing states the departure is not due to any disagreement with the Company on operations, policies or practices.
- CFO Atanas Atanasov has been on leave since February 24, 2026, and the Company has not yet reached a separation agreement with him.
03—Questions
Frequently Asked Questions
Why did Timothy Go leave HF Sinclair?
The filing states that the Company and Mr. Go reached a mutually agreeable arrangement, and that his departure and Board resignation are not due to any disagreement with the Company on its operations, policies or practices. He had been on voluntary leave since February 17, 2026.
What severance will Mr. Go receive?
He will receive a separation payment of $4,735,000 paid in twelve substantially equal monthly installments over the 12 months beginning on the Separation Date, plus COBRA-based group health participation at active employee rates for the same 12-month period. Entitlement is subject to his continued compliance with his Continuing Obligations, including confidentiality, non-competition and non-solicitation terms.
What happens to Mr. Go's equity awards?
Mr. Go will be entitled to vesting and settlement of 29,616 of his 129,880 RSUs and conditional vesting of 163,609 of his 349,808 PSUs. The PSUs vest only on their time-based service requirements and remain subject to the original performance criteria, with any earned PSUs settled after the performance period. Partial vesting is subject to his not revoking the general release and continued compliance with his Continuing Obligations.
Who is running HF Sinclair now?
The Board had appointed Chairperson Franklin Myers to serve as Chief Executive Officer and President on a temporary basis, effective February 17, 2026. The filing does not announce a permanent successor.
What is the status of the CFO?
Executive Vice President and CFO Atanas Atanasov has been on leave since February 24, 2026. The Company has discussed a separation agreement with him but has not reached one, and there is no assurance that an agreement will be reached.
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