Michael Jennings - Dec 1, 2023 Form 4 Insider Report for HOLLY ENERGY PARTNERS LP (HEP)

Role: Chief Executive Officer, Director
Signature: Stacey L. Foland Attorney-in-Fact
Stock symbol: HEP
Transactions as of: Dec 1, 2023
Transactions value $: $0
Form type: 4
Date filed: 12/4/2023, 06:30 PM
Previous filing: Sep 26, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	HEP	Common Units	Disposed to Issuer		-26.4K	-100%		0	Dec 1, 2023	Direct	F1

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

Michael Jennings 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 the Agreement and Plan of Merger, dated as of August 15, 2023, by and among the Issuer, HF Sinclair Corporation ("HF Sinclair"), Holly Logistic Services, L.L.C. ("HLS"), HEP Logistics Holdings, L.P., Navajo Pipeline Co., L.P., and Holly Apple Holdings LLC ("Merger Sub"), on December 1, 2023, Merger Sub merged with and into the Issuer, with the Issuer surviving as an indirect, wholly owned subsidiary of HF Sinclair (the "Merger"). At the effective time of the Merger, each outstanding common unit representing a limited partner interest in the Issuer held by the Reporting Person converted into the right to receive (i) 0.315 shares of common stock, par value $0.01 per share, of HF Sinclair, with cash paid in lieu of the issuance of fractional shares, if any, and (ii) $4.00 in cash, without interest.

Content

Pursuant to the Agreement and Plan of Merger, dated as of August 15, 2023, by and among the Issuer, HF Sinclair Corporation ("HF Sinclair"), Holly Logistic Services, L.L.C. ("HLS"), HEP Logistics Holdings, L.P., Navajo Pipeline Co., L.P., and Holly Apple Holdings LLC ("Merger Sub"), on December 1, 2023, Merger Sub merged with and into the Issuer, with the Issuer surviving as an indirect, wholly owned subsidiary of HF Sinclair (the "Merger"). At the effective time of the Merger, each outstanding common unit representing a limited partner interest in the Issuer held by the Reporting Person converted into the right to receive (i) 0.315 shares of common stock, par value $0.01 per share, of HF Sinclair, with cash paid in lieu of the issuance of fractional shares, if any, and (ii) $4.00 in cash, without interest.

Remarks:

The Reporting Person was a director and Chief Executive Officer and President of HLS, the ultimate general partner of the Issuer. Exhibit List: Exhibit 24 - Power of Attorney