<SEC-DOCUMENT>0001140361-21-042213.txt : 20211217
<SEC-HEADER>0001140361-21-042213.hdr.sgml : 20211217
<ACCEPTANCE-DATETIME>20211217161512
ACCESSION NUMBER:		0001140361-21-042213
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20211215
FILED AS OF DATE:		20211217
DATE AS OF CHANGE:		20211217

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			CHAI TRUST CO LLC
		CENTRAL INDEX KEY:			0001250731
		STATE OF INCORPORATION:			IL
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36550
		FILM NUMBER:		211501722

	BUSINESS ADDRESS:	
		STREET 1:		TWO NORTH RIVERSIDE PLAZA
		STREET 2:		SUITE 600
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		3124663281

	MAIL ADDRESS:	
		STREET 1:		TWO NORTH RIVERSIDE PLAZA
		STREET 2:		SUITE 600
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			EGI Investors, L.L.C.
		CENTRAL INDEX KEY:			0001526696
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36550
		FILM NUMBER:		211501721

	BUSINESS ADDRESS:	
		STREET 1:		2 NORTH RIVERSIDE PLAZA
		STREET 2:		SUITE 600
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		312-466-3301

	MAIL ADDRESS:	
		STREET 1:		2 NORTH RIVERSIDE PLAZA
		STREET 2:		SUITE 600
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Zell Credit Opportunities Master Fund, L.P.
		CENTRAL INDEX KEY:			0001469407
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-36550
		FILM NUMBER:		211501720

	BUSINESS ADDRESS:	
		STREET 1:		2 NORTH RIVERSIDE PLAZA
		STREET 2:		SUITE 600
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606
		BUSINESS PHONE:		312-454-1800

	MAIL ADDRESS:	
		STREET 1:		2 NORTH RIVERSIDE PLAZA
		STREET 2:		SUITE 600
		CITY:			CHICAGO
		STATE:			IL
		ZIP:			60606

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			PAR PACIFIC HOLDINGS, INC.
		CENTRAL INDEX KEY:			0000821483
		STANDARD INDUSTRIAL CLASSIFICATION:	CRUDE PETROLEUM & NATURAL GAS [1311]
		IRS NUMBER:				841060803
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		825 TOWN & COUNTRY LANE
		STREET 2:		SUITE 1500
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024
		BUSINESS PHONE:		(281) 899-4800

	MAIL ADDRESS:	
		STREET 1:		825 TOWN & COUNTRY LANE
		STREET 2:		SUITE 1500
		CITY:			HOUSTON
		STATE:			TX
		ZIP:			77024

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	PAR PETROLEUM CORP/CO
		DATE OF NAME CHANGE:	20120907

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	DELTA PETROLEUM CORP/CO
		DATE OF NAME CHANGE:	19920703
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>form4.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0306</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2021-12-15</periodOfReport>

    <issuer>
        <issuerCik>0000821483</issuerCik>
        <issuerName>PAR PACIFIC HOLDINGS, INC.</issuerName>
        <issuerTradingSymbol>PARR</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001250731</rptOwnerCik>
            <rptOwnerName>CHAI TRUST CO LLC</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TWO NORTH RIVERSIDE PLAZA</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 600</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60606</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001526696</rptOwnerCik>
            <rptOwnerName>EGI Investors, L.L.C.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TWO NORTH RIVERSIDE PLAZA</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 600</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60606</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001469407</rptOwnerCik>
            <rptOwnerName>Zell Credit Opportunities Master Fund, L.P.</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>TWO NORTH RIVERSIDE PLAZA</rptOwnerStreet1>
            <rptOwnerStreet2>SUITE 600</rptOwnerStreet2>
            <rptOwnerCity>CHICAGO</rptOwnerCity>
            <rptOwnerState>IL</rptOwnerState>
            <rptOwnerZipCode>60606</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isTenPercentOwner>true</isTenPercentOwner>
        </reportingOwnerRelationship>
    </reportingOwner>

    <nonDerivativeTable>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-12-15</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>46357</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>13.3551</value>
                    <footnoteId id="F3"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10973896</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeTransaction>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <transactionDate>
                <value>2021-12-16</value>
            </transactionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>S</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
                <footnoteId id="F1"/>
            </transactionCoding>
            <transactionAmounts>
                <transactionShares>
                    <value>55224</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>13.5331</value>
                    <footnoteId id="F4"/>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>D</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>10918672</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F1"/>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeTransaction>
        <nonDerivativeHolding>
            <securityTitle>
                <value>Common Stock</value>
            </securityTitle>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>1212656</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>I</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value>See footnote</value>
                    <footnoteId id="F2"/>
                    <footnoteId id="F5"/>
                </natureOfOwnership>
            </ownershipNature>
        </nonDerivativeHolding>
    </nonDerivativeTable>

    <footnotes>
        <footnote id="F1">These shares of Common Stock were sold on behalf of the Zell Credit Opportunities Master Fund, L.P. (the &quot;Master Fund&quot;), through an affiliated fund, Zell Credit Opportunities Sub Fund, LLC (&quot;Sub Fund&quot;). The shares sold represent a portion of the pro rata interest of an outside investor in the Master Fund (the &quot;Outside Investor&quot;) and are being sold in connection with the Master Fund reaching maturity and effecting an orderly liquidation and distribution of the proceeds of the sale to the Outside Investor. The Outside Investor's remaining interest represents 8,782,898 of the remaining shares of Common Stock held by the Master Fund (directly and indirectly through Sub Fund). The shares of Common Stock held by the Master Fund not attributable to the Outside Investor are not being sold, transferred or otherwise disposed of at this time.</footnote>
        <footnote id="F2">These shares of Common Stock are held directly by EGI Investors, L.L.C. (&quot;EGI Investors&quot;). The shares of Common Stock held by EGI Investors are not being sold, transferred or otherwise disposed of at this time.</footnote>
        <footnote id="F3">The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $12.94
to $13.79, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein.</footnote>
        <footnote id="F4">The price reported in Column 4 is a weighted average price. These shares of Common Stock were sold in multiple transactions at prices ranging from $13.30
to $14.04, inclusive. The Reporting Persons undertake to provide to the Issuer, any security holder of the Issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the number of shares sold at each separate price within the range set forth herein</footnote>
        <footnote id="F5">Chai Trust Company, LLC, an Illinois limited liability company, is the general partner of the Master Fund and the managing member of each of EGI Investors and Sub Fund, and in such capacities, may be deemed to indirectly beneficially own these shares of Common Stock.</footnote>
    </footnotes>

    <ownerSignature>
        <signatureName>Chai Trust Company, LLC; By: /s/ Joseph Miron, Chief Legal Officer</signatureName>
        <signatureDate>2021-12-17</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>EGI Investors L.L.C.; By: /s/ Joseph Miron, Vice President</signatureName>
        <signatureDate>2021-12-17</signatureDate>
    </ownerSignature>

    <ownerSignature>
        <signatureName>Zell Credit Opportunities Master Fund, L.P.; By: Chai Trust Company, LLC, its General Partner; By: /s/ Joseph Miron, Chief Legal Officer</signatureName>
        <signatureDate>2021-12-17</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
