UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of ~~Report~~report (Date of earliest event reported): November 2829, 2023

HOLLY ENERGY PARTNERS, L.P.

(Exact ~~name~~Name of Registrant as ~~specified~~Specified in its ~~charter~~Charter)

Delaware	001-32225	20-0833098
(State or other jurisdictionof incorporation)	(Commission File Number)	(I.R.S. EmployerIdentification No.)
(State or Other Jurisdictionof Incorporation)	(CommissionFile Number)	(IRS EmployerIdentification No.)

2828 N. Harwood St., Suite 1300 Dallas, TX		75201
2828 N. Harwood, Suite 1300 Dallas, TX	75201
(Address of principal executive offices)		(Zip code)
(Address of Principal Executive Offices)	(Zip Code)

~~Registrant’s telephone number, including area code:~~ (214) 871-3555

~~Not~~Registrant’s ~~applicable~~Telephone Number, including Area Code

~~(Former~~Not ~~name or former address, if changed since last report)~~Applicable

(Former Name or Former Address, If Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the ~~Securities Exchange~~ Act ~~of 1934~~:

Title of each class ~~TradingSymbol~~Trading Symbol(s) Name of each exchange on which registered Common Limited Partner Units HEP ~~NYSE~~New York Stock Exchange

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 5.07 Submission of Matters to a Vote of Security Holders.

On November 28, 2023, Holly Energy Partners, L.P., a Delaware limited partnership (“HEP” or the “Partnership”), held a virtual-only special meeting of its unitholders (the “HEP Special Meeting”) to vote on the proposals identified in the joint proxy statement/prospectus of HEP and HF Sinclair Corporation (“HF Sinclair”), prepared in connection with the Merger Agreement (as defined below), filed with the U.S. Securities and Exchange Commission as a prospectus pursuant to Rule 424(b)(3) promulgated under the Securities Act of 1933, as amended (the “Securities Act”), by HF Sinclair, and as a definitive proxy statement on Form DEFM14A pursuant to Section 14(a) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), by HEP, on October 26, 2023, which was first mailed to stockholders of HF Sinclair and unitholders of HEP on or about October 26, 2023.

As of the close of business on October 23, 2023, the record date for the HEP Special Meeting (the “HEP Record Date”), 126,440,201 common units representing a limited partner interest in HEP (each, an “HEP Common Unit”), were issued and outstanding and entitled to vote at the HEP Special Meeting. Holders of HEP Common Units were entitled to one vote per HEP Common Unit held as of the close of business on the HEP Record Date. A summary of the matters voted upon by the unitholders and the final voting results for each such matter are set forth below.

1. Proposal 1 - The Merger Proposal: To approve the Agreement and Plan of Merger (the “Merger Agreement”), dated as of August 15, 2023, by and among HF Sinclair, Navajo Pipeline Co., L.P., Holly Apple Holdings LLC (“Merger Sub”), HEP Logistics Holdings, L.P., Holly Logistic Services, L.L.C. and HEP, as the same may be amended or supplemented from time to time, and the transactions contemplated thereby, including the merger of Merger Sub with and into HEP, with HEP surviving as an indirect, wholly owned subsidiary of HF Sinclair (the “Merger Proposal”).

The Merger Proposal was approved by the requisite vote as follows:

FOR		AGAINST		ABSTAIN		BROKER NON- VOTES
107,222,089		345,251		35,468		0

2. Proposal 2 - The HEP Adjournment Proposal: To approve the adjournment of the HEP Special Meeting to a later date or dates, if necessary or appropriate, to solicit additional proxies in the event there are not sufficient votes at the time of the HEP Special Meeting to approve the Merger Proposal (the “HEP Adjournment Proposal”).

Although the HEP Adjournment Proposal was deemed not necessary because there was a quorum present and there were sufficient proxies at the time of the HEP Special Meeting to approve the Merger Proposal, it was approved by the requisite vote as follows:

FOR		AGAINST		ABSTAIN		BROKER NON- VOTES
107,235,542		309,484		57,782		0

No other matters were submitted for unitholder action at the HEP Special Meeting.

Item 7.01 Regulation FD Disclosure.

On November 28, 2023, HEP and HF Sinclair issued a joint press release announcing, among other things, the adoption of the proposal to approve the issuance of shares of HF Sinclair common stock, par value $0.01 per share, pursuant to the Merger Agreement (the “HF Sinclair Stock Issuance Proposal”) by HF Sinclair’s stockholders at the special meeting of HF Sinclair’s stockholders and the adoption of the Merger Proposal by HEP’s unitholders at the HEP Special Meeting. The press release is furnished as Exhibit 99.1.

The information set forth in this Item 7.01 and the attached Exhibit 99.1 shall not be deemed “filed” for purposes of Section 18 of the Exchange Act or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference into any registration statement or other filing under the Securities Act except as shall be expressly set forth by specific reference to such filing.

Item 8.01

Other Events.

~~With~~On November 29, 2023, HF Sinclair Corporation (“HF Sinclair”) announced the ~~approval~~expiration and final results of the ~~Merger~~previously ~~Proposal~~announced (a) private offers to exchange (collectively, the “Exchange Offers”) any and all outstanding (i) 6.375% Senior Notes due 2027 (the “2027 Notes”) and (ii) 5.000% Senior Notes due 2028 (the “2028 Notes” and, together with the 2027 Notes, the “HEP Notes”) previously issued by Holly Energy Partners, L.P. (“HEP”) and Holly Energy Finance Corp. (“Finance Corp.” and, together with HEP, the “HEP Issuers”) for new notes to be issued by HF Sinclair, ~~Stock~~with ~~Issuance~~registration ~~Proposal~~rights, ~~the~~and ~~Partnership~~cash, ~~expects~~and (b) consent solicitations (collectively, the ~~closing~~“Consent Solicitations”) on behalf of the ~~merger~~HEP ~~transactions~~Issuers ~~between~~to adopt certain proposed amendments to the indentures governing the HEP Notes (each an “HEP Indenture” and, HFcollectively, ~~Sinclair~~the “HEP Indentures”) to, ~~occur~~among onother ~~December 1~~things, ~~2023~~eliminate from each HEP Indenture, ~~subject~~as it relates to each series of HEP Notes (i) substantially all of the ~~satisfaction~~restrictive orcovenants, ~~waiver~~(ii) certain of the ~~remaining~~events ~~conditions~~which may lead to ~~close~~an “Event of Default”, (iii) the U.S. Securities and Exchange Commission (the “SEC”) reporting covenant and (iv) the requirement of HEP to offer to purchase the HEP Notes upon a change of control (collectively, the “Proposed Amendments”), commenced by HF Sinclair on October 30, 2023. The Exchange Offers and Consent Solicitations expired at 5:00 p.m., New York City time, on November 29, 2023.

The Exchange Offers and Consent Solicitations were made pursuant to the terms and subject to the conditions set forth in the confidential exchange offer memorandum and consent solicitation statement, dated October 30, 2023, as amended by the press release issued on November 13, 2023 (as amended, the “Exchange Offer Memorandum”), in a private offering exempt from, or not subject to, registration under the Securities Act of 1933, as amended, and are subject to certain conditions set forth in the Exchange Offer Memorandum, although HF Sinclair may generally waive any such condition at any time. Notwithstanding the foregoing, HF Sinclair may not waive or modify the condition that the Proposed Merger (as defined below) shall have been consummated. On November 28, 2023, HF Sinclair and HEP held the special meeting of stockholders of HF Sinclair and unitholders of HEP, respectively, to vote on matters related to the Proposed Merger, and all of the proposals set forth at each respective special meeting were approved by HF Sinclair’s stockholders and HEP’s unitholders, as applicable, as described in the Current Report on Form 8-K filed by each of HF Sinclair and HEP with the SEC on November 28, 2023. The Proposed Merger is expected to close on December 1, 2023 (the “Merger Closing Date”), subject to the satisfaction or waiver of the remaining conditions to close, each of which by their nature cannot be satisfied until the Merger Closing Date. The settlement date of the Exchange Offers and Consent Solicitations (the “Settlement Date”) is expected to occur on or about December 4, 2023.

As previously announced, as of 11:00 a.m., New York City time, on November 10, 2023, HF Sinclair, on behalf of the HEP Issuers, had received the requisite number of consents to adopt the Proposed Amendments with respect to each outstanding series of HEP Notes, and the HEP Issuers executed a supplemental indenture to each corresponding HEP Indenture implementing the applicable Proposed Amendments (each, an “HEP Amending Supplemental Indenture”). Each HEP Amending Supplemental Indenture will become operative only upon the Settlement Date.

A copy of HF Sinclair’s and HEP’s joint press release is attached as Exhibit 99.1 to this Current Report on Form 8-K and incorporated herein by reference.

This announcement does not constitute an offer to sell or purchase, or a solicitation of an offer to sell or purchase, or the solicitation of tenders or consents with respect to, any security. No offer, solicitation, purchase or sale will be made in any jurisdiction in which such an offer, solicitation, or sale would be unlawful.

Cautionary Statement Regarding Forward-Looking Statements

The statements in this Current Report on Form 8-K relating to matters that are not historical facts are “forward-looking statements” based on management’s beliefs and assumptions using currently available information and expectations as of the date hereof, are not guarantees of future performance and involve certain risks and uncertainties, including those contained in HF Sinclair’s and HEP’s filings with the SEC. Forward-looking statements use words such as “anticipate,” “project,” “will,” “expect,” “plan,” “goal,” “forecast,” “strategy,” “intend,” “should,” “would,” “could,” “believe,” “may,” and similar expressions and statements regarding HF Sinclair’s and HEP’s plans and objectives for future operations or for the proposed merger of a wholly-owned subsidiary of HF Sinclair with and into HEP, with HEP surviving as an indirect wholly owned subsidiary of HF

Sinclair (the “Proposed Merger”). Although HEP believes that the expectations reflected in these forward-looking statements are reasonable, HEP cannot assure you that HF Sinclair’s and HEP’s expectations will prove to be correct. Therefore, actual outcomes and results could materially differ from what is expressed, implied or forecast in such statements. Any differences could be caused by a number of factors, including, but not limited to, the ability of HF Sinclair or HEP to consummate the Proposed Merger; the risk that the Proposed Merger does not occur; negative effects from the pendency of the Proposed Merger; the time required to consummate the Proposed Merger; the risk that cost savings, tax benefits and any other synergies from the Proposed Merger may not be fully realized or may take longer to realize than expected; disruption from the Proposed Merger may make it more difficult to maintain relationships with customers, employees or suppliers; the possibility that the market price of HF Sinclair’s common stock will fluctuate prior to the completion of the Proposed Merger causing the value of the merger consideration of the Proposed Merger to change; the risk that certain officers and directors of HF Sinclair and HEP have interests in the Proposed Merger that are different from, or in addition, to the interests they may have as a HF Sinclair stockholder or a HEP unitholder, respectively; the possibility that financial projections by HF Sinclair may not prove to be reflective of actual future results; the focus of management time and attention on the Proposed Merger and other disruptions arising from the Proposed Merger; legal proceedings that may be instituted against HF Sinclair or HEP in connection with the Proposed Merger; HF Sinclair’s and HEP’s ability to successfully integrate the Sinclair Oil Corporation (now known as Sinclair Oil LLC) and Sinclair Transportation Company LLC businesses acquired from The Sinclair Companies (now known as REH Company) (collectively, the “Sinclair Transactions”) with their existing operations and fully realize the expected synergies of the Sinclair Transactions or on the expected timeline; the demand for and supply of crude oil and refined products, including uncertainty regarding the increasing societal expectations that companies address climate change; risks and uncertainties with respect to the actual quantities of petroleum products and crude oil shipped on HEP’s pipelines and/or terminalled, stored or throughput in HEP’s terminals and refinery processing units; the economic viability of HF Sinclair, HEP’s other customers and HEP’s joint ventures’ other customers, including any refusal or inability of HEP’s or HEP’s joint ventures’ customers or counterparties to perform their obligations under their contracts; the demand for refined petroleum products in the markets we serve; HEP’s ability to purchase operations and integrate the operations we have acquired or may acquire, including the acquired Sinclair Transportation Company LLC business; HEP’s ability to complete previously announced or contemplated acquisitions; the availability and cost of additional debt and equity financing; the possibility of temporary or permanent reductions in production or shutdowns at refineries utilizing HEP’s pipelines, terminal facilities and refinery processing units, due to reductions in demand, accidents, unexpected leaks or spills, unscheduled shutdowns, infection in the workforce, weather events, global health events, civil unrest, expropriation of assets, and other economic, diplomatic, legislative, or political events or developments, terrorism, cyberattacks, or other catastrophes or disruptions affecting HEP’s operations, terminal facilities, machinery, pipelines and other logistics assets, equipment, or information systems, or any of the foregoing of HEP’s suppliers, customers, or third-party providers or lower gross margins due to the economic impact of inflation and labor costs, and any potential asset impairments resulting from, or the failure to have adequate insurance coverage for or receive insurance recoveries from, such actions; the spread between market prices for refined products and market prices for crude oil; the possibility of constraints on the transportation of refined products or lubricant and specialty products; the effects of current and/or future governmental and environmental regulations and policies, including increases in interest rates; delay by government authorities in issuing permits necessary for HEP’s business or HEP’s capital projects; HEP’s and HEP’s joint venture partners’ ability to complete and maintain operational; HF Sinclair’s and HEP’s efficiency in carrying out and consummating construction projects, including HF Sinclair’s ability to complete announced capital projects on time and within capital guidance; HF Sinclair’s and HEP’s ability to timely obtain or maintain permits, including those necessary for operations or capital projects; the possibility of terrorist or cyberattacks and the consequences of any such attacks; uncertainty regarding the effects and duration of global hostilities, including the Israel-Gaza conflict, the Russia-Ukraine war, and any associated military campaigns which may disrupt crude oil supplies and markets for HF Sinclair’s refined products and create instability in the financial markets that could restrict HF Sinclair’s ability to raise capital; general economic conditions, including economic slowdowns caused by a local or national recession or other adverse economic condition, such as periods of increased or prolonged inflation; the impact of recent or proposed changes in the tax laws and regulations that affect master limited partnerships; the outcome of the Exchange Offers and Consent Solicitations; and other business, financial, operational and legal risks and uncertainties detailed from time to time in HF Sinclair’s and HEP’s SEC filings, whether or not related to the Exchange Offers and Consent Solicitations. The forward-looking statements speak only as of the date made and, other than as required by law, HEP undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

Item 9.01

Financial Statements and Exhibits.

(d) Exhibits:

99.1		Joint Press Release of HF Sinclair Corporation and Holly Energy Partners, L.P., dated November 28, 2023.
Exhibit No.		Description
99.1		Joint Press Release of HF Sinclair Corporation and Holly Energy Partners, L.P., dated November 29, 2023.
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

~~SIGNATURE~~3

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

		HOLLY ENERGY PARTNERS, L.P.
Date: November 29, 2023	HOLLY ENERGY PARTNERS, L.P.
		By: HEP LOGISTICS HOLDINGS, L.P.
	By:	HEP LOGISTICS HOLDINGS, L.P.
		its General Partner
		By: HOLLY LOGISTIC SERVICES, L.L.C.
	By:	HOLLY LOGISTIC SERVICES, L.L.C.
		its General Partner
Date: November 28, 2023	By:	/s/ John Harrison
	Name:	John Harrison
	Title:	Senior Vice President,
		Chief Financial Officer and Treasurer

/s/ John Harrison

John Harrison

Senior Vice President, Chief Financial Officer and Treasurer

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