Control Empresarial de Capitales S.A. de C.V. 4

What Happened
Control Empresarial de Capitales S.A. de C.V., listed as a 10% owner of PBF Energy (PBF), sold a total of 1,108,100 PBF shares in open‑market transactions on March 4–5, 2026. The sales were reported on a Form 4 filed March 6, 2026, and generated aggregate proceeds of about $48.04 million. Individual reported transactions:

• 341,697 shares @ $41.64 = $14,228,468 (3/4/2026)
• 280,964 shares @ $42.32 = $11,890,762 (3/4/2026)
• 117,339 shares @ $43.08 = $5,054,495 (3/4/2026)
• 163,100 shares @ $44.86 = $7,317,449 (3/4/2026)
• 205,000 shares @ $46.57 = $9,546,215 (3/5/2026)
  These are sales (S) — routine dispositions rather than purchases.

Key Details

• Transaction dates: March 4 and March 5, 2026; Form 4 filed March 6, 2026 (appears timely).
• Per‑trade prices: reported as weighted averages; footnotes indicate the trades occurred across price ranges (see next bullet).
• Footnotes: F1–F5 specify the weighted‑average price ranges for multiple executions (approx. $41.00–$46.72 across the batches). F6 refers to an attached Exhibit 99.1 incorporated by reference.
• Shares owned after transaction: not stated in the provided summary of the filing.
• Transaction code: S = Sale.

Context

• This filing reports activity by a 10% owner (institutional/control holder), not necessarily an executive officer — such institutional sales can reflect liquidity or portfolio decisions rather than management view.
• Sales are generally less informative about company prospects than purchases; the filing provides price ranges and an exhibit for more detail if requested.