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

What Happened

• Control Empresarial de Capitales S.A. de C.V., reported as a >10% holder of PBF Energy (PBF), sold a total of 812,000 shares in open-market transactions on March 20 and March 23, 2026. The filing reports the following disposals:
  • 239,600 shares at a weighted-average price shown as $48.55 — proceeds ~$11,631,933 (footnote F1: trades ranged $48.00–$49.00).
  • 100,400 shares at $49.53 — proceeds ~$4,973,003 (footnote F2: trades ranged $49.01–$49.6601).
  • 463,162 shares at $47.00 — proceeds ~$21,770,328 (footnote F3: trades ranged $46.50–$47.50).
  • 8,838 shares at $47.64 — proceeds ~$421,080 (footnote F4: trades ranged $47.51–$47.695).
• Total reported proceeds across the transactions: approximately $38.8 million. These were sales (S) — a disposition of shares rather than purchases; sales by large holders are often routine portfolio/liquidity actions.

Key Details

• Transaction dates: March 20, 2026 (two disposals totaling 340,000 shares) and March 23, 2026 (two disposals totaling 472,000 shares).
• Price info: filing lists weighted-average prices for each block; footnotes indicate each block was executed in multiple trades across the price ranges noted above.
• Shares owned after transaction: not specified in the provided excerpt of the filing.
• Notable footnotes: F1–F4 explain weighted-average pricing and ranges; F5 references Exhibit 99.1 attached to the Form 4.
• Timeliness: Form 4 was filed on March 24, 2026; the filing appears timely under the SEC’s two-business-day rule for Form 4 reporting.

Context

• This reporting person is a 10% owner (an institutional/major holder), not an individual executive; such sales commonly reflect portfolio management or liquidity needs rather than a CEO/CFO signaling. The filing provides weighted-average ranges and offers to supply trade-level detail on request (per the footnotes). Purchases typically carry stronger signals about insider confidence; this filing documents large-scale disposals.