Davis Paul T 4

What Happened

• Paul T. Davis, Senior Vice President of PBF Energy (PBF), exercised 50,000 stock options (grant fully vested) and simultaneously sold 50,000 shares on March 4, 2026. He paid $28.67 per share to exercise (total cost $1,433,500) and sold the resulting shares on the open market at $44.80 per share for gross proceeds of $2,239,750. The difference between sale proceeds and exercise cost was $806,250 (gross, before taxes/fees).
• The filing also reports the corresponding disposition of 50,000 option units at $0.00, which reflects surrender/termination of the exercised options as part of the transaction.

Key Details

• Transaction date: 2026-03-04
• Exercise: 50,000 shares at $28.67 — total cost $1,433,500
• Sale: 50,000 shares at $44.80 — gross proceeds $2,239,750
• Net difference (gross): $806,250 (sale proceeds minus exercise cost)
• Shares owned after transaction: Not disclosed in the provided filing
• Footnote: F1 — options were granted October 30, 2017 and are fully vested
• Filing timeliness: Reported on Form 4 filed 2026-03-06 for a 2026-03-04 transaction (appears timely)

Context

• This is an option exercise combined with an immediate sale (a cashless exercise pattern), common for executives converting vested options into cash. Such sales are typically liquidity events and do not, by themselves, indicate a change in view about the company’s prospects.
• No 10b5-1 plan, tax-withholding detail, or late-filing flag is disclosed in the provided details.