Canty Trecia M 4

What Happened

• Trecia Canty, SVP and General Counsel of PBF Energy (PBF), exercised 62,999 stock options and immediately sold the resulting 62,999 shares in an open‑market transaction on March 24, 2026. The options were exercised at $21.38 per share for a total exercise cost of $1,346,919, and the shares were sold at $50.00 per share for total proceeds of $3,149,950. The transaction produced gross proceeds of about $1,803,031 before taxes and fees.
• This pattern (exercise + immediate sale) is a cashless exercise/liquidity event rather than an outright buy to hold.

Key Details

• Transaction date: March 24, 2026 (reported on Form 4 filed March 26, 2026).
• Exercise (derivative acquisition): 62,999 shares @ $21.38 = $1,346,919.
• Derivative disposed (option cancelled on exercise): 62,999 @ $0.00 (represents surrender/cancellation of the options upon exercise).
• Open‑market sale: 62,999 shares @ $50.00 = $3,149,950.
• Approximate net proceeds (sale proceeds minus exercise cost): ~$1,803,031 (before taxes, brokerage, or withholding).
• Shares owned after transaction: not specified in the provided filing extract.
• Footnote: F1 — options were granted October 25, 2016 and are fully vested.
• Filing: Form 4 filed March 26, 2026 reporting the March 24 transactions (filing timeliness not flagged in this summary).

Context

• When an insider exercises vested options and immediately sells the shares, it typically reflects option liquidity (monetizing compensation) rather than a purchase signal; it does not necessarily indicate a view on company fundamentals.
• The derivative disposal line at $0.00 represents surrender/cancellation of the exercised options.
• No 10b5‑1 plan, gift, or other special instruction was noted in the provided details.