Lucey Matthew C. 4

What Happened

• Matthew C. Lucey, CEO, President and Director of PBF Energy (PBF), exercised 167,298 stock options on March 26, 2026. The exercise price was $40.65 per share (total cash paid $6,800,664).
• To cover taxes/exercise obligations, 150,295 shares were withheld/sold at $51.33 per share (value $7,714,642). After withholding, Lucey received a net 17,003 shares.
• This filing reports an option exercise (code M) with tax/exercise withholding (code F), not an open-market directional purchase or sale of additional shares.

Key Details

• Transaction date: 2026-03-26; Form 4 filed: 2026-03-27 (timely).
• Options exercised: 167,298 shares at $40.65 ($6,800,664).
• Shares withheld/sold for tax or exercise obligations: 150,295 shares at $51.33 ($7,714,642).
• Net shares issued to insider: 17,003.
• Footnote: F1—options were granted Oct 30, 2018 and are fully vested.
• Shares owned after transaction: not specified in the filing.
• Transaction codes: M = option exercise, F = payment of exercise price/tax withholding.

Context

• This was an option exercise with an automatic withholding/sale to cover taxes and/or exercise costs (a common cashless/net-settlement practice). Such transactions reflect exercising previously granted compensation, not an open-market endorsement or divestment decision by itself.