Nimbley Thomas J. 4

What Happened
Thomas J. Nimbley, a director of PBF Energy Inc. (PBF), exercised 50,000 stock options on March 31, 2026 at an exercise price of $28.67 per share (cost $1,433,500) and then sold 50,000 shares in an open-market transaction that day at $50.62 per share (proceeds $2,530,810). The filing also records a derivative disposition of 50,000 shares at $0 related to the option exercise. Net proceeds from the exercise-plus-sale were approximately $1,097,310. This represents an option exercise followed by an immediate sale (a routine liquidity action rather than a new cash purchase).

Key Details

• Transaction date: 2026-03-31; Form 4 filed: 2026-04-01 (timely filing).
• Exercise: 50,000 shares acquired at $28.67 each; total cash paid $1,433,500.
• Sale: 50,000 shares sold in open market at $50.62 each; total proceeds $2,530,810.
• Derivative entry: 50,000 shares disposed at $0 tied to the exercised options.
• Footnote: F1 — options were granted Oct 30, 2017 and were fully vested.
• Shares owned after the transactions: not specified in the provided filing details.

Context
This was an option exercise followed by an immediate market sale of the acquired shares — commonly done to cover exercise costs, taxes, or to take gains. The transaction is recorded as routine insider selling rather than a fresh purchase, so it should not be read as a new bullish vote of confidence in isolation.