PBF Energy Director Thomas J. Nimbley Exercises Options, Sells Shares

What Happened Thomas J. Nimbley, a director of PBF Energy (PBF), exercised vested stock options and immediately sold the resulting shares on August 3, 2026. He exercised 100,000 options at $28.67 (cost $2,867,000) and 368,139 options at $40.65 (cost $14,964,850), for total exercise cost of $17,831,850. He sold those same 100,000 shares at $68.94 (proceeds $6,894,000) and 368,139 shares at $69.71 (proceeds $25,661,644), for total sale proceeds of $32,555,644 — a pre-tax net of about $14.72M.

Key Details

• Transaction date: August 3, 2026 (reported on Form 4 filed Aug 4, 2026).
• Exercises (code M): 100,000 @ $28.67 ($2,867,000) and 368,139 @ $40.65 ($14,964,850).
• Open-market sales (code S): 100,000 @ $68.94 ($6,894,000) and 368,139 @ $69.71 ($25,661,644).
• Additional derivative entries at $0.00 reflect conversion/disposition of the related option instruments reported in the filing.
• Footnotes: F1 = options granted Oct 30, 2017 (fully vested); F2 = options granted Oct 30, 2018 (fully vested).
• Shares owned after transaction: not specified in the provided filing excerpt.
• Filing timeliness: No late filing indicated in the provided record (filed the next day).

Context

• This is a common “exercise and sell” (cashless exercise) pattern: Nimbley exercised vested options and sold the acquired shares the same day. Such transactions realize gains on long‑held option grants but do not necessarily signal a change in insider sentiment. The filing is factual and does not state any trading plan (e.g., 10b5‑1) or reasons for the sales.