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

What Happened

• Thomas J. Nimbley, a director of PBF Energy (PBF), exercised 260,063 stock options and then sold the same 260,063 shares in an open-market transaction on August 11, 2026.
• Exercise cost: 260,063 shares × $32.71 = $8,506,661. Sale proceeds: 260,063 shares × $67.84 = $17,643,272. Net proceeds (sale minus exercise cost): about $9,136,611.
• This sequence (exercise followed by an immediate sale) is a cashless exercise — common for option exercises where the holder sells shares to cover exercise cost and taxes.

Key Details

• Transaction date: 2026-08-11; Form 4 filed 2026-08-13 (filed within the typical two-business-day window).
• Prices and amounts:
  • Exercise (code M): 260,063 shares at $32.71 (acquired) — $8,506,661 total cost.
  • Sale (code S): 260,063 shares at $67.84 (disposed) — $17,643,272 total proceeds.
• Shares owned after transaction: not reported in the provided excerpt of the filing.
• Footnote: F1 indicates these were options granted Oct 29, 2019 and are fully vested.
• Transaction codes: M = exercise/conversion of derivative (options); S = open-market sale.

Context

• Exercises followed immediately by sales are often routine cashless exercises to realize option value or cover exercise/tax obligations; they do not necessarily indicate a change in view on the company.
• This filing involves a director (insider trading disclosure), not a 10% owner or an award grant. No 10b5-1 plan or late-filing flag was indicated in the provided data.