PBF Energy SVP Paul T. Davis Exercises Options and Sells 63,295 Shares

What Happened Paul T. Davis, Senior Vice President of PBF Energy (PBF), exercised 63,295 stock options (granted Nov 18, 2021, fully vested) and immediately sold the resulting 63,295 shares on Aug 12, 2026. The options were exercised at $13.91 per share for a cash cost of $880,433, and the shares were sold in an open-market transaction at $70.40 per share for gross proceeds of $4,456,006.

Key Details

• Transaction date: 2026-08-12 (reported on Form 4 filed 2026-08-13).
• Exercise: 63,295 options exercised at $13.91 — total exercise cost $880,433 (transaction code M).
• Sale: 63,295 shares sold in the open market at $70.40 — gross proceeds $4,456,006 (transaction code S).
• Derivative disposition entry (M, $0.00) reflects conversion of the options into shares that were sold the same day.
• Shares owned after the transaction: not provided in the supplied data.
• Footnote: Options were granted Nov 18, 2021 and were fully vested (Footnote F1).
• Filing timeliness: Report appears timely (transaction dated 8/12, Form 4 filed 8/13).

Context

• This was effectively a cashless exercise: options were exercised and the shares sold immediately, a common way for insiders to realize gains from vested options. Such sales are often routine and do not by themselves indicate management sentiment about the company.
• No 10b5-1 plan, tax-withholding detail, or gift notation was provided in the supplied filing information.