PBF Energy SVP Trecia Canty Exercises Options, Sells 223,467 Shares

What Happened

• Trecia M. Canty, Senior Vice President and General Counsel of PBF Energy (PBF), exercised vested stock options and immediately sold the resulting shares (exercise + sale/cashless exercise) on August 12–13, 2026. She acquired a total of 223,467 shares through option exercises (139,374; 946; 83,147) and disposed of the same 223,467 shares in open-market sales.
• Sales proceeds reported: $9,896,056 (139,374 shares @ $71.00 on 8/12), $67,166 (946 shares @ $71.00 on 8/12), and $5,903,437 (83,147 shares @ $71.00 on 8/13) — total disposed proceeds ≈ $15,866,659. Exercise cash outlays reported: $5,665,553 (139,374 @ $40.65), $30,944 (946 @ $32.71), and $2,719,738 (83,147 @ $32.71) — total ≈ $8,416,235.
• The Form 4 also shows corresponding derivative disposals at $0 (these reflect the option instruments being converted/cancelled upon exercise).

Key Details

• Transaction dates & prices:
  • 2026-08-12: exercised 139,374 options @ $40.65 (acquired) and sold 139,374 shares @ $71.00.
  • 2026-08-12: exercised 946 options @ $32.71 (acquired) and sold 946 shares @ $71.00.
  • 2026-08-13: exercised 83,147 options @ $32.71 (acquired) and sold 83,147 shares @ $71.00.
• Total shares exercised and sold: 223,467; total sale proceeds ≈ $15.87M; total exercise cost ≈ $8.42M.
• Shares owned after transaction: not specified in the provided filing (the Form 4 excerpt did not state beneficial ownership post-transaction).
• Footnotes: F1 = options granted Oct 30, 2018 (fully vested). F2 = options granted Oct 29, 2019 (fully vested).
• Filing: Form 4 filed 2026-08-14 for transactions on Aug 12–13, 2026 — appears to be filed within the normal Form 4 timing window (timely).

Context

• These transactions are option exercises followed by immediate open-market sales (a common "exercise-and-sell" or cashless-exercise pattern). That typically reflects exercising vested options and liquidating shares to cover exercise cost, taxes, or to diversify; it is a routine insider transaction and not, by itself, a direct buy signal.
• The derivative "disposed at $0" line items on the Form 4 represent the option instruments being converted/cancelled on exercise, not a separate cash sale.