PBF Energy SVP Trecia Canty Exercises Options, Sells 75,000 Shares

What Happened
Trecia M. Canty, Senior Vice President and General Counsel of PBF Energy (PBF), exercised 75,000 stock options with a $28.67 strike (cost $2,150,250) on 2026-08-14 and immediately sold the 75,000 resulting shares in the open market at $74.10 for proceeds of $5,557,500. The gross difference between sale proceeds and exercise cost is about $3,407,250 (pre-tax). The filing also records the option instrument being converted/disposed as part of the exercise.

Key Details

• Transaction date: 2026-08-14 (reported on Form 4 filed 2026-08-17). Filing appears timely.
• Exercise (code M): 75,000 shares acquired at $28.67 — cost $2,150,250.
• Sale (code S): 75,000 shares sold at $74.10 — proceeds $5,557,500.
• Derivative disposition: 75,000 option units converted/disposed at $0.00 (reflects exercise of the option).
• Shares owned after transaction: Not stated in the reported Form 4.
• Footnote: Options were granted Oct 30, 2017 and were fully vested (per footnote in filing).
• No 10b5-1 plan or tax-withholding arrangements are noted in the information provided.

Context
Because the options were exercised and the resulting shares were sold the same day, this is effectively a cashless exercise followed by an immediate sale rather than a new net purchase of stock. Such transactions commonly serve to cover the exercise cost and realize gains; they are routine insider liquidity events and do not by themselves indicate a change in the insider’s view of the company.