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

What Happened
Thomas J. Nimbley, a director of PBF Energy (PBF), exercised a total of 341,008 stock options (granted Nov 9, 2020, fully vested) and promptly sold the shares in open-market transactions. The exercises occurred on 2026-08-17 (100,000 shares), 2026-08-18 (125,000 shares) and 2026-08-19 (116,008 shares) at an exercise price of $6.72 per share (total exercise cost ≈ $2,291,574). The shares were sold the same days at prices of $75.05, $74.55 and $73.73, generating combined gross proceeds of about $25,376,698.

Key Details

• Transaction dates and amounts:
  • 2026-08-17: Exercised 100,000 options @ $6.72 (acquired); sold 100,000 shares @ $75.05 — proceeds $7,505,090.
  • 2026-08-18: Exercised 125,000 options @ $6.72 (acquired); sold 125,000 shares @ $74.55 — proceeds $9,318,338.
  • 2026-08-19: Exercised 116,008 options @ $6.72 (acquired); sold 116,008 shares @ $73.73 — proceeds $8,553,270.
• Totals: 341,008 options exercised; exercise outlay ≈ $2.29M; total sale proceeds ≈ $25.38M.
• The filing reports corresponding derivative "disposed" entries at $0.00, which reflect the surrender/conversion of the options when exercised.
• Footnote: F1 — options were granted on Nov 9, 2020 and are fully vested.
• Filing & timeliness: Form 4 filed 2026-08-19 reporting transactions from 2026-08-17 to 2026-08-19; filing appears timely (Form 4 must be filed within two business days of the transaction).
• Shares owned after the transactions are not provided in the data you supplied.

Context
This pattern—exercising vested options and immediately selling the resulting shares—is commonly a cashless exercise or routine monetization to cover exercise costs, tax obligations, or diversify holdings. Such sales do not necessarily indicate a change in view about the company; purchases are generally considered more informative about insider conviction. The reporting codes: M = exercise/conversion of derivative, S = sale.