Control Empresarial de Capitales S.A. de C.V. 4

What Happened
Control Empresarial de Capitales S.A. de C.V., a reported 10% owner of PBF Energy Inc. (PBF), sold a total of 1,152,000 PBF shares in open-market transactions on March 18–19, 2026 for aggregate proceeds of approximately $53,440,561. The sales broke down as: 612,000 shares at a weighted average $45.86 (≈ $28,063,382), 488,000 shares at a weighted average $46.66 (≈ $22,767,689), and 52,000 shares at a weighted average $50.18 (≈ $2,609,490). These are outright sales (transaction code S) rather than purchases or option exercises.

Key Details

• Transaction dates: Mar 18, 2026 (two lots) and Mar 19, 2026 (one lot).
• Reported weighted-average prices and ranges per footnotes:
  • 612,000 shares — $45.86 (range: $45.50–$46.30) (F1)
  • 488,000 shares — $46.66 (range: $46.50–$46.92) (F2)
  • 52,000 shares — $50.18 (range: $49.70–$50.43) (F3)
    Reporting persons offer to provide per-share price details on request; Exhibit 99.1 is incorporated by reference (F4).
• Shares owned after the transactions: not stated in the filing.
• Filing date: Form 4 filed on 2026-03-20; timing appears consistent with routine reporting (not flagged as late).
• Insider status: this is a 10% owner (institutional holder), not an executive/director trade.

Context: Sales by a large shareholder can reflect portfolio rebalancing, liquidity needs, or other institutional reasons and are not the same signal as insider purchases by executives. Sales are generally less informative about future company performance than purchases; the filing provides weighted-average ranges and an exhibit for further detail if needed.