Nimbley Thomas J. 4

What Happened
Thomas J. Nimbley, a director of PBF Energy Inc. (PBF), exercised 50,000 stock options (grant fully vested) and simultaneously sold 50,000 shares in the open market on March 26, 2026. He paid $28.67 per share to exercise the options (total exercise cost $1,433,500) and sold the shares at $51.36 each for total proceeds of $2,568,035. The filing also shows a related derivative disposition record of 50,000 at $0.00, reflecting the option conversion/termination tied to the exercise.

Key Details

• Transaction date: March 26, 2026 (Form 4 filed March 27, 2026). Filing appears timely (one day after the transaction).
• Exercise: 50,000 options exercised at $28.67 per share; exercise cost $1,433,500. (Footnote: options were granted Oct 30, 2017 and are fully vested.)
• Sale: 50,000 shares sold in the open market at $51.36 per share; proceeds $2,568,035.
• Derivative entry: 50,000 units disposed at $0.00 associated with the option conversion.
• Shares owned after the transactions: not specified in the provided filing excerpt.
• No indication this was a gift or a 10% owner transaction; this was an option exercise followed by an immediate sale (cashless-style outcome).

Context
This is a common pattern where an insider exercises vested options and sells the resulting shares the same day — effectively realizing the spread between the exercise price and the market price. Such transactions are routine and reflect the insider monetizing vested compensation rather than a direct buy or long-term accumulation signal.