Form 4: PBF Energy Executive Chairman Thomas Nimbley Sells 10,940 Shares to Cover Tax Obligations

PBF Energy's Executive Chairman, Thomas Nimbley, disposed of 10,940 shares of Class A Common Stock to cover tax obligations.

Summary

• Thomas Nimbley, the Executive Chairman of PBF Energy Inc., sold 10,940 shares of Class A Common Stock on December 2, 2024.
• The sale was executed at a price of $32.7 per share.
• This transaction was to cover tax obligations related to the vesting of shares.
• Following the transaction, Mr. Nimbley directly owns 706,168 shares of PBF Energy.

Sentiment

Score: 5

Explanation: The document reflects a routine transaction for tax purposes, with no significant positive or negative implications for the company's performance or outlook.

Industry Context

This is a routine transaction for executives to cover tax obligations related to stock awards and is common in publicly traded companies.

Comparison to Industry Standards

• Executive stock sales to cover tax obligations are a common practice across publicly traded companies.
• Form 4 filings are standard procedure for reporting insider transactions to the SEC.
• The number of shares sold is relatively small compared to the total shares owned by the executive.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale by an executive to cover tax obligations.

Key Dates

Keywords

PBF Energy, Thomas Nimbley, Executive Chairman, stock sale, insider trading, Form 4, tax obligations, Class A Common Stock