Form 4: PBF Energy Executive Sells Shares to Cover Tax Obligations

A PBF Energy Senior Vice President sold 4,095 shares of Class A Common Stock to cover tax obligations.

Summary

• Paul T. Davis, a Senior Vice President at PBF Energy Inc., sold 4,095 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 stock awards.
• Following the transaction, Mr. Davis directly owns 103,942 shares of PBF Energy Class A Common Stock.

Sentiment

Score: 5

Explanation: The document is a routine SEC filing detailing a stock sale by an executive for tax purposes, which is neither positive nor negative for the company's overall outlook.

Industry Context

Form 4 filings are a routine part of corporate governance and provide transparency into the trading activities of company insiders. This filing indicates a sale of shares by a senior executive, which is not uncommon for tax purposes.

Comparison to Industry Standards

• Form 4 filings are standard practice for publicly traded companies in the United States, as mandated by the Securities and Exchange Commission (SEC).
• Similar filings are made by executives at other energy companies such as Marathon Petroleum (MPC) and Valero Energy (VLO) when they engage in stock transactions.
• The sale of shares to cover tax obligations is a common practice among executives who receive stock-based compensation.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale by an executive for tax purposes.

Key Dates

Keywords

PBF Energy, insider trading, stock sale, Form 4, executive, tax obligations, Class A Common Stock