Form 4: PBF Energy SVP Paul Davis Reports Stock Award and Tax Withholding

Senior Vice President of PBF Energy, Paul Davis, reports the acquisition of shares through a performance share unit payout and subsequent disposal for tax withholding.

Summary

• Paul Davis, a Senior Vice President at PBF Energy, reported a transaction on February 18, 2025.
• He acquired 53,799 shares of Class A Common Stock as part of a performance share unit award.
• These shares were granted in connection with the final payout of performance share units granted on November 18, 2021, related to the performance cycle from January 1, 2022, to December 31, 2024.
• Davis also disposed of 21,240 shares of Class A Common Stock at a price of $23.93 for tax withholding purposes.
• Following these transactions, Davis beneficially owns 165,056 shares of PBF Energy Class A Common Stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. The acquisition of shares is positive, reflecting past performance, but the disposal for tax purposes is a standard procedure and doesn't necessarily indicate a negative outlook.

Positives

• The acquisition of shares indicates a successful performance cycle for PBF Energy, leading to the payout of performance share units.

Negatives

• The disposal of shares for tax withholding reduces Davis's overall holdings in PBF Energy.

Industry Context

Form 4 filings are standard practice for company insiders and provide transparency into their transactions, which can be indicative of their confidence in the company's future performance. The energy sector is often subject to volatility, and insider transactions are closely monitored by investors.

Comparison to Industry Standards

• Comparing PBF Energy's insider transactions to those of peers like Valero Energy (VLO) or Marathon Petroleum (MPC) can provide insights into relative management sentiment.
• Performance-based equity compensation is a common practice in the energy industry to align management's interests with shareholder value.
• Tax withholding practices are standard across publicly traded companies.

Stakeholder Impact

• The transaction provides transparency to shareholders regarding insider activity.
• The tax withholding impacts the reporting person's personal finances.

Key Dates

Keywords

PBF Energy, Paul Davis, Form 4, Beneficial Ownership, Performance Share Units, Tax Withholding, Class A Common Stock