Form 4: Slim Family Affiliate Sells PBF Energy Shares

Control Empresarial de Capitales, an entity linked to the Slim Family, reported the sale of 50,000 Class A Common Shares of PBF Energy Inc. for approximately $1.6 million.

Summary

• Control Empresarial de Capitales S.A. de C.V., a 10% owner and director of PBF Energy Inc., sold 50,000 Class A Common Shares.
• The transaction occurred on January 9, 2026, at a weighted average price of $32.3094 per share, totaling approximately $1,615,470.
• Following the sale, Control Empresarial de Capitales beneficially owns 30,773,498 Class A Common Shares.
• This beneficial ownership represents approximately 26.6% of PBF Energy's 115,847,488 outstanding Class A Common Shares, as reported in the Form 10-Q filed on October 30, 2025.
• The Slim Family, through a Mexican trust, is deemed to indirectly beneficially own these shares.

Sentiment

Score: 4

Explanation: The sale of shares by a significant insider, especially a 10% owner and director, can be viewed negatively by the market as it might signal a lack of confidence or a move to reduce exposure. However, the amount sold (50,000 shares) is a small fraction of their total holdings (30.77 million shares), so the impact is limited. It's likely a routine transaction for diversification or liquidity rather than a strong bearish signal.

Negatives

• A significant shareholder, Control Empresarial de Capitales S.A. de C.V., sold 50,000 Class A Common Shares of PBF Energy Inc.
• The sale by a 10% owner and director could be interpreted as a move to diversify holdings or a slight reduction in exposure.

Future Outlook

No forward-looking statements or guidance are provided in this insider transaction report.

Industry Context

This filing is a routine insider transaction report for PBF Energy Inc., a company operating in the refining industry. It does not provide broader industry trends or competitive analysis.

Related Party Transactions

• Control Empresarial de Capitales S.A. de C.V., a 10% owner and director of PBF Energy Inc., sold 50,000 Class A Common Shares.
• The Slim Family, through a Mexican trust, indirectly beneficially owns the shares held by Control Empresarial de Capitales S.A. de C.V.

Stakeholder Impact

• Shareholders: The sale by a significant insider might be perceived negatively, potentially leading to minor downward pressure on the stock price, though the volume is small relative to total holdings.

Next Steps

• The reporting persons undertake to provide the issuer, any security holder of the issuer, or the staff of the Securities and Exchange Commission, upon request, full information regarding the shares purchased at each separate price within the reported range.

Key Dates

Recommendation

The filing reports a routine insider sale by a significant shareholder, Control Empresarial de Capitales S.A. de C.V., and the Slim Family. While insider sales can sometimes signal a lack of confidence, the 50,000 shares sold represent a very small fraction (approximately 0.16%) of their total beneficial ownership of 30.77 million shares and an even smaller fraction of the total outstanding shares. This suggests the sale is likely for diversification, liquidity, or tax planning rather than a fundamental shift in outlook on PBF Energy. Without additional information or a larger, more significant sale, this transaction alone does not warrant a change from a 'hold' position.

Keywords

PBF Energy, PBF, Control Empresarial de Capitales, Slim Family, Insider Sale, Form 4, Stock Transaction, Beneficial Ownership, Refining Industry