Form 4: Slim Family Increases Stake in PBF Energy with $2.96 Million Share Purchase

Control Empresarial de Capitales, linked to the Slim family, acquired 100,000 shares of PBF Energy, increasing their total holdings to approximately 25.3% of the company's outstanding Class A common stock.

Summary

• Control Empresarial de Capitales S.A. de C.V., associated with the Slim family, purchased 100,000 shares of PBF Energy Class A Common Stock on January 22, 2025.
• The shares were acquired at a weighted average price of $29.5985 per share, with individual transaction prices ranging from $29.51 to $29.70.
• Following the transaction, Control Empresarial directly owns 29,084,998 shares of PBF Energy Class A Common Stock.
• The Slim Family, through a Mexican trust that owns Control Empresarial, is deemed to indirectly beneficially own these shares.
• This ownership represents approximately 25.3% of the 115,123,458 outstanding Class A Common Shares of PBF Energy, as reported in the company's Form 10-Q filed on October 31, 2024.

Sentiment

Score: 7

Explanation: The document indicates a positive development with a major shareholder increasing their stake, suggesting confidence in the company. However, it is a routine filing and does not contain any information about future plans or potential risks.

Positives

• The increased stake by the Slim Family could be seen as a positive sign of confidence in PBF Energy's future prospects.
• The purchase demonstrates a significant investment by a major shareholder.

Risks

• The document does not explicitly state any risks, but a large ownership stake could potentially lead to increased influence by the Slim Family.
• The document does not provide any information about the future intentions of the Slim Family or Control Empresarial.

Industry Context

This filing indicates a significant ownership stake by a major investor in the energy sector, which could influence market perception of PBF Energy's stability and growth potential. It is not uncommon for large investors to increase their holdings in companies they believe have strong future prospects.

Comparison to Industry Standards

• Large ownership stakes are common in the energy sector, with many companies having significant holdings by institutional investors or family groups.
• A 25.3% stake is a substantial holding, potentially giving the Slim Family significant influence over PBF Energy's direction.
• Comparable companies in the refining sector often have similar ownership structures, with a mix of institutional and individual investors.

Stakeholder Impact

• Shareholders may view the increased stake as a positive sign, potentially leading to increased confidence in the company.
• The increased ownership could lead to greater influence by the Slim Family on the company's strategic direction.

Key Dates

Keywords

PBF Energy, Control Empresarial de Capitales, Slim Family, Class A Common Stock, Beneficial Ownership, Share Purchase, SEC Form 4, Investment