PBF Insider to Sell 30,000 Class A Shares — Form 144 Filed
Rhea-AI Filing Summary
PBF Energy Inc. (PBF) submitted a Form 144 reporting a proposed sale of 30,000 Class A shares through Fidelity Brokerage Services on the NYSE, with an aggregate market value of $1,020,000 and approximately 115,698,631 shares outstanding. The filing indicates the shares were acquired by an option granted on 10/27/2015 and will be sold on or about 09/25/2025 for cash. The filer represents no undisclosed material adverse information and reports no other sales in the past three months.
Positive
- Transparent disclosure of the intended sale including broker, date, acquisition history, and consideration (cash)
- Clear origin of shares from an option granted on 10/27/2015, showing administrative compliance with Rule 144
Negative
- None.
Insights
TL;DR: Insider plans to sell 30,000 shares (~0.026% of outstanding), a small, likely non-material disposition.
The filing shows an insider exercising a long-standing option and proposing a market sale through a brokerage account for cash. The size—30,000 shares versus 115.7 million outstanding—represents roughly 0.026% of the float, so the market impact should be negligible. No recent sales were reported in the past three months, and the filer affirms lack of undisclosed material information. This is routine insider liquidity rather than a signal of company distress.
TL;DR: Proper Form 144 disclosure for an option-derived sale; procedural compliance is evident.
The document details the origin of the shares (option granted in 2015) and the intended sale mechanics (broker and approximate date), fulfilling Rule 144 notice requirements. The explicit representation about material information and absence of other recent sales align with good disclosure practice. Because the sale size is immaterial relative to outstanding shares, governance implications are limited.