[Form 4] PBF Energy Inc. Insider Trading Activity

Rhea-AI Filing Summary

PBF Energy Inc. (PBF) director Karen B. Davis reported two transactions on 10/03/2025. She received 3,345 restricted Class A shares issued under the 2025 Equity Incentive Plan at no cash cost and sold 1,632 Class A shares at $30.52 per share. After these transactions her reported beneficial holding in Class A common stock decreased from 98,787 to 97,155 shares, reflecting the net effect of the award and the sale. The Form 4 was signed via attorney-in-fact on 10/06/2025.

Positive

• Equity alignment: Director received 3,345 restricted shares under the 2025 Equity Incentive Plan, supporting stakeholder alignment
• Transparent reporting: Transactions disclosed on Form 4 with explicit amounts and prices

Negative

• Net ownership decline: Beneficial holdings decreased to 97,155 shares after the reported sale
• Immediate sale: Director sold 1,632 shares, which reduces the director's direct stake in the short term

Insights

Governance & Compensation Analyst

Director received restricted equity and simultaneously sold a smaller share amount, modestly reducing holdings.

The director was granted 3,345 restricted Class A shares under the 2025 Equity Incentive Plan, which aligns part of compensation with equity ownership and retention incentives.

This grant and the concurrent reported sale of 1,632 shares at $30.52 create a small net decrease in reported holdings to 97,155 shares; monitor vesting conditions and any planned future disposals over the vesting schedule.

Insider Transactions Specialist

Transactions are routine Section 16 reporting: an issuance to a non-employee director and a market sale.

The restricted stock issuance is coded as an award (code A(1)) at $0, indicating compensation rather than a purchase, while the sale (code F) executed at $30.52 reduced direct holdings.

Because the award is restricted, its ultimate impact depends on vesting and forfeiture terms; the sale proceeds and timing are explicit in the filing and should be tracked for any subsequent Section 16 filings.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Davis Karen Berriman

(Last) (First) (Middle)

1 SYLVAN WAY

SECOND FLOOR

(Street)

PARSIPPANY NJ 07054

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
PBF Energy Inc. [ PBF ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

3. Date of Earliest Transaction (Month/Day/Year)
10/03/2025

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Class A Common Stock	10/03/2025		A(1)		3,345	A	$0	98,787	D
Class A Common Stock	10/03/2025		F		1,632	D	$30.52	97,155	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Constitutes restricted stock issued to non-employee director under the PBF Energy Inc. 2025 Equity Incentive Plan.

	/s/ Karen B. Davis by Trecia Canty as Attorney-in-Fact	10/06/2025
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What did PBF director Karen B. Davis report on Form 4 (PBF)?

She reported receipt of 3,345 restricted Class A shares under the 2025 Equity Incentive Plan and a sale of 1,632 Class A shares at $30.52 on 10/03/2025.

How did these transactions change Karen B. Davis's holdings in PBF?

Her reported beneficial ownership of Class A common stock moved from 98,787 shares to 97,155 shares following the transactions.

Was the issued restricted stock purchased or awarded?

The 3,345 Class A shares were issued as restricted stock at $0, indicating an award rather than a purchased security.

What price did Karen B. Davis receive for her sold shares?

The sale of 1,632 Class A shares was executed at $30.52 per share.

When was the Form 4 signed and filed?

The Form 4 shows an execution signature by attorney-in-fact on 10/06/2025 for the transactions dated 10/03/2025.