T. Rowe Price (PBF) discloses 2.7% PBF Energy stake in Schedule 13G/A

Rhea-AI Filing Summary

T. Rowe Price Investment Management, Inc. filed an amended Schedule 13G reporting beneficial ownership of 3,108,975 shares of PBF Energy Inc. Class A common stock, representing 2.7% of the class as of 12/31/2025. The firm reports sole voting power over 3,088,899 shares and sole dispositive power over 3,108,975 shares.

The filing states these securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of PBF Energy. The reporter also affirms ownership of 5 percent or less of the class and disclaims beneficial ownership in a limiting statement.

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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

PBF ENERGY INC-CLASS A

(Name of Issuer)

COMMON STOCK

(Title of Class of Securities)

69318G106

(CUSIP Number)

12/31/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 69318G106

1

Names of Reporting Persons

T. Rowe Price Investment Management, Inc.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

MARYLAND

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 3,088,899.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 3,108,975.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

3,108,975.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

2.7 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: PBF ENERGY INC-CLASS A
(b)	Address of issuer's principal executive offices: 1 SYLVAN WAY, PARSIPPANY, MA, 7054
Item 2.
(a)	Name of person filing: T. Rowe Price Investment Management, Inc.
(b)	Address or principal business office or, if none, residence: 1307 Point Street, Baltimore, MD 21231
(c)	Citizenship: Maryland
(d)	Title of class of securities: COMMON STOCK
(e)	CUSIP No.: 69318G106
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 3108975
(b)	Percent of class: 2.7 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 3088899
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 3108975
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	Not Applicable
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11. T. Rowe Price Investment Management, Inc. hereby declares and affirms that the filing of Schedule 13G shall not be construed as an admission that Price Investment Management is the beneficial owner of the securities referred to, which beneficial ownership is expressly denied.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

T. Rowe Price Investment Management, Inc.

Signature:	Ellen York
Name/Title:	Vice President
Date:	02/17/2026

FAQ

What stake does T. Rowe Price Investment Management hold in PBF (PBF) after this Schedule 13G/A?

T. Rowe Price Investment Management reports beneficial ownership of 3,108,975 PBF Energy Class A shares, equal to 2.7% of the outstanding class. The firm has sole voting power over 3,088,899 shares and sole dispositive power over 3,108,975 shares as of 12/31/2025.

Is T. Rowe Price Investment Management reporting more or less than 5% ownership of PBF (PBF)?

The filing confirms T. Rowe Price Investment Management owns 5 percent or less of PBF Energy’s Class A common stock. Specifically, it reports 2.7% beneficial ownership, based on 3,108,975 shares held, which places the firm below the 5% large-shareholder disclosure threshold.

Does T. Rowe Price Investment Management seek to influence control of PBF Energy (PBF)?

The report states the PBF Energy shares were acquired and are held in the ordinary course of business. It explicitly says they were not acquired and are not held to change or influence control of PBF Energy, aside from activities related to certain nomination provisions.

What voting and dispositive powers over PBF (PBF) shares does T. Rowe Price Investment Management report?

T. Rowe Price Investment Management reports sole voting power over 3,088,899 shares of PBF Energy Class A stock. It also reports sole dispositive power over 3,108,975 shares, with no shared voting or shared dispositive power over any PBF shares in this filing.

What type of filer is T. Rowe Price Investment Management in this PBF (PBF) Schedule 13G/A?

T. Rowe Price Investment Management identifies itself as organized in Maryland and files on Schedule 13G as an institutional investor. The ownership is reported under the beneficial ownership framework, with the firm certifying ordinary-course investment and no control-seeking purpose for its PBF holdings.

What key date applies to T. Rowe Price Investment Management’s reported PBF (PBF) holdings?

The Schedule 13G/A states the relevant date of event requiring the filing is 12/31/2025. As of that date, T. Rowe Price Investment Management reports beneficial ownership of 3,108,975 PBF Energy Class A shares, representing 2.7% of the outstanding class, with solely held voting and dispositive powers.