Director Nimbley Thomas J. Files Intent to Sell $8.01M in PBF Energy Shares
PBF has more than doubled off its 52-week low of $13.615.
Summary
Director Thomas J. Nimbley has filed a Form 144 indicating an intent to sell 200,000 shares of PBF Energy Class A common stock, valued at approximately $8.01 million.
Key Events · Ownership and Investor Activity · PBF
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Intent to Sell Shares
Director Thomas J. Nimbley filed a Form 144 to sell 200,000 shares of Class A common stock.
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Significant Value
The proposed sale has an approximate market value of $8.01 million.
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Source of Shares
The shares were acquired through an option granted on October 25, 2016.
Analysis · PBF · Energy & Transportation
This Form 144 indicates a director's intent to liquidate a substantial portion of their holdings, specifically shares acquired via options. While not an immediate sale, the filing signals a potential future reduction in insider ownership, which can be perceived negatively by the market. The $8.01 million value represents a notable transaction for a director. Investors should monitor subsequent Form 4 filings to confirm if and when these shares are actually sold.
At the time of this filing, PBF was trading at $39.27 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $4.6B. The 52-week trading range was $13.62 to $41.48. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.