Director Sells $8 Million in Shares After Option Exercise Near 52-Week High
PBF has more than doubled off its 52-week low of $13.615 on elevated volume (2.2× avg).
Summary
Director Thomas J. Nimbley sold 200,000 shares of PBF Energy common stock for over $8 million after exercising options, reducing his direct holdings.
Key Events · Ownership and Investor Activity · PBF
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Director Sells Shares
Director Thomas J. Nimbley sold 200,000 shares of Class A Common Stock for a total of $8,014,680.00 at a price of $40.07 per share.
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Option Exercise Precedes Sale
The sale followed the exercise of 200,000 employee stock options at an exercise price of $21.38 per share, valued at $4,276,000.00.
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Significant Reduction in Holdings
Post-transaction, the director's direct holdings decreased to 790,716 shares.
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Sale Near 52-Week High
The transaction occurred while PBF Energy's stock is trading near its 52-week high, suggesting the director capitalized on favorable market conditions.
Analysis · PBF · Energy & Transportation
Director Thomas J. Nimbley executed a significant sale of PBF Energy shares, disposing of 200,000 shares for over $8 million. This transaction occurred immediately after exercising options to acquire the same number of shares. The sale, which represents a notable portion of the company's market capitalization, comes as the stock trades near its 52-week high, potentially indicating the director is locking in gains. This Form 4 confirms the execution of the previously stated intent to sell, as indicated in a Form 144 filed yesterday.
At the time of this filing, PBF was trading at $45.11 on NYSE in the Energy & Transportation sector, with a market capitalization of approximately $5.2B. The 52-week trading range was $13.62 to $45.13. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.