Herman L. Seedorf - 28 Dec 2021 Form 4 Insider Report for PBF Energy Inc. (PBF)

Role: Senior Vice President
Signature: /s/ Herman Seedorf by Trecia Canty as Attorney-in-Fact
Issuer symbol: PBF
Transactions as of: 28 Dec 2021
Net transactions value: $0
Form type: 4
Filing time: 29 Dec 2021, 10:53:55 UTC
Previous filing: 22 Nov 2021
SEC: View on sec.gov

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PBF	Class A Common Stock	Options Exercise	$0	+66,202	+205%	$0.000000	98,544	28 Dec 2021	Direct
holding	PBF	Class B Common Stock						0	28 Dec 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	PBF	Series A Unit of PBF Energy Company LLC	Options Exercise		-66,202	-100%		0	28 Dec 2021	Class A Common Stock	66,202		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	The reporting person exchanged all of his Series A Units of PBF Energy Company LLC for Class A Common Stock and as a result does not hold any Class B Common Stock.
F2	Pursuant to an exchange agreement the Series A Units of PBF Energy Company LLC are exchangeable at any time for shares of Class A Common Stock of PBF Energy Inc. on a one-for-one basis, subject to equitable adjustments for stock splits, stock dividends and reclassifications. As the reporting person exchanges the Series A Units of PBF Energy Company LLC for shares of Class A Common Stock of PBF Energy Inc. pursuant to the exchange agreement, the voting power afforded to the reporting person by her share of Class B Common Stock of PBF Energy Inc. will be automatically and correspondingly reduced.

Content

The reporting person exchanged all of his Series A Units of PBF Energy Company LLC for Class A Common Stock and as a result does not hold any Class B Common Stock.

Pursuant to an exchange agreement the Series A Units of PBF Energy Company LLC are exchangeable at any time for shares of Class A Common Stock of PBF Energy Inc. on a one-for-one basis, subject to equitable adjustments for stock splits, stock dividends and reclassifications. As the reporting person exchanges the Series A Units of PBF Energy Company LLC for shares of Class A Common Stock of PBF Energy Inc. pursuant to the exchange agreement, the voting power afforded to the reporting person by her share of Class B Common Stock of PBF Energy Inc. will be automatically and correspondingly reduced.