SEC Form 4 · accession 0001209191-16-130744
PBF Energy Inc. · PBF
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
C Erik Young
Officer — Chief Financial Officer, SVP
Period of report
Jun 30, 2016
Accepted (ET)
Jul 5, 2016 · 2:08 pm EDT
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001534504
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Class B Common StockF1 | holding | — | — | — | 1 | D | ||
| Class A Common Stock | holding | — | — | — | 40,000 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Unit OptionsF2 | $10.00 | Jun 30, 2016 | M | 7,500 | D | — | Mar 4, 2021 | Class A Common Stock | 7,500 | 0 | D |
| Series A Units of PBF Energy Company LLCF3 | — | Jun 30, 2016 | M | 7,500 | A | — | — | Class A Common Stock | 7,500 | 13,000 | D |
Explanation of responses
- F1The Class B Common Stock entitles the reporting person to one vote for each Series A Unit of PBF Energy Company LLC held by such reporting person.
- F2Represents options to purchase Series A Units of PBF Energy Company LLC. The options vested in three equal annual installments beginning on March 4, 2012. 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 his share of Class B Common Stock of PBF Energy Inc. will be automatically and correspondingly reduced.
- F3Pursuant 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 his share of Class B Common Stock of PBF Energy Inc. will be automatically and correspondingly reduced.