Herman Seedorf - Dec 28, 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
Stock symbol: PBF
Transactions as of: Dec 28, 2021
Transactions value $: $0
Form type: 4
Date filed: 12/29/2021, 10:53 AM
Previous filing: Nov 22, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	PBF	Class A Common Stock	Options Exercise	$0	+66.2K	+204.69%	$0.00	98.5K	Dec 28, 2021	Direct
holding	PBF	Class B Common Stock						0	Dec 28, 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		-66.2K	-100%		0	Dec 28, 2021	Class A Common Stock	66.2K		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.