The breadth and dollar value of this insider selling cluster is a strong bearish signal for PBF. With the CEO, a director, the GC, and other senior VPs all selling concurrently, the market should expect headwinds in refining margins or a weak Q3 outlook.
Price Chart
Executive Summary
A massive insider selling cluster at PBF Energy: 6 insiders (including the CEO, a director, and multiple senior VPs) sold ~$34.5M in open-market shares over a 7-day window. The CEO alone sold $10.5M, and a 10% owner also sold. While some sales coincide with option exercises, the sheer scale (~0.4% of market cap) and breadth of C-suite participation signal a bearish view on near-term refining margins or earnings prospects.
Key Financial Metrics
Key Facts
- CEO Matthew Lucey sold 142,364 shares for $10.46M on 2026-08-14.
- Director Thomas Nimbley sold 169,925 shares for $12.34M on 2026-08-14.
- SVP/GC Trecia Canty sold 75,000 shares for $5.56M on 2026-08-14.
- Total open-market sales by 6 insiders: ~$34.5M, or ~0.4% of PBF's $8.5B market cap.
- Sales occurred alongside option exercises and tax-withholding events, but the open-market sales are the economic signal.
- 10% owner Control Empresarial de Capitales also sold ~$15.6M across Aug 13-14.
Financial Impact
~$34.5M in insider open-market sales, representing ~0.4% of market cap
Risk Factors
- Insider sales may be partially pre-planned under 10b5-1 plans, but the cluster size and C-suite participation reduce this likelihood.
- Refining margins are volatile; a sudden spike in crack spreads could reverse the bearish thesis.
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 SEC document filed with EDGAR.
| Document | Accession Number |
|---|---|
| CLUSTER Data (Synthetic) | cluster-PBF-1787007689000 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 5, 2026 21d ago | SC 13G/A | $84.16 | awaiting T+60 | — | $76.17 (−9.49%) |
Sep 28, 2026 28d ago | Press Release | $75.23 | awaiting T+60 | — | $76.17 (+1.25%) |
Aug 19, 2026 9w ago | Insider Cluster | $69.56 | awaiting T+60 | — | $76.17 (−9.50%) |
Aug 19, 2026 9w ago | Insider Cluster | $69.56 | awaiting T+60 | — | $76.17 (−9.50%) |
Aug 17, 2026 10w ago | Insider Cluster | $75.20 | awaiting T+60 | — | $76.17 (−1.29%) |
Aug 17, 2026 10w ago | Insider Cluster | $75.20 | awaiting T+60 | — | $76.17 (−1.29%) |
Aug 14, 2026 10w ago | Insider Cluster | $75.07 | awaiting T+60 | — | $76.17 (+1.47%) |
Aug 13, 2026 10w ago | Insider Cluster | $71.85 | awaiting T+60 | — | $76.17 (−6.01%) |
Aug 5, 2026 11w ago | Insider Cluster | $61.17 | awaiting T+60 | — | $76.17 (−24.52%) |
Aug 4, 2026 11w ago | Insider Cluster | $61.17 | awaiting T+60 | — | $76.17 (−24.52%) |
US Market Status
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