PBF Energy board approves long-term incentive awards for executive team

PARSIPPANY, N.J.—The board of directors of PBF Energy Inc. (NYSE:PBF), whose stock is currently trading near its 52-week high of $34.29 and has delivered an impressive 80.56% return over the past six months according to InvestingPro, approved grants of long-term incentive awards to its named executive officers, according to a statement made in a Securities and Exchange Commission filing on Monday.

The awards, made under the company’s 2025 Equity Incentive Plan, are scheduled to be granted on Tuesday. The plan includes restricted shares of Class A common stock, performance share units, and performance units for the three-year period from January 1, 2026, through December 31, 2028.

The performance share units and performance units are payable in shares of common stock or cash, respectively, at the end of the performance period. The amounts to be paid will range from zero to 200 percent of the units granted, depending on PBF Energy’s total shareholder return ranking relative to its peers during the period. Additional shares may be awarded at vesting for the value of dividend equivalents accrued.

The specific awards for the company’s executive officers are as follows:

• Matthew C. Lucey, Chief Executive Officer and President: $2,306,800 in restricted stock, $1,730,100 in performance share units, and $1,730,100 in performance units.
• Joseph Marino, Senior Vice President and Chief Financial Officer: $994,961 in restricted stock, $746,221 in performance share units, and $746,221 in performance units.
• T. Paul Davis, Senior Vice President, Supply, Trading and Optimization: $994,961 in restricted stock, $746,221 in performance share units, and $746,221 in performance units.
• Trecia Canty, Senior Vice President, General Counsel and Secretary: $994,961 in restricted stock, $746,221 in performance share units, and $746,221 in performance units.
• Michael Bukowski, Senior Vice President, Head of Refining: $994,961 in restricted stock, $746,221 in performance share units, and $746,221 in performance units.

The awards are subject to forfeiture or acceleration under certain circumstances as outlined in the related award agreements.

This information is based on a statement made in a recent SEC filing. The company currently offers a dividend yield of 3.83% and has maintained dividend growth for three consecutive years, according to InvestingPro, which provides comprehensive analysis and 13 additional key insights about PBF Energy’s financial health and market position in its Pro Research Report.

In other recent news, PBF Energy reported a second-quarter adjusted net loss of $1.03 per share. The company also disclosed an adjusted EBITDA of $61.8 million. Despite these figures, PBF Energy demonstrated strong operational liquidity, maintaining $590.7 million in cash. Additionally, the company reported a net debt-to-capital ratio of 30%. These recent developments highlight the financial challenges PBF Energy is navigating. There were no significant mergers or acquisitions announced. Analyst reactions to these results have not been explicitly detailed. However, the financial data provides insight into the company’s current fiscal health. No recent analyst upgrades or downgrades have been reported.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.