PBF Energy Inc. has announced grants of long-term incentive awards to its executive leadership team, approved by the Compensation Committee of the Board of Directors on October 27, 2026. The awards were granted under the Company’s 2025 Equity Incentive Plan and are effective as of the Grant Date, October 27, 2026.
The Company’s Chief Executive Officer & President, Matthew C. Lucey, received a 2026 long-term incentive award valued at $8,484,700. Senior Vice President & Chief Financial Officer Joseph Marino, Senior Vice President, Supply, Trading and Optimization T. Paul Davis, and Senior Vice President, General Counsel & Secretary Trecia Canty each received an award valued at $2,500,000.
The awards were allocated across three components: 40% restricted shares of Class A common stock, 30% performance share units, and 30% performance units. The restricted stock vests in equal installments over three years. The performance share units and performance units are tied to Total Shareholder Return (TSR) over a three-year performance period from January 1, 2027, through December 31, 2029. The payout for these units ranges from zero to 200 percent of the target amount, based on TSR performance determined by the Committee. Additionally, dividend equivalents accrued during the Performance Period may be awarded as additional shares of Common Stock at vesting.
Exhibits 10.1 and 10.2 to the filing contain the specific forms of the award agreements for the performance share units and performance units, respectively.
