PBF Energy Management

Management criteria checks 2/4

PBF Energy's CEO is Matt Lucey, appointed in Jan 2015, has a tenure of 9.33 years. total yearly compensation is $12.24M, comprised of 8.1% salary and 91.9% bonuses, including company stock and options. directly owns 0.25% of the company’s shares, worth €14.38M. The average tenure of the management team and the board of directors is 2.2 years and 6.3 years respectively.

Key information

Matt Lucey

Chief executive officer

US$12.2m

Total compensation

CEO salary percentage	8.1%
CEO tenure	9.3yrs
CEO ownership	0.2%
Management average tenure	2.2yrs
Board average tenure	6.3yrs

Recent management updates

Recent updates

CEO Compensation Analysis

How has Matt Lucey's remuneration changed compared to PBF Energy's earnings?
Date	Total Compensation	Salary	Company Earnings
Mar 31 2024	n/a	n/a	US$2b
Dec 31 2023	US$12m	US$990k	US$2b
Sep 30 2023	n/a	n/a	US$3b
Jun 30 2023	n/a	n/a	US$3b
Mar 31 2023	n/a	n/a	US$3b
Dec 31 2022	US$6m	US$670k	US$3b
Sep 30 2022	n/a	n/a	US$2b
Jun 30 2022	n/a	n/a	US$1b
Mar 31 2022	n/a	n/a	US$251m
Dec 31 2021	US$3m	US$650k	US$231m
Sep 30 2021	n/a	n/a	-US$233m
Jun 30 2021	n/a	n/a	-US$709m
Mar 31 2021	n/a	n/a	-US$368m
Dec 31 2020	US$2m	US$488k	-US$1b
Sep 30 2020	n/a	n/a	-US$1b
Jun 30 2020	n/a	n/a	-US$555m
Mar 31 2020	n/a	n/a	-US$976m
Dec 31 2019	US$4m	US$650k	US$319m
Sep 30 2019	n/a	n/a	-US$88m
Jun 30 2019	n/a	n/a	US$22m
Mar 31 2019	n/a	n/a	US$327m
Dec 31 2018	US$7m	US$608k	US$128m
Sep 30 2018	n/a	n/a	US$723m
Jun 30 2018	n/a	n/a	US$858m
Mar 31 2018	n/a	n/a	US$476m
Dec 31 2017	US$5m	US$600k	US$415m

Compensation vs Market: Matt's total compensation ($USD12.24M) is above average for companies of similar size in the German market ($USD3.34M).

Compensation vs Earnings: Matt's compensation has increased by more than 20% whilst company earnings have fallen more than 20% in the past year.

CEO

Matt Lucey (50 yo)

9.3yrs

Tenure

US$12,240,872

Compensation

Mr. Matthew C. Lucey, also known as Matt, has been President at PBF Energy Company LLC, PBF Energy Inc. PBF Logistics GP LLC and PBF Holding Company LLC since January 2015. Mr. Lucey serves as Chief Execut...

Leadership Team

Name	Position	Tenure	Compensation	Ownership
Thomas Nimbley	Executive Chairman	9.6yrs	US$12.18m	0.60% $ 35.0m
Matthew Lucey	President	9.3yrs	US$12.24m	0.25% $ 14.4m
Karen Davis	Senior VP & CFO	1.3yrs	US$8.56m	0.059% $ 3.5m
Trecia Canty	Senior VP	8.7yrs	US$5.39m	0.10% $ 5.8m
Timothy Davis	Senior Vice President of Supply	2.1yrs	US$5.39m	0.093% $ 5.4m
Thomas O'Connor	Senior Vice President of Commodity Risk & Strategy	9.7yrs	US$5.38m	0.13% $ 7.9m
Colin Murray	Senior Director of Investor Relations	no data	no data	no data
Wendy Ho Tai	Senior Vice President of Human Resources	2.1yrs	no data	no data
Steven Steach	Senior VP & Head of Refining	2.3yrs	no data	0.055% $ 3.2m
James Fedena	Senior Vice President of Logistics	2.1yrs	no data	0.089% $ 5.2m
Michael Bukowski	Senior VP & Head of Refining	no data	no data	0.014% $ 810.3k
Thomas O'Malley	Consultant	7.9yrs	US$8.29m	no data

2.2yrs

Average Tenure

59.5yo

Average Age

Experienced Management: PEN's management team is considered experienced (2.2 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Thomas Nimbley	Executive Chairman	9.6yrs	US$12.18m	0.60% $ 35.0m
Matthew Lucey	President	less than a year	US$12.24m	0.25% $ 14.4m
Wayne Budd	Independent Director	10.3yrs	US$325.00k	0.043% $ 2.5m
Kimberly Lubel	Independent Director	6.8yrs	US$334.45k	0.031% $ 1.8m
E. Abraham	Independent Director	11.6yrs	US$325.00k	0.042% $ 2.5m
S. Edwards	Lead Independent Director	9.8yrs	US$338.30k	0.043% $ 2.5m
Paul Donahue	Independent Director	2.3yrs	US$305.00k	0.011% $ 622.2k
Lawrence Ziemba	Independent Director	1.3yrs	US$320.56k	0.0060% $ 353.9k
Damian Wilmot	Independent Director	1.2yrs	US$277.92k	0.0040% $ 234.3k
George Ogden	Independent Director	6.3yrs	US$305.00k	0.032% $ 1.9m
Georganne Hodges	Independent Director	1.2yrs	US$277.92k	0.0042% $ 247.2k

6.3yrs

Average Tenure

66yo

Average Age

Experienced Board: PEN's board of directors are considered experienced (6.3 years average tenure).

PBF Energy Management

Management criteria checks 2/4

Key information

Recent management updates

PBF Energy Inc., Annual General Meeting, Apr 30, 2024

Wayne Budd Not to Stand for Re-Election as Director of PBF Energy Inc

High number of new directors

Pbf Energy Inc. Announces Executive Changes

PBF Energy Inc. Announces Appointment of Lawrence M. Ziemba as Director, Effective January 1, 2023

PBF Energy Inc. Names Karen B. Davis as Interim Chief Financial Officer

Recent updates

PBF Energy Inc. Announces Quarterly Dividend on Class A Common Stock, Payable on May 30, 2024

First quarter 2024 earnings released: EPS: US$0.89 (vs US$2.97 in 1Q 2023)

PBF Energy Inc. to Report Q1, 2024 Results on May 02, 2024

PBF Energy Inc., Annual General Meeting, Apr 30, 2024

Now 20% undervalued

Upcoming dividend of US$0.25 per share

Fourth quarter dividend of US$0.25 announced

Full year 2023 earnings released: EPS: US$17.13 (vs US$23.47 in FY 2022)

PBF Energy Inc. Provides Production Guidance for the First Quarter and Full Year of 2024

PBF Energy Inc. Announces Quarterly Dividend, Payable on March 14, 2024

Wayne Budd Not to Stand for Re-Election as Director of PBF Energy Inc

Investor sentiment improves as stock rises 18%

New minor risk - Share price stability

PBF Energy Inc. to Report Q4, 2023 Results on Feb 15, 2024

Upcoming dividend of US$0.25 per share at 1.8% yield

PBF Energy Inc. Announces Quarterly Dividend, Payable on November 30, 2023

Crescent Point Energy Corp. Announces Operating Guidance for Fourth Quarter 2023

Third quarter 2023 earnings released: EPS: US$6.35 (vs US$8.65 in 3Q 2022)

PBF Energy Inc. to Report Q3, 2023 Results on Nov 02, 2023

New minor risk - Earnings quality

Upcoming dividend of US$0.20 per share at 1.7% yield

PBF Energy Inc. Declares Quarterly Dividend, Payable on August 31, 2023

Second quarter 2023 earnings released: EPS: US$8.14 (vs US$9.93 in 2Q 2022)

High number of new directors

PBF Energy Inc. to Report Q2, 2023 Results on Aug 03, 2023

Upcoming dividend of US$0.20 per share at 2.4% yield

First quarter 2023 earnings released: EPS: US$2.97 (vs US$0.17 loss in 1Q 2022)

PBF Energy Inc. Announces Declares Quarterly Dividend, Payable on May 31, 2023

Upcoming dividend of US$0.20 per share at 1.9% yield

Full year 2022 earnings released: EPS: US$23.47 (vs US$1.92 in FY 2021)

PBF Energy Inc. Declares Quarterly Dividend, Payable on March 16, 2023

PBF Energy Inc. to Report Q4, 2022 Results on Feb 16, 2023

Pbf Energy Inc. Announces Executive Changes

PBF Energy Inc. Announces Appointment of Lawrence M. Ziemba as Director, Effective January 1, 2023

Investor sentiment improved over the past week

PBF Energy Inc. (NYSE:PBF) announces an Equity Buyback for $500 million worth of its shares.

PBF Energy Inc. Names Karen B. Davis as Interim Chief Financial Officer

Investor sentiment deteriorated over the past week

PBF Energy Inc. Announces Management Resignations

PBF Energy Inc. Announces the Resignation of C. Erik Young as Chief Financial Officer, Effective December 20, 2022

Upcoming dividend of US$0.20 per share

Now 22% undervalued

Third quarter 2022 earnings released: EPS: US$8.65 (vs US$0.49 in 3Q 2021)

PBF Energy Inc. Provides Production Guidance for the Fourth Quarter of 2022 and Full Year of 2022

Investor sentiment improved over the past week

PBF Energy Inc. to Report Q3, 2022 Results on Oct 27, 2022

Investor sentiment deteriorated over the past week

Investor sentiment improved over the past week

Second quarter 2022 earnings released: EPS: US$9.93 (vs US$0.40 in 2Q 2021)

PBF Energy Inc. to Report Q2, 2022 Results on Jul 28, 2022

Investor sentiment deteriorated over the past week

Investor sentiment improved over the past week

Insider recently sold €2.3m worth of stock

First quarter 2022 earnings released: US$0.17 loss per share (vs US$0.34 loss in 1Q 2021)

PBF Energy Inc., Annual General Meeting, May 26, 2022

Investor sentiment improved over the past week

PBF Energy Inc. to Report Q1, 2022 Results on Apr 28, 2022

Now 22% undervalued

Investor sentiment improved over the past week

Full year 2021 earnings: EPS in line with analyst expectations despite revenue beat

Insufficient new directors

Third quarter 2021 earnings released: EPS US$0.49 (vs US$3.49 loss in 3Q 2020)

Second quarter 2021 earnings released: EPS US$0.40 (vs US$3.24 in 2Q 2020)

First quarter 2021 earnings released: US$0.34 loss per share (vs US$8.93 loss in 1Q 2020)

Chief Accounting Officer & Controller recently sold €27k worth of stock

New 90-day high: €9.60

Full year 2020 earnings released: US$11.64 loss per share (vs US$2.66 profit in FY 2019)

Revenue beats expectations

New 90-day high: €9.05