PBF Energy Management

Management criteria checks 2/4

PBF Energy's CEO is Matt Lucey, appointed in Jan 2015, has a tenure of 9.83 years. total yearly compensation is $12.24M, comprised of 8.1% salary and 91.9% bonuses, including company stock and options. directly owns 0.24% of the company’s shares, worth MX$180.79M. The average tenure of the management team and the board of directors is 2.6 years and 4.8 years respectively.

Key information

Matt Lucey

Chief executive officer

US$12.2m

Total compensation

CEO salary percentage	8.1%
CEO tenure	9.8yrs
CEO ownership	0.2%
Management average tenure	2.6yrs
Board average tenure	4.8yrs

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
Sep 30 2024	n/a	n/a	-US$293m
Jun 30 2024	n/a	n/a	US$779m
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 ($USD12.24M) is above average for companies of similar size in the MX market ($USD1.29M).

Compensation vs Earnings: Matt's compensation has increased whilst the company is unprofitable.

CEO

Matt Lucey (51 yo)

9.8yrs

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	10.1yrs	US$12.18m	0.62% MX$ 459.9m
Matthew Lucey	President	9.8yrs	US$12.24m	0.24% MX$ 180.8m
Karen Davis	Senior VP & CFO	1.8yrs	US$8.56m	0.058% MX$ 43.2m
Trecia Canty	Senior VP	9.2yrs	US$5.39m	0.10% MX$ 74.6m
Timothy Davis	Senior Vice President of Supply	2.6yrs	US$5.39m	0.094% MX$ 69.3m
Thomas O'Connor	Senior Vice President of Commodity Risk & Strategy	10.2yrs	US$5.38m	0.14% MX$ 100.9m
Colin Murray	Senior Director of Investor Relations	no data	no data	no data
Wendy Ho Tai	Senior Vice President of Human Resources	2.6yrs	no data	no data
Steven Steach	Senior VP & Head of Refining	2.8yrs	no data	0.057% MX$ 42.0m
James Fedena	Senior Vice President of Logistics	2.6yrs	no data	0.090% MX$ 66.7m
Michael Bukowski	Senior VP & Head of Refining	less than a year	no data	0.014% MX$ 10.6m
Thomas O'Malley	Consultant	8.4yrs	US$8.29m	no data

2.6yrs

Average Tenure

60.5yo

Average Age

Experienced Management: PBF *'s management team is considered experienced (2.6 years average tenure).

Board Members

Name	Position	Tenure	Compensation	Ownership
Thomas Nimbley	Executive Chairman	10.1yrs	US$12.18m	0.62% MX$ 459.9m
Matthew Lucey	President	1.3yrs	US$12.24m	0.24% MX$ 180.8m
Kimberly Lubel	Independent Director	7.3yrs	US$334.45k	0.035% MX$ 25.6m
E. Abraham	Independent Director	12.1yrs	US$325.00k	0.046% MX$ 34.0m
S. Edwards	Lead Independent Director	10.3yrs	US$338.30k	0.047% MX$ 34.7m
Paul Donahue	Independent Director	2.8yrs	US$305.00k	0.013% MX$ 9.6m
Lawrence Ziemba	Independent Director	1.8yrs	US$320.56k	0.0085% MX$ 6.3m
Damian Wilmot	Independent Director	1.7yrs	US$277.92k	0.0062% MX$ 4.6m
George Ogden	Independent Director	6.8yrs	US$305.00k	0.035% MX$ 26.2m
Georganne Hodges	Independent Director	1.7yrs	US$277.92k	0.0066% MX$ 4.9m

4.8yrs

Average Tenure

63yo

Average Age

Experienced Board: PBF *'s board of directors are considered experienced (4.8 years average tenure).

PBF Energy Management

Management criteria checks 2/4

Key information

Recent management updates

High number of new directors

High number of new directors

High number of new directors

High number of new directors

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

High number of new directors

Recent updates

Third quarter 2024 earnings released: US$2.48 loss per share (vs US$6.35 profit in 3Q 2023)

PBF Energy Inc. Declares Increased Dividend, Payable Stock on November 27, 2024

PBF Energy Inc. to Report Q3, 2024 Results on Oct 31, 2024

Second quarter dividend of US$0.25 announced

High number of new directors

PBF Energy Inc. Announces Quarterly Dividend Class A Common Stock, Payable on August 29, 2024

PBF Energy Inc. to Report Q2, 2024 Results on Aug 01, 2024

First quarter dividend of US$0.25 announced

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

High number of new directors

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

High number of new directors

High number of new directors

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

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

High number of new directors

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

High number of new directors

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

New minor risk - Dividend sustainability

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

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

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

High number of new directors

Investor sentiment improves as stock rises 19%

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

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

New major risk - Earnings quality

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

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

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

PBF Energy Inc. Appoints Matthew C. Lucey to the Board, Effective July 1, 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

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

Investor sentiment deteriorated over the past week

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

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

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

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

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)

Investor sentiment deteriorated over the past week

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

Investor sentiment improved over the past week

Insider recently sold Mex$47m worth of stock

Investor sentiment improved over the past week

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

Investor sentiment improved over the past week

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

Investor sentiment improved over the past week

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