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Energy

PBF Energy Executive Compensation (FY25)

PBF · Executive and director compensation, fiscal 2022 to 2025
Chief executive, fiscal 2025
◇
Matthew Lucey
Median of the other named officers
$3,125,727
5 officers, excluding the chief executive
Latest say-on-pay support
=
April 28, 2026
Chief executive pay ratio
◇
To the median employee
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Data as of November 5, 2026Latest filing (8-K): April 30, 2026
14 filings cited on this page
A report that fails to generate is refunded in full
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327 figures on this page: 318 cited to the filing that reported them, 9 calculated from figures it prints. See the citations
What changed from fiscal 2024 to fiscal 2025
The figures that moved, and by how much. Analysis of these figures is part of the Velarion platform.
Chief executive total compensation — Matthew Lucey: $8,837,500 → $7,887,020 (10.8% lower)
Say-on-pay support: 90.5% → 91.1% (0.6 points higher)

Frequently asked questions

Answers drawn from the data on this page.
Who is PBF Energy's chief executive and what were they paid?
Matthew Lucey, President and Chief Executive Officer, received $7,887,020 in total compensation for fiscal 2025. Lucey's total was 10.8% lower than the $8,837,500 reported for fiscal 2024.
What was PBF Energy's say-on-pay result?
Shareholders supported the say-on-pay proposal with 91.1% of votes cast for or against in favor at the meeting held April 28, 2026 for fiscal 2025.
Which companies are in PBF Energy's peer group?
The disclosed peer group includes CVR Energy, Delek US Holdings, Inc., HF Sinclair Corporation, Marathon Petroleum Corporation and Phillips 66 Company, among others.
What is PBF Energy's chief executive pay ratio?
The company reported a chief executive pay ratio of 41.6:1 for fiscal 2025, against median employee compensation of $189,492.

Executive compensation

Every element reported for each named executive officer, by fiscal year.
Fiscal 2022
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Thomas Nimbley
Chief Executive Officer
◇◇◇——◇◇◇
Matthew Lucey
President
◇◇◇——◇◇◇
T. Paul Davis
SVP-Supply, Trading and Optimization
◇◇◇——◇◇◇
Trecia Canty
SVP- General Counsel
◇◇◇——◇◇◇
Thomas O'Connor
SVP-Commodity Risk and Strategy
◇◇◇——◇◇◇
C. Erik Young
Former Senior Vice President, Chief Financial Officer
Departed during or after this year
◇◇◇——◇◇◇
Fiscal 2023
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Matthew Lucey
President and Chief Executive Officer
◇◇◇——◇◇◇
Thomas Nimbley
Executive Chairman Former Chief Executive Officer
Departed during or after this year
◇◇◇——◇◇◇
Karen Davis
SVP-Supply, Trading and Optimization
◇◇◇——◇◇◇
Trecia Canty
SVP-General Counsel
◇◇◇——◇◇◇
T. Paul Davis
SVP-Supply, Trading and Optimization
◇◇◇——◇◇◇
Thomas O'Connor
Former SVP-Commodity Risk & Strategy
◇◇◇——◇◇◇
Fiscal 2024
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Matthew Lucey
President and Chief Executive Officer
◇◇◇——◇◇◇
Karen Davis
SVP-Supply, Trading and Optimization
◇◇◇——◇◇— not reconciled
T. Paul Davis
SVP-Supply, Trading and Optimization
◇◇◇——◇◇◇
Trecia Canty
SVP-General Counsel
◇◇◇——◇◇◇
Thomas O'Connor
Former SVP-Commodity Risk & Strategy
◇◇◇——◇◇— not reconciled
Fiscal 2025
OfficerSalaryBonusStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
Matthew Lucey
President and Chief Executive Officer
◇◇◇——◇◇◇
T. Paul Davis
SVP-Supply, Trading and Optimization
◇◇◇——◇◇◇
Thomas O'Connor
Former SVP-Commodity Risk & Strategy
Departed during or after this year
◇◇◇——◇◇◇
Trecia Canty
SVP-General Counsel
◇◇◇——◇◇— not reconciled
Joseph Marino
SVP-Chief Financial Officer
◇◇◇——◇◇◇
Karen Davis
Former SVP- Chief Financial Officer
Departed during or after this year
◇————◇◇◇
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. A negative change in pension value is shown but, as the company reports it, not included in the total.

Equity awards granted

Individual awards as disclosed: type, date, unit counts at each level, and grant date value.
Fiscal 2025
OfficerAwardGrant dateThreshold unitsTarget unitsUnits grantedMaximum unitsExercise priceGrant date fair value
Joseph MarinoPSU◇—◇—◇—◇
Joseph MarinoRSU◇——◇——◇
Joseph MarinoPSU◇—————◇
Matthew C. LuceyPSU◇—————◇
Matthew C. LuceyRSU◇——◇——◇
Matthew C. LuceyPSU◇—◇—◇—◇
T. Paul DavisPSU◇—◇—◇—◇
T. Paul DavisRSU◇——◇——◇
T. Paul DavisPSU◇—————◇
Thomas O’ConnorRSU◇——◇——◇
Thomas O’ConnorPSU◇—◇—◇—◇
Thomas O’ConnorPSU◇—————◇
Trecia M. CantyPSU◇—◇—◇—◇
Trecia M. CantyRSU◇——◇——◇
Trecia M. CantyPSU◇—————◇
Fiscal 2022, 2023 are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero. Threshold, target and maximum apply only to performance awards and are never shown for time-based or option awards.

Outstanding awards

Awards still held at fiscal year end.
As disclosed at fiscal 2025 year end
OfficerAwardUnvested unitsMarket value of unvested unitsExercise priceExpires
Thomas O'ConnorRSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
Joseph MarinoPSU◇◇——
PSU◇◇——
RSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
T. Paul DavisPSU◇◇——
PSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
Matthew LuceyPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
Trecia CantyPSU◇◇——
PSU◇◇——
RSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
Karen DavisPSU◇◇——
RSU◇◇——
RSU◇◇——
PSU◇◇——
PSU◇◇——
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Severance and change in control

The terms as written in the agreements.
Thomas O'Connor
Former SVP-Commodity Risk & Strategy · Severance agreement
Severance multiple◇
Severance base◇
Change-in-control multiple◇
Change-in-control base◇
Benefits continuation on change in control◇
Benefits continuation◇
Non-compete period◇

Director compensation

What each non-employee director was paid.
Fiscal 2025
DirectorFees earned in cashStock awardsOption awardsNon-equity incentivePension and deferred earningsAll other compensationTotal
S. Eugene Edwards
Lead independent director
◇◇————◇
Kimberly S. Lubel
◇◇————◇
Spencer Abraham
◇◇————◇
Lawrence M. Ziemba
◇◇————◇
Paul J. Donahue Jr
◇◇————◇
George E. Ogden
◇◇————◇
Georganne Hodges
◇◇————◇
Damian W. Wilmot
◇◇————◇
Thomas J. Nimbley
Board chair
◇◇————◇
Karen B. Davis
◇◇————◇
Matthew C. Lucey served on the board in fiscal 2025 and received no compensation for board service. Executive directors are typically paid through their executive roles, shown above.
Earlier years are included in the PDF.
A dash means the company reported no figure in that column. $0 is shown only where the filing prints a zero.

Director fee schedule

The standing retainers and premiums the board pays, as published.
Board cash retainer◇
Board equity retainer◇
Total board retainer◇
Equity is delivered as Class A Common Stock.

Disclosed peer group

The companies this board named as its compensation comparison group. The list is disclosure; the comparison is analysis.
Fiscal 2025
  • CVR Energy CVI
  • Delek US Holdings, Inc. DK
  • HF Sinclair Corporation DINO
  • Marathon Petroleum Corporation MPC
  • Phillips 66 Company PSX
  • Valero Energy Corporation VLO

Say-on-pay history

Shareholder support for the compensation program, by year.
YearMeetingSupportVotes forVotes againstAbstentions
2025April 28, 2026=◇◇◇
2024April 29, 2025=◇◇◇
2023April 30, 2024=◇◇◇
2022May 3, 2023=◇◇◇
2021May 26, 2022=◇◇◇
2020May 27, 2021=◇◇◇
2019June 4, 2020=◇◇◇
2018May 23, 2019=◇◇◇
2015May 3, 2016=◇◇◇

Chief executive pay ratio

As calculated and reported by the company.
Ratio
◇
Median employee compensation
◇
Chief executive total compensation
◇

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Sample answer — “What is the CEO’s total compensation?”
- Matthew Lucey (President and Chief Executive Officer), FY2025 total compensation $7,887,020 (base salary $1,250,000) [exec_comp, SEC accession 0001140361-26-009843, filed 2026-03-17]

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What this page does not include

Everything above is a fact PBF Energy disclosed, and it is free. Everything below is our analysis of those facts, and it is not.
Peer benchmarking
Where PBF Energy sits against its disclosed peers — percentile position by role and by pay element, and the ranking behind it. The disclosed peer group is free; comparisons across it are part of the Velarion platform.
Executive Compensation Report — $500
Written compensation analysis
A read of the pay program as designed and as paid: incentive structure, goal rigor, the alignment between the committee's stated philosophy and what the numbers show.
Executive Compensation Report — $500
Board and governance analysis
Committee composition, independence, director pay positioning, and the governance provisions read together rather than listed.
Board Governance Report — $500
Realizable pay
What the awards above are actually worth today against what they were valued at on grant, and what the gap says about the pay-for-performance link.
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Adviser switching and vote outcomes
Two datasets covering compensation-adviser changes and what followed a contested vote. Both are part of the Velarion platform.
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Citations

Every figure on this page is cited to the document that reported it. Select any figure to see its citation.
327 figures on this page: 318 cited to the filing that reported them, 9 calculated from figures it prints.
318 cited to the filing
9 calculated from the filing

Documents cited

  1. 0001534504-26-000020
  2. 0001140361-26-009843
    2025 SUMMARY COMPENSATION TABLE · DIRECTOR COMPENSATION · OUTSTANDING EQUITY AWARDS AT 2025 FISCAL YEAR-END · PAY RATIO DISCLOSURES
  4. 0001534504-25-000034
  5. 0001140361-25-009108
    2025 SUMMARY COMPENSATION TABLE
  6. 0001534504-24-000020
    Item 5.07 Submission of Matters to a Vote of Security Holders
  7. 0001140361-24-013581
    2023 SUMMARY COMPENSATION TABLE
  8. 0001534504-23-000020
    Item 5.07 Submission of Matters to a Vote of Security Holders
  9. 0001140361-23-012778
    2022 Summary Compensation Table
  10. 0001534504-22-000026
    Item 5.07 Submission of Matters to a Vote of Security Holders
  11. 0001534504-21-000017
    Item 5.07 Submission of Matters to a Vote of Security Holders
  12. 0001534504-20-000055
    Item 5.07 Submission of Matters to a Vote of Security Holders
  13. 0001534504-19-000022
    Item 5.07 Submission of Matters to a Vote of Security Holders
  14. 0001534504-16-000123
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Velarion, “PBF Energy executive compensation, FY2022–FY2025.” https://intel.velarion.ai/comp/PBF (accessed 2026).
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14 filings cited on this page
Method: intel.velarion.ai/methodology
A report that fails to generate is refunded in full
Published by Velarion Company Intelligence
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Energy rankings

Chief executive pay — EnergyCEO pay ratio — EnergySay-on-pay support — Energy

Peers PBF Energy discloses

The companies named in PBF's own disclosed peer group.

CVR EnergyDelek US Holdings, Inc.HF Sinclair CorporationMarathon Petroleum CorporationPhillips 66 CompanyValero Energy Corporation

Terms on this page

Say-on-Pay VoteCEO Pay RatioMedian Employee CompensationAll companies

Free to read and cite. Redistribution or bulk use of the dataset requires a data license. Talk to us about the data license.

Cite this data
APA
Velarion Company Intelligence. (2026). Velarion database: executive and board compensation data (Version 2026Q3) [Data set]. Zenodo. https://doi.org/10.5281/zenodo.22283854
BibTeX
@misc{velarionData2026,
  author = {{Velarion Company Intelligence}},
  title = {Velarion database: executive and board compensation data},
  year = {2026},
  version = {2026Q3},
  doi = {10.5281/zenodo.22283854},
  publisher = {Zenodo},
  url = {https://doi.org/10.5281/zenodo.22283854}
}
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