v3.25.4
STOCK-BASED COMPENSATION (Tables)
 12 Months Ended
Dec. 31, 2025
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Schedule of Stock-Based Compensation Expense
Stock-based compensation expense included in general and administrative expenses consisted of the following:
 Years Ended December 31,
(in millions)202520242023
PBF Energy options$0.0 $4.5 $11.9 
PBF Energy restricted shares31.4 21.7 17.9 
PBF Energy performance awards7.6 18.1 21.7 
Total stock-based compensation expense$39.0 $44.3 $51.5 
Schedule of Share-Based Payment Awards, Performance Awards, Valuation Assumptions
The grant date fair value was calculated using a Monte Carlo valuation model with the following assumptions:
December 31, 2025December 31, 2024December 31, 2023
Expected life (in years)
3.18
2.82 - 3.04
2.86 - 3.18
Expected volatility
63.25%
53.66% - 56.02%
56.68% - 59.98%
Dividend yield
3.34%
2.07% - 3.93%
1.73% - 1.80%
Risk-free rate of return
3.47%
4.17% - 4.35%
4.40% - 4.75%
Weighted average grant-date fair value per PSU$40.25 $34.04 $56.35 
Summary of Share-Based Compensation Activity
The following table summarizes activity for PBF Energy options for 2025:
Number of
PBF Energy
Class A
Common
Stock Options		Weighted
Average
Exercise Price		Weighted
Average
Remaining
Contractual
Life
(in years)
Stock-based awards, outstanding at January 1, 20256,430,875 $24.36 4.18
Exercised(983,802)23.22 — 
Forfeited(63,990)29.32 — 
Outstanding at December 31, 20255,383,083 $24.51 3.10
Exercisable and vested at December 31, 20255,383,083 $24.51 3.10
Total expected to vest as of December 31, 2025— $— — 
The following table summarizes activity for PBF Energy restricted stock:
Number of
PBF Energy
Restricted Class A
Common Stock		Weighted Average
Grant Date
Fair Value
Nonvested at January 1, 2025
1,923,895 $32.60 
Granted846,855 31.18 
Vested(798,280)34.56 
Forfeited(60,154)30.23 
Nonvested at December 31, 2025
1,912,316 $31.24 
Unrecognized compensation expense related to PBF Energy Restricted Class A common stock at December 31, 2025 was $32.2 million, which will be recognized from 2026 through 2028.
The following table reflects activity related to our restricted stock:
December 31, 2025December 31, 2024December 31, 2023
Weighted-average grant-date fair value per share of restricted stock granted$31.18 $28.60 $44.90 
Fair value of restricted stock vested (in millions)
$27.6 $15.5 $11.2 
The following table summarizes activity for PBF Energy performance share awards:
Number of
PBF Energy
Performance Share Units (“PSU”)		Weighted Average
Grant Date
Fair Value
Nonvested at January 1, 2025612,410 $44.14 
Granted228,771 40.25 
Vested(5,212)39.70 
Forfeited(186,927)46.85 
Nonvested at December 31, 2025649,042 $42.02 
PBF Energy | Performance Units  
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]  
Summary of Share-Based Compensation Activity
The following table summarizes activity for PBF Energy performance unit awards:
Number of
PBF Energy
Performance Units
Nonvested at January 1, 202546,004,030 
Granted16,741,373 
Vested(350,027)
Forfeited(15,367,121)
Nonvested at December 31, 202547,028,255