PBF Energy Inc. Form 8-K Summary
Business Context and Reporting Period
This Current Report on Form 8-K was filed by PBF Energy Inc. on December 6, 2019, covering events occurring on December 3, 2019, and December 5, 2019. The filing primarily addresses corporate governance changes regarding the Board of Directors.
Financial Metrics
The filing text does not provide a clear value for revenue, profit, cash flow, margins, debt, or liquidity. This report focuses exclusively on the election of a director and does not contain financial performance data.
Material Changes
The material change reported is the election of Karen B. Davis as an independent director of the Company, effective January 1, 2020. Ms. Davis was appointed to serve as a member of the Board's Audit Committee. The Board confirmed that she meets the independence requirements of the New York Stock Exchange and the Company's standards.
Guidance, Outlook, and Compensation
Ms. Davis will participate in the Company's standard compensation program for non-employee, outside directors. This includes a pro-rated annual cash retainer and a pro-rated grant of restricted shares of the Company's Class A common stock. Additionally, the Company will enter into its standard form of indemnification agreement with Ms. Davis. No financial guidance, outlook, or risk factors were disclosed in this specific filing.
Key Facts for Investor Verification
- Karen B. Davis was elected as an independent director effective January 1, 2020.
- Ms. Davis will serve on the Audit Committee.
- Compensation includes a pro-rated cash retainer and restricted stock grant.
- No financial performance data is contained in this filing.