Steven Andriola
PBF EnergyAbout Steven Andriola
Steven John Andriola is Chief Accounting Officer (CAO) and Controller of PBF Energy, appointed effective October 1, 2025; he has served as Controller since July 2023 and joined PBF in 2016 after roles at NRG Home Solar and EY. He is 42 years old and holds a Bachelor of Science from Monmouth University . Company performance context for FY 2024: total shareholder return (TSR) value of an initial $100 investment = $90.10, net income = $(540.2) million, EBITDA = $(68.8) million; PBF’s incentive programs emphasize Adjusted EBITDA and ESG in cash bonuses and relative TSR for long-term awards .
Past Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| PBF Energy | Chief Accounting Officer (also Controller) | CAO effective Oct 1, 2025; Controller since Jul 2023 | Senior finance leadership overseeing accounting and reporting |
| PBF Energy | Sr. Director & Assistant Controller | From Sep 2020 | Technical accounting and financial reporting leadership |
| PBF Energy | Director, Financial Reporting | 2016–2020 | SEC financial reporting (10‑K/10‑Q) leadership |
| NRG Home Solar | Manager, Financial Reporting & Research | 2015–2016 | Financial reporting in energy sector |
| Ernst & Young (EY) | Senior Manager | 2005–2015 | Audit and technical accounting in oil & gas and industrials |
External Roles
| Organization | Role | Years | Strategic Impact |
|---|---|---|---|
| Monmouth University | Bachelor of Science | 2001–2005 | Foundational education in accounting/finance |
Fixed Compensation
| Component | Value | Effective Date | Notes |
|---|---|---|---|
| Base Salary | $325,000 | Oct 1, 2025 | Per Item 5.02 8‑K appointment |
| Target Bonus % | Not disclosed | — | Eligible to receive annual incentive bonus; percent not specified |
| Actual Bonus Paid | Not disclosed | — | No specific bonus disclosed for Andriola |
| Equity Eligibility | Eligible | Oct 1, 2025 | Eligible for equity awards as approved by Board |
Performance Compensation
| Plan | Metric | Weighting | Target | Actual | Payout Terms | Vesting |
|---|---|---|---|---|---|---|
| Annual Cash Incentive (Company program) | Adjusted EBITDA | 90% (2022–2024 plan) | Committee-set | Not disclosed | Drives cash bonus outcomes | Annual |
| Annual Cash Incentive (Company program) | ESG (health, safety, environment) | 10% (2022–2024 plan) | Committee-set | Not disclosed | Supplementary operational metrics | Annual |
| Long-Term Incentive (Company program) | Relative TSR vs refining peer group | 100% of PSUs/Performance Units | Threshold 0%, Target 100%, Max 200% | Not disclosed | PSUs settle in Class A stock; PUs settle in cash | Over performance cycle per award |
Company-level program design: restricted stock vests in three equal installments beginning on the first anniversary of grant for NEOs (general design disclosure); PSUs/PUs settle based on relative TSR outcomes. Andriola’s specific award agreements/vesting schedules are not disclosed in proxy tables (he was not an NEO in 2024) .
Equity Ownership & Alignment
- Company prohibits hedging, pledging, and short selling of PBF stock for directors and employees .
- Officers are subject to stock ownership guidelines by role; NEOs met guidelines; specific threshold for CAO not enumerated in proxy .
| Date | Transaction | Shares | Price | Post-Transaction Holdings | Notes |
|---|---|---|---|---|---|
| Oct 1, 2025 | Form 3/A filed (became reporting officer) | — | — | — | Initial statement as Controller & CAO |
| Oct 28, 2025 | Restricted stock grant | 6,101 | — | — | RSU/Restricted stock grant reported via Form 4 |
| Nov 3, 2025 | Open-market sale | 1,048 | $34.39 | 20,974 (direct) | Form 4; title “Controller & CAO”; sale code “S” |
No shares listed as pledged; insider policy prohibits pledging/hedging .
Employment Terms
| Term | Detail | Source |
|---|---|---|
| Appointment | Appointed Chief Accounting Officer in addition to Controller, effective Oct 1, 2025 | |
| Base Salary | $325,000 | |
| Incentives | Eligible for annual incentive bonus and equity awards as approved by Board | |
| Agreement Terms | No severance/change-of-control specifics disclosed for Andriola | |
| Company Policy Signals | Employment agreements limit change-of-control payments to ≤2.99x base salary; clawback applies to NEOs upon accounting restatement |
Performance & Track Record (Company Context During Tenure)
| Metric | FY 2024 | Notes |
|---|---|---|
| TSR (Initial $100 →) | $90.10 | PvP disclosure |
| Peer Group TSR (Initial $100 →) | $168.71 | PvP disclosure |
| Net Income ($ millions) | $(540.2) | PvP disclosure |
| EBITDA ($ millions) | $(68.8) | PvP disclosure |
Additional governance/performance context in 2024: annual cash incentive metrics include Adjusted EBITDA and ESG; LTI awards are entirely tied to relative TSR; company increased its quarterly dividend to $0.275 in October 2024 and executed share repurchases since 2022 .
Investment Implications
- Alignment: As CAO/Controller, Andriola participates in a program that tightly links pay to Adjusted EBITDA/ESG for cash incentives and relative TSR for equity, supporting pay-for-performance alignment; hedging/pledging prohibitions reduce misalignment risk .
- Insider flow/pressure: Reported restricted stock grant on 10/28/2025 and a modest open-market sale of 1,048 shares on 11/03/2025, leaving 20,974 shares directly owned; activity suggests routine administration rather than significant selling pressure .
- Retention risk: Base salary set at $325,000 with eligibility for cash bonus and equity; specific severance/CIC terms not disclosed for him, though company caps CIC payments under employment agreements at 2.99x base salary and has clawbacks for NEOs—policies that reduce shareholder risk of outsized parachutes while potentially limiting retention hooks .
- Execution context: FY 2024 negative net income/EBITDA and below-par TSR vs peers highlight a tougher backdrop; finance/accounting leadership continuity through the CFO transition (Aug–Oct 2025) where Andriola became CAO may be relevant for governance and reporting stability .