STOCK-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2014

Disclosure of Compensation Related Costs, Share-based Payments [Abstract]

Schedule of stock-based compensation expense

Stock-based compensation expense included in general and administrative expenses consisted of the following:

	Years Ended December 31,
	2014		2013		2012
PBF LLC Series A Unit compensatory warrants and options	$	522	$	779	$	1,589
PBF LLC Series B Units	—		530		1,277
PBF Energy options	5,573		2,444		88
	$	6,095	$	3,753	$	2,954

Weighted average assumptions

The estimated fair value of compensatory PBF LLC Series A warrants and options granted during the year ended December 31, 2012 was determined using the Black-Scholes pricing model with the following weighted average assumptions:

	Years Ended December 31,
	2012
Expected life (in years)	6.00
Expected volatility	55.00%
Dividend yield	1.00%
Risk-free rate of return	0.91%
Exercise price	$12.55

The estimated fair value of PBF Energy options granted during the years ended December 31, 2014, 2013 and 2012 was determined using the Black-Scholes pricing model with the following weighted average assumptions:

	December 31, 2014			December 31, 2013			December 31, 2012
Expected life (in years)	6.25			6.25			6.25
Expected volatility	52.0		%	52.1		%	51.0		%
Dividend yield	4.82		%	4.43		%	3.01		%
Risk-free rate of return	1.80		%	1.53		%	0.89		%
Exercise price	$	24.78		$	27.79		$	26.00

Summary of Share-based compensation activity

The following table summarizes activity for PBF LLC Series A compensatory warrants and options for the years ended December 31, 2014, 2013 and 2012:

	Number of PBF LLC Series A Compensatory Warrants and Options		Weighted Average Exercise Price		Weighted Average Remaining Contractual Life (in years)
Stock Based Compensation, Outstanding at January 1, 2012	1,835,579		$	10.00	8.99
Granted	205,000		12.55		10.00
Exercised	(849,186	)	10.00		—
Forfeited	(6,667	)	10.00		—
Outstanding at December 31, 2012	1,184,726		$	10.44	8.23
Granted	—		—		—
Exercised	(301,979	)	10.11		—
Forfeited	(41,668	)	11.27		—
Outstanding at December 31, 2013	841,079		$	10.52	7.40
Granted	—				—
Exercised	(32,934	)	10.00		—
Forfeited	(6,666	)	11.59		—
Outstanding at December 31, 2014	801,479		$	10.53	6.41
Exercisable and vested at December 31, 2014	753,985		$	10.41	6.34
Exercisable and vested at December 31, 2013	545,247		$	10.24	7.23
Exercisable and vested at December 31, 2012	608,039		$	10.00	8.00
Expected to vest at December 31, 2014	801,479		$	10.53	6.41

	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, 2012	—		$	—	—
Granted	682,500		26.00		10.00
Exercised	—		—		—
Forfeited	—		—		—
Outstanding at December 31, 2012	682,500		$	26.00	9.95
Granted	697,500		27.79		10.00
Exercised	—		—		—
Forfeited	(60,000	)	25.36		—
Outstanding at December 31, 2013	1,320,000		$	26.97	9.33
Granted	1,135,000		24.78		10.00
Exercised	—		—		—
Forfeited	(53,125	)	25.44		—
Outstanding at December 31, 2014	2,401,875		$	25.97	8.67
Exercisable and vested at December 31, 2014	485,000		$	26.66	8.21
Exercisable and vested at December 31, 2013	158,125		$	26.00	8.95
Exercisable and vested at December 31, 2012	—		$	—	—
Expected to vest at December 31, 2014	2,401,875		$	25.97	8.67

Summary of activity for PBF LLC Series B Units

The following table summarizes activity for PBF LLC Series B Units for the years ended December 31, 2013 and 2012:

	Number of PBF LLC Series B units		Weighted Average Grant Date Fair Value
Non-vested units at January 1, 2012	500,000		$	5.11
Allocated	—		—
Vested	(250,000	)	5.11
Forfeited	—		—
Non-vested units at December 31, 2012	250,000		$	5.11
Allocated	—		—
Vested	(250,000	)	5.11
Forfeited	—		—
Non-vested units at December 31, 2013	—		$	—