Jay A. Bys - May 12, 2021 Form 4 Insider Report for California Resources Corp (CRC)

Role: EVP & Chief Commercial Officer
Signature: /s/ Ulrik Damborg, Attorney-in-Fact for Jay A. Bys
Stock symbol: CRC
Transactions as of: May 12, 2021
Transactions value $: $0
Form type: 4
Date filed: 5/14/2021, 06:13 PM
Next filing: Mar 24, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CRC	Common Stock	Award	$0	+61.3K		$0.00	61.3K	May 12, 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CRC	Performance Stock Units	Award	$0	+61.3K		$0.00	61.3K	May 12, 2021	Common Stock	61.3K		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	Represents a grant of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of Common Stock. 16,721 RSUs will vest on January 25, 2022; 22,294 RSUs will vest on January 25, 2023; and 22,294 RSUs will vest on January 25, 2024. Subject to certain exceptions, the RSUs will be settled in shares of Common Stock within 45 days following the final vesting date.
F2	Represents the target number of performance stock units ("PSUs"). Each PSU represents a contingent right to receive one share of Common Stock. The actual number of PSUs that vest and become earned is based on the volume-weighted average price of a share of Common Stock as determined over any 60 consecutive trading days during the performance period which ends on January 25, 2024, and, subject to certain exceptions, will be settled in shares of Common Stock within 45 days following the end of the performance period.

Content

Represents a grant of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of Common Stock. 16,721 RSUs will vest on January 25, 2022; 22,294 RSUs will vest on January 25, 2023; and 22,294 RSUs will vest on January 25, 2024. Subject to certain exceptions, the RSUs will be settled in shares of Common Stock within 45 days following the final vesting date.

Represents the target number of performance stock units ("PSUs"). Each PSU represents a contingent right to receive one share of Common Stock. The actual number of PSUs that vest and become earned is based on the volume-weighted average price of a share of Common Stock as determined over any 60 consecutive trading days during the performance period which ends on January 25, 2024, and, subject to certain exceptions, will be settled in shares of Common Stock within 45 days following the end of the performance period.