Mark Allen McFarland - Apr 28, 2023 Form 4 Insider Report for California Resources Corp (CRC)

Role
Director
Signature
/s/ Ulrik Damborg, Attorney-in-Fact for Mark Allen McFarland
Stock symbol
CRC
Transactions as of
Apr 28, 2023
Transactions value $
-$586,076
Form type
4
Date filed
5/2/2023, 05:09 PM
Previous filing
Mar 24, 2023
Next filing
Mar 26, 2024

Transactions Table

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Ownership Footnotes
transaction CRC Common Stock Award $0 +5.03K +1.62% $0.00 315K Apr 28, 2023 Direct F1, F2
transaction CRC Common Stock Disposed to Issuer $0 -85.3K -27.06% $0.00 230K Apr 28, 2023 Direct F3
transaction CRC Common Stock Options Exercise +325K +141.42% 555K Apr 28, 2023 Direct F4
transaction CRC Common Stock Tax liability -$586K -14.5K -2.61% $40.50 540K Apr 28, 2023 Direct F5

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 Options Exercise -325K -100% 0 Apr 28, 2023 Common Stock 325K Direct F4
* 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. These RSUs will vest on April 28, 2024 and, subject to certain exceptions, will be settled in shares of Common Stock on the date that is six months and one day following the Reporting Person's separation from service.
F2 Includes 250 shares acquired under the California Resources Corporation Employee Stock Purchase Plan on March 31, 2023.
F3 Represents the forfeiture of RSUs due to the Reporting Persons's voluntary termination on April 28, 2023.
F4 Represents vesting of performance share units ("PSUs") originally granted on March 22, 2021, which vested in connection with the Reporting Person's voluntary termination on April 28, 2023. Pursuant to the terms of the PSU award, settlement will occur within 45 days following the end of the initial three-year performance period.
F5 Represents shares cancelled for payment of taxes on units vested due to the Reporting Person's voluntary termination on April 28, 2023.