SEC Form 4/A · accession 0001609253-15-000007
California Resources Corp · CRC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
This is an amendment (Form 4/A). It replaces an earlier filing for the same period.
Reporting owner
Michael S. Helm
Officer — Vice President and Controller
Period of report
Dec 4, 2014
Accepted (ET)
Jan 29, 2015 · 7:15 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001609253
Table I — non-derivative securities
| Security | Date | Code | Shares | Price | A/D | Owned after | D/I | Nature of ownership |
|---|---|---|---|---|---|---|---|---|
| Common StockF1 | Dec 4, 2014 | J | 58,470 | $0.00 | A | 62,321 | D | |
| Common Stock | Dec 5, 2014 | P$0 | 5,500 | $0.00 | A | 67,821 | D |
Table II — derivative securities
No Table II lines on this filing.
Explanation of responses
- F1Reflects Occidental restricted stock awards converted into CRC restricted stock awards effective November 30, 2014 as a result of the spin-off of CRC from Occidental that remain subject to the original time-based vesting schedules, as follows: (i) 10,978 shares vest in two equal installments on July 21, 2015 and July 21, 2016; (ii) 17,769 shares vest on December 31, 2016 and (iii) 29,723 shares vest on July 8, 2017. Occidental restricted stock awards converted into CRC restricted stock awards based on the volume weighted average per share prices of Occidental and CRC common stock on the four-day trading periods ended November 28, 2014, and December 4, 2014, respectively, and certain other performance assumptions set forth in the Employee Matters Agreement between Occidental and CRC dated November 25, 2014. The original Form 4 filed on December 4, 2014, inadvertently reported greater ownership of shares in subsection "(i)" of this footnote and Items 4 and 5 of this Form.