SEC Form 4 · accession 0001609253-17-000036
California Resources Corp · CRC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Robert A. Barnes
Officer — EVP - Operations
Period of report
Feb 13, 2017
Accepted (ET)
Feb 15, 2017 · 8:35 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 StockF2 | Feb 13, 2017 | A | 33,228 | $0.00 | A | 74,038 | D | |
| Common StockF3 | Aug 4, 2016 | M | 317 | $0.00 | A | 1,992 | I | By wife |
| Common Stock | Aug 4, 2016 | D | 317 | $9.22 | D | 1,675 | I | By wife |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Phantom Stock UnitF4 | — | Feb 13, 2017 | A | 1,649 | A | — | Feb 12, 2020 | Common Stock | 1,649 | 1,649 | I |
| Phantom Stock UnitF3 | — | Aug 4, 2016 | M | 317 | D | Aug 4, 2016 | Aug 4, 2016 | Common Stock | 317 | 636 | I |
Explanation of responses
- F1Grant of Restricted Stock Units (RSUs) pursuant to California Resources Corporation's (CRC) Long-Term Incentive Plan.
- F2The RSUs will vest in three (3) equal annual installments on February 12, 2018, 2019, and 2020.
- F3Each Phantom Stock Units (PSUs) was the economic equivalent of one share of CRC common stock. The reporting person's wife settled one-third of the PSU in cash at the scheduled vesting date.
- F4The newly granted PSUs will vest in three (3) equal installments on February 12, 2018, 2019 and 2020.