SEC Form 4 · accession 0001609253-17-000109
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
May 26, 2017
Accepted (ET)
May 31, 2017 · 6:56 pm EDT
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 | May 26, 2017 | F | 3,426 | $11.85 | D | 72,829 | D | |
| Common Stock | May 26, 2017 | M | 625 | $0.00 | A | 2,300 | I | By wife |
| Common Stock | May 26, 2017 | D | 625 | $11.85 | 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 UnitF2 | — | May 26, 2017 | M | 625 | D | May 26, 2017 | May 26, 2017 | Common Stock | 625 | 1,250 | I |
Explanation of responses
- F1Relates to a previously reported grant of Restricted Stock Units pursuant to California Resources Corporation's (CRC) Long-Term Incentive Plan.
- F2Each share of Phantom Stock (PS) was the economic equivalent of one share of CRC's common stock. The PS was part of a Phantom Stock Unit granted May 27, 2016, which vests in three (3) equal annual installments on May 26, 2017, 2018 and 2019, subject to a minimum payment equal to $8.00 per unit and a maximum payment equal to $32.00 per unit.