SEC Form 4 · accession 0001609253-17-000122
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
Jul 8, 2017
Accepted (ET)
Jul 11, 2017 · 5:50 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,F2 | Jul 8, 2017 | M | 159 | $0.00 | A | 2,084 | I | By wife |
| Common Stock | Jul 8, 2017 | D | 79 | $7.35 | D | 2,005 | I | By wife |
| Common Stock | Jul 8, 2017 | F | 30 | $7.35 | D | 1,975 | I | By wife |
| Common Stock | holding | — | — | — | 72,829 | D |
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Long-Term Incentive Award (Right to Buy)F1 | $0.00 | Jul 8, 2017 | M | 159 | D | Jul 8, 2017 | Jul 8, 2017 | Common Stock | 159 | 0 | I |
Explanation of responses
- F1Reflects the vesting of one-third of 477 (post-split) long-term incentive units granted to the Reporting Person's wife on July 9, 2014, which were converted in connection with the spin-off of California Resources Corporation (CRC) from Occidental Petroleum Corporation in a manner intended to preserve the pre-spin off value of the units. Each unit was the economic equivalent of one share of CRC's common stock. Half of the award was settled for shares of CRC's common stock and half was settled for cash.
- F2Includes 250 shares acquired by the Reporting Person's wife under CRC's Employee Stock Purchase Plan on June 30, 2017.