SEC Form 4 · accession 0001609253-18-000036
California Resources Corp · CRC
Statement of changes in beneficial ownership, as filed. Original on EDGAR ↗
Reporting owner
Michael L. Preston
Officer — EVP, GC and Corp. Secretary
Period of report
Feb 21, 2018
Accepted (ET)
Feb 23, 2018 · 7:41 pm EST
Rule 10b5-1 plan
unknown — predates the checkbox
Issuer CIK
0001609253
Table I — non-derivative securities
No Table I lines on this filing.
Table II — derivative securities
| Security | Conv. / exercise price | Date | Code | Shares | A/D | Exercisable | Expires | Underlying | Underlying shares | Owned after | D/I |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Restricted Stock UnitF1,F2 | — | Feb 21, 2018 | A | 22,901 | A | — | — | Common Stock | 22,901 | 22,901 | D |
| Employee Stock Option (right to buy)F3 | $20.17 | Feb 21, 2018 | A | 10,480 | A | — | Feb 20, 2025 | Common Stock | 10,480 | 10,480 | D |
Explanation of responses
- F1Restricted Stock Units (RSUs) granted pursuant to California Resources Corporation's (CRC) Long-Term Incentive Plan will be settled upon vesting 60% in shares of CRC common stock and 40% in cash.
- F2The RSUs will vest in three (3) equal installments beginning on February 20, 2019, 2020 and 2021.
- F3The Stock Options will vest in three (3) equal installments beginning on February 20, 2019, 2020 and 2021.