SEC Form 4 · accession 0001609253-19-000032
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 19, 2019
Accepted (ET)
Feb 21, 2019 · 6:51 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 19, 2019 | A | 19,807 | A | — | — | Common Stock | 19,807 | 19,807 | D |
| Employee Stock Option (Right to Buy)F3 | $23.88 | Feb 19, 2019 | A | 8,302 | A | — | Feb 18, 2026 | Common Stock | 8,302 | 8,302 | D |
Explanation of responses
- F1Grant of Restricted Stock Units (RSUs) pursuant to the California Resources Corporation Long-Term Incentive Plan. Upon vesting, the RSUs will be settled 50% in shares of common stock and 50% in cash.
- F2The RSUs vest in three equal annual installments beginning February 18, 2020.
- F3The options vest in three equal annual installments beginning February 18, 2020.