SEC Form 4 · accession 0001609253-19-000050
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 20, 2019
Accepted (ET)
Feb 22, 2019 · 5:50 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 StockF1 | Feb 20, 2019 | M | 7,635 | — | A | 61,917 | D | |
| Common Stock | Feb 20, 2019 | D | 3,054 | $22.18 | D | 58,863 | D | |
| Common Stock | Feb 20, 2019 | F | 732 | $22.18 | D | 58,131 | D |
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 20, 2019 | M | 7,635 | D | — | — | Common Stock | 7,635 | 15,266 | D |
Explanation of responses
- F1Reflects the vesting of one-third of 22,901 Restricted Stock Units (RSUs) granted on February 21, 2018. Each RSU was the economic equivalent of one share of California Resources Corporation (CRC) common stock. On February 20, 2019, 3,054 of the reporting person's RSUs were settled for cash, and the remaining 4,581 were settled for an equal number of shares of CRC common stock.
- F2One-third of the RSUs vested on February 20, 2019; the remaining RSUs vest in two equal annual installments beginning February 20, 2020.