Form 4: California Resources COO Omar Hayat Reports PSU Vesting and Tax-Related Share Sale

California Resources Corp's EVP & Chief Operating Officer, Omar Hayat, reported the vesting of performance stock units and a subsequent sale of shares to cover tax obligations.

Summary

• Omar Hayat, EVP & Chief Operating Officer of California Resources Corp (CRC), reported transactions related to his beneficial ownership.
• On July 29, 2025, 18,986 shares of Common Stock were acquired due to the vesting of performance stock units (PSUs).
• These PSUs were originally granted on May 8, 2023, and June 19, 2023, with performance criteria certified on July 29, 2025.
• Concurrently, 10,225 shares of Common Stock were disposed of at a price of $50.22 per share to satisfy tax withholding obligations related to the PSU vesting.
• Following these transactions, Omar Hayat beneficially owns 52,683 shares of Common Stock directly.

Sentiment

Score: 7

Explanation: The sentiment is moderately positive. The vesting of PSUs indicates successful achievement of performance targets, which is a positive for the company and the executive. The subsequent sale for tax purposes is a neutral, routine event.

Positives

• The vesting of 18,986 performance stock units indicates that performance criteria set by the company were met, aligning executive compensation with company success.

Negatives

• A disposition of 10,225 shares occurred to cover tax withholding, which is a standard practice but reduces the executive's direct shareholding.

Future Outlook

This Form 4 filing does not contain forward-looking statements or guidance.

Industry Context

This filing details an individual executive's compensation-related stock transactions, which is a routine event in publicly traded companies and does not directly reflect broader industry trends or competitive dynamics.

Comparison to Industry Standards

• The vesting of performance stock units and subsequent sale of shares for tax withholding is a standard practice for executive compensation in many industries, including the energy sector where California Resources Corp operates.
• The specific value of the shares and the number of units vested are particular to California Resources Corp's compensation plan and Omar Hayat's performance, and are not directly comparable to other companies without detailed compensation plan specifics.

Stakeholder Impact

• Shareholders: The vesting of PSUs indicates that the company's performance targets, which underpin executive incentives, have been met. The sale of shares for tax purposes is a minor, routine transaction that does not significantly impact the overall share float or price.
• Employees: This filing pertains to executive compensation and does not directly impact the broader employee base.

Key Dates

Recommendation

This Form 4 filing details a routine executive compensation event (PSU vesting and tax-related share sale) and does not provide new information that would fundamentally alter the investment thesis for California Resources Corp. It confirms that performance targets were met, which is a positive, but the transaction itself is not a strong buy or sell signal.

Keywords

California Resources Corp, CRC, Omar Hayat, Form 4, SEC filing, insider transaction, performance stock units, PSUs, executive compensation, share vesting, tax withholding