Form 4: California Resources Corp Director Bremner Receives Restricted Stock Units

Director Andrew B. Bremner of California Resources Corp received 3,705 restricted stock units (RSUs) on May 3, 2024, which will vest on May 3, 2025.

Summary

• Andrew B. Bremner, a director of California Resources Corp, filed a Form 4 on May 7, 2024, reporting a transaction.
• On May 3, 2024, Bremner acquired 3,705 shares of Common Stock through the grant of restricted stock units (RSUs) at a price of $0.
• These RSUs will vest on May 3, 2025, and will be settled in shares of Common Stock three months and one day following the Reporting Person's separation from service, subject to certain exceptions.
• Following the transaction, Bremner beneficially owns 22,193 shares of Common Stock.

Sentiment

Score: 6

Explanation: The sentiment is neutral. It's a routine filing related to executive compensation.

Positives

• The grant of RSUs aligns the director's interests with those of the shareholders, incentivizing him to work towards the company's success.

Future Outlook

The RSUs will be settled in shares of Common Stock on the date that is three months and one day following the Reporting Person's separation from service, subject to certain exceptions.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This filing indicates that a director has received compensation in the form of equity, which is a common practice.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it aligns the director's interests with the company's long-term performance.

Key Dates