Form 4: California Resources Corp Director Bremner Receives Stock Grant
SEC Form 4 Filing
Director Andrew B. Bremner of California Resources Corp received a grant of 5,698 restricted stock units (RSUs) on May 2, 2025.
Summary
- Andrew B. Bremner, a director of California Resources Corp, filed a Form 4 to report changes in beneficial ownership.
- On May 2, 2025, Bremner acquired 5,698 shares of Common Stock through a grant of restricted stock units (RSUs).
- The RSUs vest on May 2, 2026, and will be settled in shares of Common Stock three months and one day following Bremner's separation from service, subject to certain exceptions.
- Following the reported transaction, Bremner beneficially owns 27,891 shares of Common Stock.
Sentiment
Score: 6
Explanation: The sentiment is neutral as it reflects a standard executive compensation practice. The grant of RSUs is generally viewed positively as it aligns management's interests with shareholders, but it's a routine event.
Positives
- The grant of RSUs to a director aligns their interests with those of the shareholders.
- The vesting schedule encourages long-term commitment from the director.
Risks
- The value of the RSUs is dependent on the future performance of California Resources Corp's Common Stock.
- The settlement of RSUs is contingent on Bremner's continued service with the company.
Future Outlook
The RSUs will vest on May 2, 2026, and will be settled in shares of Common Stock three months and one day following Bremner's separation from service, subject to certain exceptions.
Industry Context
This filing is a routine disclosure related to executive compensation and is common in publicly traded companies. It reflects a component of director compensation tied to the company's stock performance.
Stakeholder Impact
- Shareholders may view the RSU grant as a positive incentive for the director to focus on long-term value creation.
- Employees may see this as a standard part of executive compensation.
Key Dates
| Date | Description |
|---|---|
| 05/02/2025 | Date of transaction: Grant of restricted stock units (RSUs). |
| 05/02/2026 | Vesting date of the RSUs. |
| Three months and one day following separation from service | Date of settlement of RSUs into shares of Common Stock. |
| 05/06/2025 | Date of signature on the Form 4 filing. |
Keywords
Form 4, California Resources Corp, Director, Andrew B. Bremner, Restricted Stock Units, RSUs, Beneficial Ownership, CRC, Stock Grant, Vesting
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