Form 4: California Resources Corp Director Neeman Brady Receives Restricted Stock Units

Director Nicole Elana Neeman Brady receives 3,705 restricted stock units (RSUs) from California Resources Corp.

Summary

• Nicole Elana Neeman Brady, a director of California Resources Corp (CRC), reported a transaction on May 3, 2024.
• She acquired 3,705 shares of common stock indirectly through the grant of restricted stock units (RSUs).
• Each RSU represents a contingent right to receive one share of CRC common stock.
• The 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, Neeman Brady beneficially owns 18,277 shares of CRC common stock.

Sentiment

Score: 7

Explanation: The document reflects a standard compensation practice (granting of RSUs) for a company director, suggesting a neutral to slightly positive sentiment as it aligns interests with shareholders.

Positives

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

Future Outlook

The RSUs 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.

Industry Context

This is a standard practice for compensating directors and aligning their interests with shareholders in publicly traded companies.

Comparison to Industry Standards

• Granting restricted stock units (RSUs) to directors is a common practice among publicly traded companies to align their interests with those of shareholders.
• Companies like ExxonMobil, Chevron, and ConocoPhillips also use equity-based compensation for their board members.
• The vesting schedules and terms of these grants can vary, but the underlying principle of incentivizing long-term value creation remains consistent.

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