Form 4: California Resources Corp Director Saadati Receives Stock Grant

Director Bobby Saadati of California Resources Corp. reports receiving a grant of 3,365 restricted stock units (RSUs) on July 1, 2024.

Summary

• Bobby Saadati, a director of California Resources Corp (CRC), filed a Form 4 with the SEC.
• The filing reports that on July 1, 2024, Saadati acquired 3,365 shares of common stock through a grant of restricted stock units (RSUs).
• Each RSU represents a contingent right to receive one share of CRC's common stock.
• The RSUs will vest on May 3, 2025.
• Subject to certain exceptions, the RSUs will be settled in shares of common stock three months and one day following Saadati's separation from service.

Sentiment

Score: 5

Explanation: The document is a neutral regulatory filing. It doesn't inherently indicate positive or negative sentiment, but rather reports a transaction.

Future Outlook

The RSUs will be settled in shares of common stock three months and one day following Saadati'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.

Stakeholder Impact

• The grant of RSUs aligns the director's interests with those of the shareholders.

Key Dates