Form 4: California Resources Corp Director Sells Shares to Cover Tax Obligations

Mark Allen McFarland, a director at California Resources Corp, sold shares to cover tax obligations related to the vesting of restricted stock units.

Summary

• On March 22, 2024, Mark Allen McFarland, a director of California Resources Corp, engaged in a transaction involving the company's common stock.
• McFarland surrendered 222,024 shares to satisfy tax withholding requirements related to restricted stock units (RSUs) that vested on the same date.
• The shares were sold at a price of $53.06 per share.
• Following the transaction, McFarland directly owns 318,234 shares of California Resources Corp.
• The RSUs were initially awarded on March 22, 2021, and vested according to the terms of the awards.
• Each RSU represents a contingent right to receive one share of common stock of the Issuer.

Sentiment

Score: 5

Explanation: The document describes a routine transaction related to executive compensation and tax obligations. It doesn't indicate any significant positive or negative sentiment.

Industry Context

Form 4 filings are a routine part of corporate governance, providing transparency into the transactions of company insiders. This transaction is related to tax obligations arising from vested RSUs, a common form of executive compensation.

Stakeholder Impact

• The transaction has a minimal impact on shareholders as it is a routine sale to cover tax obligations.

Key Dates