Form 4: California Resources Corp Director Tiffany Thom Cepak Receives Restricted Stock Units

Director Tiffany Thom Cepak received 6,021 restricted stock units (RSUs) from California Resources Corp on May 3, 2024, which will vest on May 3, 2025.

Summary

• On May 3, 2024, Tiffany Thom Cepak, a director of California Resources Corp, was granted 6,021 restricted stock units (RSUs).
• Each RSU represents a contingent right to receive one share of Common Stock.
• The RSUs will vest on May 3, 2025.
• Subject to certain exceptions, the RSUs will be settled in shares of Common Stock on the date that is three months and one day following Cepak's separation from service.

Sentiment

Score: 7

Explanation: The document indicates a standard executive compensation practice, suggesting stability and alignment of interests. The sentiment is neutral to slightly positive.

Positives

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

Grants of restricted stock units are a common form of executive compensation in the energy industry, aligning management's interests with those of shareholders.

Stakeholder Impact

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

Key Dates