Form 4: California Resources Corp Director William B. Roby Receives Restricted Stock Units

Director William B. Roby of California Resources Corp. was granted 3,705 restricted stock units (RSUs) on May 3, 2024, which will vest on May 3, 2025, and settle in shares of common stock after separation from service.

Summary

• On May 3, 2024, William B. Roby, a director of California Resources Corp., received 3,705 restricted stock units (RSUs).
• These RSUs represent a contingent right to receive one share of Common Stock each.
• 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 Roby's separation from service.
• Following the reported transaction, Roby beneficially owns 50,626 shares of Common Stock.

Sentiment

Score: 7

Explanation: The sentiment is neutral to slightly positive as it reflects standard compensation practices and aligns director interests with shareholders.

Positives

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

Risks

• The value of the RSUs is contingent on the future performance of California Resources Corp.'s stock price.
• The settlement of RSUs in shares of Common Stock after separation from service could be impacted by unforeseen circumstances.

Future Outlook

The RSUs will vest on May 3, 2025, and 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

This filing is a routine disclosure of insider transactions, which are common in publicly traded companies to align management and director interests with shareholders.

Stakeholder Impact

• Shareholders may view the RSU grant positively as it aligns the director's interests with the company's long-term success.

Key Dates