Form 4: California Resources Corp Executive Gould Reports Stock Transactions

Christopher D. Gould, EVP & Chief Sustainability Officer of California Resources Corp, reports acquisition and disposal of common stock and derivative securities related to vesting of restricted stock units (RSUs) and performance stock units (PSUs).

Summary

• Christopher D. Gould, EVP & Chief Sustainability Officer of California Resources Corp, filed a Form 4 detailing changes in beneficial ownership.
• On February 22, 2025, 2,835 shares of common stock were disposed of to cover tax withholding for vested RSUs at a price of $47.35.
• On February 23, 2025, 33,448 shares were acquired related to the vesting of PSUs granted on February 23, 2023.
• An additional 21,812 shares were disposed of on February 23, 2025, to cover tax withholding for vested RSUs and PSUs at a price of $47.35.
• On February 25, 2025, 20,638 RSUs were granted, vesting in three equal annual installments starting February 25, 2026.
• Following these transactions, Gould beneficially owns 114,095 shares of common stock.

Sentiment

Score: 5

Explanation: The document primarily reports routine stock transactions related to executive compensation, indicating a neutral sentiment.

Future Outlook

The granted RSUs will vest in three equal annual installments on each of February 25, 2026, 2027 and 2028.

Industry Context

Executive stock transactions are common and provide insight into management's perspective on the company's performance and future prospects; however, in this case, the transactions are primarily related to vesting of previously granted equity and tax obligations.

Comparison to Industry Standards

• Executive compensation packages often include stock and option awards to align management's interests with those of shareholders.
• Vesting schedules for RSUs and PSUs typically range from three to five years, which is consistent with the vesting schedule outlined in the document.
• Tax withholding practices related to equity compensation are standard across publicly traded companies.

Stakeholder Impact

• The transactions may have a minor impact on shareholders due to the change in Gould's holdings, but the overall effect is likely minimal.
• Employees may be interested in the details of executive compensation and equity ownership.

Key Dates