Form 4: California Resources Corp: Senior VP and Controller Noelle M. Repetti Sells Shares Under 10b5-1 Plan
SEC Form 4 Filing
Noelle M. Repetti, Senior VP and Controller of California Resources Corp, sold 8,770 shares of common stock at $55.75 per share on November 6, 2024, under a pre-arranged Rule 10b5-1 trading plan.
Summary
- On November 6, 2024, Noelle M. Repetti, the Senior VP and Controller of California Resources Corp, sold 8,770 shares of the company's common stock.
- The sale was executed at a price of $55.75 per share.
- Following the transaction, Repetti directly owns 8,531 shares of California Resources Corp.
- The sale was conducted under a Rule 10b5-1 trading plan adopted on June 13, 2024.
Sentiment
Score: 5
Explanation: The sentiment is neutral as it reports a routine stock sale under a pre-arranged trading plan. There is no indication of positive or negative implications for the company's performance.
Industry Context
This filing is a routine disclosure of insider trading activity. It is common for executives to use 10b5-1 plans to sell shares over time to avoid accusations of trading on inside information.
Stakeholder Impact
- The stock sale by a company executive could be perceived negatively by some shareholders, but the existence of a 10b5-1 plan mitigates this concern.
Key Dates
| Date | Description |
|---|---|
| June 13, 2024 | Date the reporting person adopted the Rule 10b5-1 trading plan |
| November 06, 2024 | Date of the transaction (stock sale) |
| November 07, 2024 | Date of the signature on the Form 4 filing |
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