Form 4: CRC Executive Gould Vests PSUs, Sells Shares for Tax

Christopher D. Gould, EVP & Chief Sustainability Officer of California Resources Corp, acquired shares from PSU vesting and disposed of shares for tax withholding.

Summary

• Christopher D. Gould, EVP & Chief Sustainability Officer of California Resources Corp (CRC), reported transactions involving the company's common stock.
• On February 23, 2026, Gould acquired 13,186 shares of common stock at a price of $0. This acquisition represents the vesting of Performance Stock Units (PSUs) that were granted on February 23, 2023, after their performance criteria were certified.
• Following this acquisition, Gould's beneficial ownership increased to 150,845 shares.
• On the same date, Gould disposed of 9,276 shares of common stock at a price of $58.15 per share.
• This disposition was made to satisfy tax withholding obligations related to the vesting of both Restricted Stock Units (RSUs) and PSUs.
• After these reported transactions, Gould's total beneficial ownership of CRC common stock is 141,569 shares.

Sentiment

Score: 6

Explanation: StockSavvy.ai views this as a routine executive compensation event. The vesting of PSUs is a positive indicator of performance criteria achievement, while the subsequent sale for tax purposes is a standard practice and not indicative of a change in sentiment.

Positives

• The vesting of 13,186 Performance Stock Units (PSUs) indicates that the company successfully met the performance criteria established on February 23, 2023.
• Christopher D. Gould maintains a significant beneficial ownership of 141,569 shares, aligning executive interests with those of shareholders.

Negatives

• The disposition of 9,276 shares, valued at $58.15 per share, resulted in a reduction of the executive's direct beneficial ownership.

Future Outlook

NA

Industry Context

StockSavvy.ai notes that executive stock transactions, particularly those related to vesting and tax withholding, are common occurrences in publicly traded companies and generally reflect pre-planned compensation events rather than discretionary trading based on new material information.

Stakeholder Impact

• Shareholders: The vesting of PSUs indicates management achieved performance targets, which is generally positive for shareholders. The subsequent sale for tax purposes is a routine event and does not significantly alter the executive's overall alignment with shareholder interests given the remaining beneficial ownership.

Key Dates

Recommendation

This Form 4 filing details routine executive compensation events, specifically the vesting of performance stock units and the subsequent sale of shares to cover tax obligations. Such transactions are pre-scheduled and do not typically signal a change in the company's fundamentals or the executive's outlook. Therefore, it provides no new information that would warrant a change in an existing investment position.

Keywords

California Resources Corp, CRC, Christopher D. Gould, EVP & Chief Sustainability Officer, SEC Form 4, Insider Trading, Stock Vesting, PSU, RSU, Tax Withholding, Executive Compensation