Form 4: CRC Executive Granted 47,649 Restricted Stock Units

California Resources Corp's EVP, Chief Strategy Officer & General Counsel, Michael L. Preston, was granted 47,649 restricted stock units.

Summary

• Michael L. Preston, Executive Vice President, Chief Strategy Officer & General Counsel of California Resources Corp (CRC), acquired 47,649 shares of Common Stock in the form of restricted stock units (RSUs) on November 4, 2025.
• Each RSU represents a contingent right to receive one share of Common Stock.
• The RSUs will vest over several years: 10% on November 4, 2026; 10% on November 4, 2027; 10% on November 4, 2028; 30% on November 4, 2029; and 40% on November 4, 2030.
• The transaction price for these acquired securities was $0, which is typical for RSU grants.
• Following this transaction, Michael L. Preston beneficially owns a total of 116,727 shares of Common Stock.

Sentiment

Score: 7

Explanation: The grant of restricted stock units to a key executive is generally a positive event, as it aligns management's long-term interests with those of shareholders and serves as a retention mechanism. It indicates ongoing commitment to executive compensation strategies that tie pay to performance.

Positives

• The grant of restricted stock units aligns the executive's long-term interests with those of shareholders, as the value of the compensation is tied to the company's stock performance.
• This type of equity compensation serves as a retention tool, incentivizing the executive to remain with the company through the multi-year vesting schedule.

Future Outlook

NA

Industry Context

This is a routine executive compensation event and does not directly reflect broader industry trends or competitive dynamics. It is a standard practice for publicly traded companies to use equity grants to compensate and incentivize senior management.

Stakeholder Impact

• Shareholders: The RSU grant aligns the executive's financial interests with shareholder value, potentially leading to more focused efforts on long-term company performance.
• Employees: This reflects the company's ongoing executive compensation strategy, which can influence overall compensation philosophy and morale.

Next Steps

• The restricted stock units will vest according to the specified schedule, with portions vesting annually from November 4, 2026, through November 4, 2030.

Key Dates

Keywords

California Resources Corp, CRC, Restricted Stock Units, RSU Grant, Insider Transaction, Executive Compensation, Michael L. Preston, SEC Form 4