Form 4: CRC Executive Sells Shares for Tax Withholding

California Resources Corp's EVP and Chief Strategy Officer, Michael L. Preston, disposed of 3,481 shares of common stock to cover tax obligations related to RSU vesting.

Summary

• Michael L. Preston, Executive Vice President, Chief Strategy Officer, and General Counsel of California Resources Corp (CRC), reported a transaction on February 22, 2026.
• Preston disposed of 3,481 shares of CRC common stock at a price of $59.22 per share.
• This transaction was classified as a 'Disposition to Issuer to satisfy tax withholding obligations' (Transaction Code F).
• The shares were surrendered to satisfy tax withholding requirements for Restricted Stock Units (RSUs) that vested on the same date.
• Following this transaction, Preston beneficially owns 113,246 shares of common stock directly.

Sentiment

Score: 5

Explanation: StockSavvy.ai views this as a neutral event, as it is a standard, non-discretionary transaction for tax purposes related to executive compensation.

Future Outlook

The filing does not contain any forward-looking statements or guidance.

Industry Context

StockSavvy.ai notes that insider transactions, particularly those related to tax withholdings upon RSU vesting, are common occurrences in publicly traded companies and typically do not reflect a change in management's outlook on the company's performance or stock value. This is a routine compliance filing.

Stakeholder Impact

• Shareholders: Minimal direct impact as this is a routine, non-discretionary transaction for tax purposes, not a discretionary sale indicating a change in sentiment.

Key Dates

Keywords

California Resources Corp, CRC, Michael L. Preston, Insider Transaction, Form 4, Restricted Stock Units, RSU Vesting, Tax Withholding, Executive Compensation