[Form 4] Berry Corp (bry) Insider Trading Activity
Rhea-AI Filing Summary
Berry Corp's president reported merger-related equity changes tied to the company’s acquisition by California Resources Corporation (CRC). On December 18, 2025, a merger was completed in which a CRC subsidiary combined with Berry, leaving Berry as a wholly owned subsidiary of CRC.
Each share of Berry common stock held at the merger’s effective time was converted into the right to receive 0.0718 shares of CRC common stock, with cash paid instead of fractional shares. Certain restricted stock units (RSUs) that accelerated at closing were cancelled for cash equal to the underlying Berry shares multiplied by the product of $47.21, the volume-weighted average price of CRC stock specified in the merger agreement, and the 0.0718 exchange ratio.
Other RSUs that did not accelerate at closing were cancelled and replaced with CRC RSUs, based on the same 0.0718 exchange ratio, and continue under their existing vesting and other terms.
Positive
- None.
Negative
- None.
Insider Trade Summary
| Type | Security | Shares | Price | Value |
|---|---|---|---|---|
| Exercise | 2023 Restricted Stock Units | 20,179 | $0.00 | -- |
| Disposition | 2024 Restricted Stock Units | 50,420 | $0.00 | -- |
| Disposition | 2025 Restricted Stock Units | 101,964 | $0.00 | -- |
| Exercise | 2023 Restricted Stock Units | 20,179 | $0.00 | -- |
| Disposition | Common Stock | 371,912 | $0.00 | -- |
Footnotes (1)
- On December 18, 2025, the transactions contemplated by the Agreement and Plan of Merger, dated September 14, 2025 (the "Merger Agreement"), by and among Berry Corporation (bry) (the "Issuer"), California Resources Corporation ("CRC"), and Dornoch Merger Sub, LLC ("Merger Sub") were consummated. Pursuant to the Merger Agreement, Merger Sub merged with and into the Issuer with the Issuer surviving as a wholly owned subsidiary of CRC (the "Merger"). Pursuant to the Merger Agreement, each share of the Issuer's common stock, par value $0.001 per share ("Berry Common Stock"), beneficially owned by the Reporting Person at the effective time of the Merger (the "Effective Time") was converted into the right to receive 0.0718 (the "Exchange Ratio") shares of common stock, par value $0.01 per share, of CRC ("CRC Common Stock"), with cash paid in lieu of the issuance of fractional shares (the "Merger Consideration"). Pursuant to the Merger Agreement, each outstanding restricted stock unit not subject to performance-based vesting conditions ("RSU") that accelerated at the Effective Time in accordance with its terms ("Single Trigger RSU") was cancelled in exchange for an amount in cash equal to the number of shares of Berry Common Stock subject to such Single Trigger RSU multiplied by the product of (a) $47.21 (the VWAP per share of CRC Common Stock for the 15 consecutive trading days ending on and including the second full trading day prior to the Effective Time in accordance with the Merger Agreement) and (b) the Exchange Ratio . Pursuant to the Merger Agreement, each outstanding RSU that is not a Single Trigger RSU ("Double Trigger RSU") was canceled in exchange for a restricted stock unit of CRC denominated in a number of shares of CRC Common Stock equal to the product of (x) the number of shares of Berry Common Stock subject to such Double Trigger RSU multiplied by (y) the Exchange Ratio and remains subject to the same terms and conditions (including vesting terms) as were applicable prior to the Effective Time.
