California Resources (CRC) CEO surrenders shares to cover RSU tax withholding

Rhea-AI Filing Summary

California Resources Corp President and CEO Leon Francisco reported a tax-related share transaction. He surrendered 9,317 shares of common stock at $58.12 per share to cover withholding taxes on restricted stock units that vested on February 25, 2026. Following this tax-withholding disposition, he holds 293,115 shares of common stock directly.

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

Leon Francisco

(Last) (First) (Middle)

1 WORLD TRADE CENTER, SUITE 1500

(Street)

LONG BEACH CA 90831

(City) (State) (Zip)

2. Issuer Name and Ticker or Trading Symbol
California Resources Corp [ CRC ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	President and CEO

3. Date of Earliest Transaction (Month/Day/Year)
02/25/2026

4. If Amendment, Date of Original Filed (Month/Day/Year)

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Stock	02/25/2026		F(1)		9,317	D	$58.12	293,115	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. Represents restricted stock units ("RSUs") surrendered to satisfy tax withholding for RSUs that vested on February 25, 2026.

Remarks:

	/s/ Ulrik Damborg, Attorney-in-Fact for Francisco Leon	02/27/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

FAQ

What insider transaction did CRC President and CEO Leon Francisco report?

Leon Francisco reported a tax-withholding disposition of 9,317 California Resources Corp common shares. These shares were surrendered to satisfy taxes on restricted stock units that vested on February 25, 2026, rather than being sold in an open-market transaction.

Was the CRC insider transaction by Leon Francisco an open-market sale?

No, the transaction was not an open-market sale. The 9,317 shares were surrendered to satisfy tax withholding obligations on vested restricted stock units, a common administrative transaction rather than a discretionary sale of shares into the market.

How many CRC shares does Leon Francisco hold after this Form 4 transaction?

After the reported tax-withholding disposition, Leon Francisco holds 293,115 shares of California Resources Corp common stock directly. This figure reflects his ownership position following the surrender of shares to cover withholding taxes on vested restricted stock units.

What was the price used for Leon Francisco’s CRC tax-withholding disposition?

The tax-withholding disposition used a price of $58.12 per California Resources Corp share. This price is typically based on the market value at the time the restricted stock units vested and is applied solely to calculate the value of shares surrendered for tax obligations.

What triggered the tax-withholding share surrender reported for CRC’s CEO?

The share surrender was triggered by restricted stock units vesting on February 25, 2026. To satisfy associated tax withholding obligations, Leon Francisco surrendered 9,317 CRC shares, as disclosed in the Form 4 footnote describing the nature and purpose of the transaction.