California Resources (NYSE: CRC) grants 19,166 RSUs to top executive Preston

Rhea-AI Filing Summary

Preston Michael L. reported acquisition or exercise transactions in this Form 4 filing.

California Resources Corp executive Michael L. Preston, EVP and Chief Strategy Officer & General Counsel, received an equity award linked to company performance. He was granted 19,166 restricted stock units (RSUs), each representing one share of common stock. These RSUs vest in three equal annual installments on March 2 of 2027, 2028, and 2029, encouraging long-term alignment with shareholders. Following this grant, he directly holds 130,623 shares of common stock, including the awarded units.

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

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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^*

Preston Michael L.

(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)

	Director		10% Owner
X	Officer (give title below)		Other (specify below)
	EVP, Chf Strategy Officer & GC

3. Date of Earliest Transaction (Month/Day/Year)
03/02/2026

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	03/02/2026		A(1)		19,166	A	$0	130,623	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 a grant of restricted stock units ("RSUs"). Each RSU represents a contingent right to receive one share of Common Stock. These RSUs will vest in three equal annual installments on each of March 2, 2027, 2028 and 2029.

Remarks:

	/s/ Ulrik Damborg, Attorney-in-Fact for Michael L. Preston	03/03/2026
	** 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.
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FAQ

What insider transaction did CRC executive Michael L. Preston report?

Michael L. Preston reported receiving a grant of 19,166 restricted stock units. Each unit represents a contingent right to one share of California Resources Corp common stock, increasing his direct holdings to 130,623 shares after the award.

How many CRC shares did Michael L. Preston hold after this Form 4 transaction?

After the reported award, Michael L. Preston directly holds 130,623 California Resources Corp common shares. This total includes the 19,166 restricted stock units granted in the transaction, which convert into shares as they vest over the specified schedule.

What type of equity award did CRC grant to Michael L. Preston?

California Resources Corp granted Michael L. Preston 19,166 restricted stock units (RSUs). Each RSU is a contingent right to receive one share of common stock, typically used to align executive incentives with long-term shareholder value and retention goals.

When will Michael L. Preston’s newly granted CRC RSUs vest?

The 19,166 restricted stock units granted to Michael L. Preston vest in three equal annual installments. They are scheduled to vest on March 2 of 2027, 2028, and 2029, subject to the usual continued service and applicable plan conditions.

Did Michael L. Preston buy CRC shares in the open market?

No, Michael L. Preston did not buy shares in the open market. The Form 4 shows an acquisition coded as an award of 19,166 restricted stock units, granted at no cash price as part of his executive compensation package.

What does each CRC RSU granted to Michael L. Preston represent?

Each restricted stock unit granted to Michael L. Preston represents a contingent right to receive one share of California Resources Corp common stock. The units convert into actual shares only upon vesting on the specified future dates.