CRC CEO surrenders shares for tax withholding

California Resources Corp President and CEO Leon Francisco reported a Form 4 showing a tax-related share disposition.

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Form Type

Rhea-AI Filing Summary

California Resources Corp President and CEO Leon Francisco reported a Form 4 showing a tax-related share disposition. On February 22, 2026, 6,993 shares tied to restricted stock units were surrendered to satisfy tax withholding when RSUs vested. This was not an open-market sale. After this transaction, Francisco directly holds 297,841 shares of common stock.

Insider Trade Summary

Exercise Price or Tax Liability: 6,993 shares

Exercise Price or Tax Liability 1 txn

Insider Leon Francisco

Role President and CEO

Type	Security	Shares	Price	Value
Exercise Price or Tax Liability	Common Stock	6,993	$59.22	$414K

Holdings After Transaction: Common Stock — 297,841 shares (Direct)

Footnotes (1)

F1. Represents restricted stock units ("RSUs") surrendered to satisfy tax withholding for RSUs that vested on February 22, 2026.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What insider transaction did CRC CEO Leon Francisco report on this Form 4?

Leon Francisco reported a tax-withholding disposition of shares. He surrendered 6,993 shares connected to vested restricted stock units to cover tax obligations, rather than selling shares in the open market, as disclosed in the Form 4 filing.

How many California Resources (CRC) shares did the CEO surrender for taxes?

The CEO surrendered 6,993 shares to satisfy tax withholding. These shares were tied to restricted stock units that vested on February 22, 2026, and were delivered to cover the related tax liability instead of generating cash through a market sale.

Does this CRC Form 4 show an open-market sale by the CEO?

No, the filing shows a tax-withholding disposition, not an open-market sale. Shares associated with vested restricted stock units were surrendered to satisfy tax obligations, which is a common administrative transaction rather than a discretionary sale into the market.

How many California Resources Corp shares does Leon Francisco own after this transaction?

After the tax-withholding disposition, Leon Francisco directly holds 297,841 shares of California Resources Corp common stock. This figure reflects his remaining direct ownership position following the surrender of 6,993 shares to satisfy taxes on vested restricted stock units.

What does transaction code F mean in this CRC Form 4 filing?

Transaction code F indicates payment of an exercise price or tax liability by delivering securities. In this case, it reflects the CEO surrendering 6,993 shares related to restricted stock units to cover tax withholding when those RSUs vested on February 22, 2026.

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Accepted by SEC EDGAR 02/24/2026 - 05:46 PM EST

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

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)
02/22/2026

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Stock	02/22/2026		F⁽¹⁾		6,993	D	$59.22	297,841	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

Explanation of Responses:

1. Represents restricted stock units ("RSUs") surrendered to satisfy tax withholding for RSUs that vested on February 22, 2026.

Remarks:

	/s/ Ulrik Damborg, Attorney-in-Fact for Francisco Leon	02/24/2026
	** 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.

Source: View Original Filing on SEC EDGAR