California Resources (NYSE: CRC) CEO receives 43,833 RSUs

Rhea-AI Filing Summary

Leon Francisco reported acquisition or exercise transactions in this Form 4 filing.

California Resources Corp President and CEO Leon Francisco received an equity award of 43,833 shares in the form of restricted stock units. Each unit represents one share of common stock and will vest in three equal installments on March 2 of 2027, 2028 and 2029. Following this grant, he holds 336,948 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

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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^*

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)
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)		43,833	A	$0	336,948	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 Francisco Leon	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).
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FAQ

What did California Resources (CRC) CEO Leon Francisco report in this Form 4?

Leon Francisco reported receiving 43,833 restricted stock units from California Resources Corp. Each unit represents one share of common stock, vesting in three equal annual installments starting March 2, 2027, which increases his reported direct holdings to 336,948 shares.

How many California Resources (CRC) shares did the CEO’s new award cover?

The award covers 43,833 restricted stock units tied to California Resources common stock. Each restricted stock unit equals one share upon vesting, adding to Leon Francisco’s existing ownership and bringing his total reported direct holdings to 336,948 shares after the grant.

When do Leon Francisco’s new California Resources (CRC) RSUs vest?

The restricted stock units vest in three equal annual installments. Vesting occurs on March 2 of 2027, 2028 and 2029, meaning one-third of the 43,833 units converts into common stock on each of those three scheduled dates.

What is Leon Francisco’s total California Resources (CRC) share ownership after this grant?

After the reported restricted stock unit grant, Leon Francisco holds 336,948 shares of California Resources common stock directly. This figure reflects his ownership immediately following the 43,833-unit equity award described in the insider transaction reporting data.

Is Leon Francisco’s California Resources (CRC) RSU grant an open-market purchase?

No, the transaction is classified as a grant or award acquisition rather than an open-market purchase. The 43,833 restricted stock units were awarded at no stated purchase price and will convert into common stock only as they vest over three years.