California Resources (CRC) EVP uses RSUs to cover tax bill

Rhea-AI Filing Summary

California Resources Corp executive Michael L. Preston reported a tax-related share disposition. On February 25, 2026, he surrendered 4,074 shares of common stock at $58.12 per share to satisfy tax withholding on restricted stock units that vested that day. After this transaction, he directly held 111,457 shares of common stock.

Insider Trade Summary

1 transaction reported

Mixed 1 txn

Insider Preston Michael L.

Role EVP, Chf Strategy Officer & GC

Type	Security	Shares	Price	Value
Tax Withholding	Common Stock	4,074	$58.12	$237K

Holdings After Transaction: Common Stock — 111,457 shares (Direct)

Footnotes (1)

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Form 4 Insider Transactions: What Each Field Means →

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^*

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)
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)		4,074	D	$58.12	111,457	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 Michael L. Preston	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 executive Michael L. Preston report?

Michael L. Preston reported disposing of 4,074 California Resources Corp common shares. The shares were surrendered to satisfy tax withholding obligations related to restricted stock units that vested on February 25, 2026, rather than sold in an open market transaction.

Was the CRC insider transaction an open market sale of shares?

No, the CRC insider transaction was not an open market sale. The 4,074 shares were surrendered to cover tax withholding for vested restricted stock units, a common administrative transaction tied to equity compensation rather than a discretionary sale decision.

How many California Resources Corp shares does Michael L. Preston hold after this transaction?

After the tax-withholding disposition, Michael L. Preston directly holds 111,457 California Resources Corp common shares. This figure reflects his ownership following the surrender of 4,074 shares to satisfy tax obligations on vested restricted stock units.

What price was used for the CRC shares surrendered for tax withholding?

The shares surrendered by Michael L. Preston were valued at $58.12 per California Resources Corp common share. This price was applied to 4,074 shares that were used to satisfy tax withholding obligations on restricted stock units that vested on February 25, 2026.

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

Transaction code F in the CRC Form 4 indicates shares were used to pay an exercise price or tax liability. In this case, 4,074 common shares were surrendered specifically to satisfy tax withholding on restricted stock units that vested on February 25, 2026.