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CRC Executive Omar Hayat Reduces Stake Through Tax-Related Share Sales

Filing Impact
(Moderate)
Filing Sentiment
(Neutral)
Form Type
4

Rhea-AI Filing Summary

Omar Hayat, EVP & Chief Operating Officer of California Resources Corp (NYSE: CRC), reported two tax-related share dispositions:

  • On May 8, 2025, 102 shares were cancelled at $40.71 per share for tax payments on vested restricted stock units (RSUs)
  • On June 19, 2025, 4,270 shares were cancelled at $46.05 per share for tax payments on vested RSUs

Following these transactions, Hayat directly owns 43,922 shares of CRC common stock, down from 48,192 shares. These dispositions were automatic share cancellations to cover tax obligations from RSU vestings, rather than open market sales. No derivative securities were involved in these transactions.

Positive

  • None.

Negative

  • None.
Insider Hayat Omar
Role EVP & Chief Operating Officer
Type Security Shares Price Value
Tax Withholding Common Stock 4,270 $46.05 $197K
Tax Withholding Common Stock 102 $40.71 $4K
Holdings After Transaction: Common Stock — 43,922 shares (Direct)
Footnotes (1)
  1. Represents shares cancelled for payment of taxes on vested restricted stock units which settled on May 8, 2025. Represents shares cancelled for payment of taxes on vested restricted stock units which settled on June 19, 2025.
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*
Hayat Omar
(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 & Chief Operating Officer
3. Date of Earliest Transaction (Month/Day/Year)
05/08/2025
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 05/08/2025 F(1) 102 D $40.71 48,192 D
Common Stock 06/19/2025 F(2) 4,270 D $46.05 43,922 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 shares cancelled for payment of taxes on vested restricted stock units which settled on May 8, 2025.
2. Represents shares cancelled for payment of taxes on vested restricted stock units which settled on June 19, 2025.
Remarks:
/s/ Ulrik Damborg, Attorney-in-Fact for Omar Hayat 06/23/2025
** 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

FAQ

How many shares of CRC stock did EVP & COO Omar Hayat sell in June 2025?

EVP & COO Omar Hayat had 4,270 shares cancelled on June 19, 2025 at a price of $46.05 per share for tax payment purposes related to vested restricted stock units.

What is Omar Hayat's current position at CRC?

Omar Hayat serves as Executive Vice President (EVP) & Chief Operating Officer (COO) of California Resources Corporation.

How many CRC shares does Omar Hayat own after the June 2025 transactions?

Following the June 19, 2025 transaction, Omar Hayat directly owns 43,922 shares of CRC common stock.

What was the purpose of CRC insider Omar Hayat's stock dispositions in May and June 2025?

Both transactions were share cancellations for payment of taxes on vested restricted stock units - 102 shares on May 8, 2025 at $40.71 per share and 4,270 shares on June 19, 2025 at $46.05 per share.

What was the total value of CRC shares sold by Omar Hayat for tax purposes in June 2025?

The June 19, 2025 transaction involved 4,270 shares at $46.05 per share, representing approximately $196,633.50 in total value used for tax payment purposes.