Christopher D. Gould - Jun 14, 2021 Form 4 Insider Report for California Resources Corp (CRC)

Role: EVP & Chief Sustainability Off
Signature: /s/ Michael L. Preston, Attorney-in-Fact for Christopher D. Gould
Stock symbol: CRC
Transactions as of: Jun 14, 2021
Transactions value $: $0
Form type: 4
Date filed: 6/16/2021, 05:34 PM
Next filing: Jun 16, 2022

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CRC	Common Stock	Award	$0	+38.6K		$0.00	38.6K	Jun 14, 2021	Direct	F1

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Underlying Class	Amount	Exercise Price	Ownership	Footnotes
transaction	CRC	Performance Stock Units	Award	$0	+38.6K		$0.00	38.6K	Jun 14, 2021	Common Stock	38.6K		Direct	F2

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	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 two equal installments on each of June 14, 2022 and 2023 and, subject to certain exceptions, will be settled in shares of Common Stock within 45 days following the second anniversary of the grant date.
F2	Represents the target number of performance stock units ("PSUs"). Each PSU represents a contingent right to receive one share of Common Stock. The actual number of PSUs that vest and become earned is based on the volume-weighted average price of a share of Common Stock as determined over any 60 consecutive trading days during the two-year performance period, and, subject to certain exceptions, will be settled in shares of Common Stock within 45 days following the end of the two-year performance period.

Content

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 two equal installments on each of June 14, 2022 and 2023 and, subject to certain exceptions, will be settled in shares of Common Stock within 45 days following the second anniversary of the grant date.

Represents the target number of performance stock units ("PSUs"). Each PSU represents a contingent right to receive one share of Common Stock. The actual number of PSUs that vest and become earned is based on the volume-weighted average price of a share of Common Stock as determined over any 60 consecutive trading days during the two-year performance period, and, subject to certain exceptions, will be settled in shares of Common Stock within 45 days following the end of the two-year performance period.