Michael L. Preston - Jan 25, 2023 Form 4 Insider Report for California Resources Corp (CRC)

Role: EVP, Chief Admin Officer & GC
Signature: /s/ Ulrik Damborg, Attorney-in-Fact for Michael L. Preston
Stock symbol: CRC
Transactions as of: Jan 25, 2023
Transactions value $: -$70,889
Form type: 4
Date filed: 1/27/2023, 04:03 PM
Previous filing: Mar 24, 2022
Next filing: Feb 27, 2023

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	CRC	Common Stock	Tax liability	-$70.9K	-1.51K	-1.83%	$47.04	80.7K	Jan 25, 2023	Direct	F1, F2

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

Explanation of Responses:

Id	Content
F1	Represents restricted stock units ("RSUs") surrendered to satisfy tax withholding for RSUs that vested on January 25, 2023. The surrender of RSUs to satisfy tax withholding was made pursuant to the terms of the award. These RSUs were previously awarded on January 25, 2021 and vest in one-third installments on each grant date anniversary, subject to the terms of the award. Each RSU represents a contingent right to receive one share of common stock of the Issuer.
F2	Includes 250 shares acquired under the California Resources Corporation Employee Stock Purchase Plan on January 3, 2023.

Content

Represents restricted stock units ("RSUs") surrendered to satisfy tax withholding for RSUs that vested on January 25, 2023. The surrender of RSUs to satisfy tax withholding was made pursuant to the terms of the award. These RSUs were previously awarded on January 25, 2021 and vest in one-third installments on each grant date anniversary, subject to the terms of the award. Each RSU represents a contingent right to receive one share of common stock of the Issuer.

Includes 250 shares acquired under the California Resources Corporation Employee Stock Purchase Plan on January 3, 2023.