California Resources Corp — Director's Dealing 2017

Feb 16, 2017

SEC Form 4 — Statement of Changes in Beneficial Ownership

Issuer: California Resources Corp (CRC)
CIK: 0001609253
Period of Report: 2017-02-13

Reporting Person: Barnes Robert A. (EVP - Operations)

Non-Derivative Transactions

Date	Security	Code	Shares	Price	A/D	Holdings After	Ownership
2017-02-13	Common Stock	A	33228	—	Acquired	74038	Direct
2016-08-04	Common Stock	M	317	—	Acquired	1992.424	Indirect
2016-08-04	Common Stock	D	317	$9.22	Disposed	1675.424	Indirect

Derivative Transactions

Date	Security	Exercise Price	Code	Shares	A/D	Expiration	Underlying	Ownership
2017-02-13	Phantom Stock Unit	$	A	1649	Acquired	2020-02-12	Common Stock (1649.0)	Indirect
2016-08-04	Phantom Stock Unit	$	M	317	Disposed	2016-08-04	Common Stock (317.0)	Indirect

Footnotes

F1: Grant of Restricted Stock Units (RSUs) pursuant to California Resources Corporation's (CRC) Long-Term Incentive Plan.

F2: The RSUs will vest in three (3) equal annual installments on February 12, 2018, 2019, and 2020.

F3: Each Phantom Stock Units (PSUs) was the economic equivalent of one share of CRC common stock. The reporting person's wife settled one-third of the PSU in cash at the scheduled vesting date.

F4: The newly granted PSUs will vest in three (3) equal installments on February 12, 2018, 2019 and 2020.